Stocks to buy: Ankush Bajaj recommends three stocks for today—10 January
Source: Live Mint
Nifty and Bank Nifty Analysis
The benchmark stock index Nifty opened flat at 23,689.50 and closed at 23,526.50 on Thursday. Nifty50 declined by 0.69%, with the Nifty Realty Index (-2.73%), Nifty Energy (-2.03%), and Nifty Alpha 50 Index (-1.93%) dragging the market down. Meanwhile, the BSE Sensex dropped 0.68%, closing at 77,620.21.
Nifty FMCG and consumption indices outperformed the market and closed in the green.
The top performers in Nifty 50 stocks were Bajaj Auto (+2.24%), Nstle India (+1.63%), and Hindustan Unilever Ltd (+1.43%).
The top losers were Shriram Finance (-3.07%), ONGC (-3%), BPCL (-2.37%), and Coal India (-2.14%).
Also Read: Top sectors to pick and avoid in 2025
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Indian stock market’s outlook
As marked in the chart, which can act as a support (demand zone) for the short term. Nifty is near its support zone of 23,500, and Nifty has still not closed below the level of 23500.
The Nifty is trading below its 200 EMA at 23,707.90, but it is still below its 200 DMA at 23,923.50.
Bank Nifty is trading below its 200-day simple moving average at 50,723.50.
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Three stocks to buy, recommended by Ankush Bajaj:
NDR Auto Components: Buy at ₹859; Target ₹940-960; Stop Loss ₹778
A fundamentally strong company has given a head & shoulders (H&S) breakout on the four-hour timeframe. Additionally, the stock is trading above multiple moving averages, making it a good buy with low risk.
Britannia: Buy at ₹4,926; Target ₹5,150-5,250; Stop Loss ₹4,726.
The FMCG sector outperformed in yesterday’s market, and the stock managed to close above its recent consolidation at lower levels. Additionally, it is trading above multiple moving averages, indicating the potential for a significant upward move in the coming days.
M&M: Buy at ₹3,126; Target ₹3,275; Stop Loss ₹3,042.
Stock is trading near lifetime high levels and is expected to make a fresh lifetime high in the next few days.
Also Read: We asked top AI models their best market picks for 2025. And were surprised….
Ankush Bajaj is a Sebi-registered research analyst. His registration number is INH000010441.
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 guarantee 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.
