On 30 April, the Indian equity markets opened on a slightly gap-down note and experienced a volatile range-bound session throughout the day. After moving between 24,300 and 23,400 levels, selling pressure intensified towards the close, pushing the indices below key support levels.
Top three realty stocks to buy, recommended by Ankush Bajaj
LODHA (current price: ₹1329)
- Why it’s recommended: The stock has given a breakout from a falling wedge pattern and has retested the ₹1,320 level, indicating strength. RSI on the daily chart is above 60, confirming bullish momentum.
- Key metrics: RSI: 62 (bullish) | Breakout level: ₹1,320 | Pattern: Falling wedge breakout
- Technical analysis: Price action shows a successful retest of the breakout zone with strength building up. RSI supports the potential for further upside.
- Risk factors: Real estate stocks are sensitive to interest rate changes, government policies, and macroeconomic sentiment.
- Buy at: ₹1,329 | Target price: ₹1,380– ₹1,400 in 1–2 weeks | Stop loss: ₹1,285
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SOBHA (current price: ₹1322)
- Why it’s recommended: The stock has given a rectangle breakout on the lower timeframe, indicating bullish continuation. Additionally, a positive MACD crossover on the daily chart supports the upward momentum.
- Key metrics: Breakout level: ₹1,320 | Pattern: Rectangle breakout | MACD: Positive crossover (daily chart)
- Technical analysis: Price action confirms breakout from a consolidation zone; daily MACD crossover adds strength to the bullish setup.
- Risk factors: The real estate sector is sensitive to interest rates, regulatory updates, and market sentiment.
- Buy at: ₹1,322 | Target price: ₹1,345– ₹1,360 in 1–2 weeks | Stop loss: ₹1,305
RAYMOND (current price: ₹1527)
- Why it’s recommended: On the hourly chart, the stock has given a triangle breakout. Additionally, a falling wedge breakout is visible on the lower time frame, indicating a potential positive trend in the coming days.
- Key metrics: Breakout zones: ₹1,520– ₹1,530 | Patterns: Triangle breakout (hourly) | Falling wedge breakout (lower time frame)
- Technical analysis: Multiple bullish breakout patterns across timeframes suggest strong upward momentum. Price action supports a continuation move.
- Risk factors: The stock can be impacted by discretionary sector demand, input cost fluctuations, and broader market sentiment.
- Buy at: ₹1,527 | Target price: ₹1,580– ₹1,599 in 1–2 weeks | Stop loss: ₹1,470
Three stocks to buy, as recommended by Raja Venkatraman
ICICI Lombard General Insurance (current market price ₹1876.50)
- Why it’s recommended: ICICI Lombard General Insurance (ICICIGI) is a leading player in the insurance sector, offering a diverse range of products and services. With its strong market presence, innovative offerings, and focus on digital transformation, ICICIGI is well-positioned to capitalize on the growing demand for insurance in India, making it an attractive long opportunity.
- Key metrics: P/E: 36.85 | 52-week high: ₹1,892 | Volume: 223.14M
- Technical analysis: Support at ₹1,780 | Resistance at ₹1,900
- Risk factors: Regulatory changes, competition in the insurance market, and macroeconomic factors could impact growth. Additionally, fluctuations in claim ratios and investment income may pose challenges.
- Buy at: CMP and dips to ₹1,840 | Target price: ₹1,980-2,025 in 1 month | Stop loss: ₹1,820
JB Chemicals & Pharmaceuticals (current market price ₹1612.40)
- Why it’s recommended: JB Chemicals & Pharmaceuticals (JBCHEPHARMA) is a prominent player in the pharmaceutical sector, known for its strong product portfolio and consistent financial performance. With a focus on innovation and expanding its global footprint, the company is well-positioned to benefit from the growing demand for healthcare solutions.
- Key metrics: P/E: 40.02 | 52-week high: ₹2,030 | Volume: 277.40 K
- Technical analysis: Support at ₹1,650 | Resistance at ₹1,750
- Risk factors: Dependency on regulatory approvals, pricing pressures in the pharmaceutical industry, and fluctuations in raw material costs could impact margins. Additionally, global economic conditions may influence demand.
- Buy at: CMP and dips to ₹1,580 | Target price: ₹1,725-1,760 in 1 month | Stop loss: ₹1,560
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Bharti Airtel (BHARTIARTL current market price ₹1864.50)
- Why it’s recommended: Bharti Airtel is one of India’s leading telecommunications companies, offering a wide range of services including mobile, broadband, and enterprise solutions. With its strong market presence, innovative offerings, and focus on 5G expansion, Bharti Airtel is well-positioned to benefit from the growing demand for digital connectivity.
- Key metrics: P/E: 60.12 | 52-week high: ₹1904 | Volume: 9.14M
- Technical analysis: Support at ₹1,700 | Resistance at ₹2,250
- Risk factors: Dependency on regulatory policies, competition in the telecom sector, and fluctuations in ARPU (Average Revenue Per User) could impact growth. Rising infrastructure costs and geopolitical tensions may also pose challenges.
- Buy at: CMP and dips to ₹1,830 | Target price: ₹1,990-2,050 in 1 month | Stop loss: ₹1,815
Also Read: FPIs bet on limited Nifty movement amid simmering India-Pakistan tensions
Two stock recommendations by MarketSmith India:
Divi’s Laboratories Ltd (Current price: ₹ 6,087)
- Why it’s recommended: Strong and diversified business portfolio, focused growth strategies
- Key metrics: P/E: 78.45 | 52-week high: ₹6,308.50 | Volume: ₹298.52 crore
- Technical analysis: Support near its 100-DMA
- Risk factors: Exposure to cyclical industries, intense market competition
- Buy at: ₹ 6,087 | Target price: ₹6,850 in three months | Stop loss: ₹5,740
Bharti Airtel (Current price: ₹ 1,864)
- Why it’s recommended: 5G expansion and strategic partnerships, robust subscriber growth and market share gains
- Key metrics: P/E: 60.26 | 52-week high: ₹ 1,904 | Volume: ₹ 1,695.11 crore
- Technical analysis: Bullish flag pattern breakout
- Risk factors: Economic volatility and competitive pressures
- Buy at: ₹ 1,864 | Target price: ₹ 2,060 in three months | Stop loss: ₹ 1,780
Ankush Bajaj is a Sebi-registered research analyst. His registration number is INH000010441.
Raja Venkatraman is co-founder, NeoTrader. His Sebi-registered research analyst registration no. is INH000016223.
MarketSmith India: Trade name: William O’Neil India Pvt. Ltd. Its Sebi-registered research analyst registration number is INH000015543.
Investments in securities are subject to market risks. Read all the related documents carefully before investing. Registration granted by Sebi and certification from NISM in no way guarantees performance of the intermediary or provide any assurance of returns to investors.
Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before making any investment decisions.”
