The Indian stock market ended the week on a positive note, with the Nifty 50 index rebounding to close at 25,966, reclaiming the crucial 25,900 zone. This rebound was driven by broad-based buying across sectors, supported by a sharp recovery in the Indian rupee and the return of foreign portfolio investors. As the market continues to show resilience, here are three stock buy recommendations to consider.
Market Outlook
Strong domestic liquidity continues to act as a buffer against deeper downside risks, lending resilience to the market structure. The re-emergence of foreign fund inflows is increasingly being viewed as a potential catalyst for the market's next leg higher, improving overall risk appetite.
Stock Recommendations
Based on technical analysis, the following three stocks are recommended for purchase:
- Jio Financial Services: Buy at ₹296.95, Target ₹325, Stop Loss ₹288. The stock is showing early signs of a bullish reversal, with a strong bullish candle and a Morning Star candlestick pattern.
- BEL: Buy at ₹392.85, Target ₹430, Stop Loss ₹375. The stock has started to reverse after a corrective decline, forming a strong bullish candle and is on the verge of breaking out of its consolidation zone.
- Asian Paints: Buy at ₹2799, Target ₹3000, Stop Loss ₹2700. The stock has witnessed a strong impulsive rally in recent weeks, breaking out from a prolonged consolidation zone, and is now in a controlled corrective phase.
Disclaimer
Remember, this is a perspective, not a prediction. The views and recommendations above are those of individual analysts and should not be considered as investment advice. We advise investors to check with certified experts before making any investment decisions.