Stocks to buy: HDFC Bank, Infosys, Paytm shares among 12 technical stock picks for 2025 by Axis Securities | Stock Market News

The Indian stock market remained resilient in 2024 and both the benchmark indices Sensex and Nifty 50 delivered annual returns of nearly 9% each. Sectoral indices witnessed notable gains, further underscoring the market’s robust performance. The broader markets outperformed the benchmarks, with the Nifty Smallcap 100 and the Nifty Midcap 100 indices rallying around 24% each.

In 2024, the Sensex scaled a record peak of 85,978, and the Nifty 50 reached a record high of 26,277, but profit-taking at elevated levels triggered a sharp correction of 11% till November swing low.

However, technical charts show the Nifty 50 index remains in a rising channel in the long term, indicating a strong uptrend.

Nifty Outlook for 2025

According to Axis Securities, Nifty 50 index is approaching a key support zone at 23,263 – 23,000, aligning with the November 2024 swing low and the lower band of the rising channel formed in June 2022.

“This support zone could sustain medium-term upside momentum, while a breakdown may deepen the correction. The 23,000 level serves as a pivotal support for the index. Holding above this level could drive a rally toward the all-time high of 26,277, potentially extending gains to 27,500 in the coming year,” Axis Securities said in a note.

However, a break below 23,000 could trigger a decline to 21,800, marking the 100% Fibonacci extension of the correction from the all-time high (26,277) to the swing low (23,263), anchored by the recent peak at 24,858, it added.

Stocks to buy in 2025

Axis Securities has recommended twelve stocks to buy in 2025, which it believes are technically and fundamentally well placed to see a decent upside. The brokerage firm suggests buying and accumulating these stocks in the given range for a potential upside of 18% – 46%.

The technical stock picks for 2025 by Axis Securities are Aditya Birla Sun Life AMC, Aster DM Healthcare, Capacit’e Infraprojects, Gujarat Fluorochemicals, HDFC Bank, Hindustan Petroleum Corporation Ltd (HPCL), Infosys, Man Infraconstruction, Muthoot Finance, Natco Pharma, One 97 Communications (Paytm) and Polyplex Corporation.

Aditya Birla Sun Life AMC | Buy Range: ₹750 – 715 | Target 1: ₹950 | Target 2: ₹1,045

Aster DM Healthcare | Buy Range: ₹485 – 455 | Target 1: ₹613 | Target 2: 685

Capacit’e Infraprojects | Buy Range: ₹413 – 385 | Target 1: ₹513 | Target 2: 555

Gujarat Fluorochemicals | Buy Range: ₹4,200 – 4,040 | Target 1: ₹4,815 | Target 2: ₹5,213

HDFC Bank | Buy Range: ₹1,720 – 1,670 | Target 1: ₹1,950 | Target 2: ₹2,200

Hindustan Petroleum Corporation | Buy Range: ₹390 – 370 | Target 1: ₹485 | Target 2: ₹544

Infosys | Buy Range: ₹1,840 – 1,755 | Target 1: ₹2,165 | Target 2: ₹2,335

Man Infraconstruction | Buy Range: ₹248-235 | Target 1: ₹295 | Target 2: ₹328

Muthoot Finance | Buy Range: ₹1,980 – 1,885 | Target 1: ₹2,285 | Target 2: ₹2,455

Natco Pharma | Buy Range: ₹1,285 – 1,235 | Target 1: ₹1,616 | Target 2: ₹1,785

One 97 Communications | Buy Range: ₹940 – 855 | Target 1: ₹1,150 | Target 2: ₹1,265

Polyplex Corporation | Buy Range: ₹1,225 – 1,150 | Target 1: ₹1,595 | Target 2: ₹1,735

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