Shares to buy: Prashanth Tapse of Mehta Equities suggests these three stocks to buy in the short term | Stock Market News

Stock market today: The Indian stock markets opened on a cautious note on Friday, experiencing selling pressure as both benchmark indices began the day in negative territory. Throughout the day, the indices fluctuated between the green and red zones, ultimately trading in a largely flat manner in the second half.

By mid-session, the Nifty 50 index was flat at 23,183.90, down by 21.45 points or 0.09%. Similarly, the Sensex was trading lower by 65.03 points, settling at 76,455.35, reflecting a decline of 0.08%.

Market analysts noted that Indian equities have been struggling in 2025 thus far. They mentioned that the upcoming Union Budget and the possibility of a rate cut by the Reserve Bank of India could significantly influence market sentiment in the near future. Investors are keenly awaiting these developments to gauge the market’s direction.

Asian shares rose on Friday, buoyed by a record increase in US stocks and the Bank of Japan’s decision to raise its key lending rate. While US futures dipped slightly and oil prices dropped following President Trump’s call for oil-producing nations to lower crude prices—aiming to alleviate inflation concerns—markets appeared largely unfazed by Trump’s latest threats to impose higher tariffs on Chinese and other imports. The overall sentiment in the markets reflects a focus on monetary policy shifts and their implications for the global economy.

Market Views – Prashanth Tapse, Research Analyst, Senior Vice President of Research at Mehta Equities

Nifty 50

There has been a consistent sell-off at higher levels in the Nifty 50 Index, and currently, it is facing strong resistance with resistance at 23,400. The Nifty 50 Index is currently positioned at 23,100, but if this key position breaks, it could further drop to 23,050. The rise in volatility indicated by the VIX continues to prevent any sustained positive recovery, which suggests that the fear or bearish sentiment is stronger, which heightens the need for monitoring the support zones closely. Advice for traders is to stay cautious and focus more on shorting near resistance levels.

Bank Nifty

Even amidst this, the Bank Nifty has stronger support around 48,750, which is the first level of support followed by deeper levels at 48,400 and 48,300. The market still continues to exhibit weakness. Some resistance is visible near 49,100 and stronger resistance observable at 49,400 where selling pressure is likely to rise more on any pullbacks. The overarching sentiment of the remaining bears make it seem like the index will continue to trend lower unless the resistance levels are decisively breached. It is better for traders to proceed with caution since the broader market strength appears to be lacking.

Shares to buy for short term

Prashanth Tapse recommends buying these three stocks in the short term – Emcure Pharmaceuticals Ltd, Tata Communications Ltd, and Indo Farm Equipment Ltd.

Emcure Pharma

Buy | CMP : ₹1,313 | SL : ₹1,250 | TARGET : ₹1,400 and ₹1,500

Emcure is currently experiencing a consolidation phase around the important support level of ₹1,250 and the resistance at ₹1,350. If a breakout occurs above ₹1,350, an increase towards ₹1,400- ₹1,500 would be possible but if ₹1,250 is broken the stock may go down further to ₹1,200. It is important to keep an eye on the strength of the stock at these levels as upswings may occur with increase of volume near these levels. Emcure’s approach should be in accordance with these levels while keeping in mind risk management.

Tata Communications

Buy | CMP : ₹1,659 | SL : ₹1,588 | TGT : ₹1,750

Tata Communications is witnessing support near ₹1,588 and resistance at ₹1,750. The stock has shown neutral momentum and with the current momentum, decline towards ₹1,500 would be possible if below ₹1,588 is breached while decline above ₹1,750 is indicative of strength. The RSI shows stabe conditions which may lead to watching for volume activity which will confirm the breakout or breakdown of the stock.

Indo Farm Equipment

Buy | CMP : ₹202.10 | SL : ₹190.00 | TARGET : ₹215 and ₹225

Indo Farm Equipment appears the consolidation around the levels of ₹200 with a higher resistance level of ₹210. Sustained breakouts above 210 could indicate a strong bullish trend in the stock while breakouts below support level of ₹190 will indicate weak bullish sentiments. Volume analysis will be crucial for confirming directional traces on the stock. Traders need to set these levels and be careful with their approach.

Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decision.