Shares to buy: Riyank Arora of Mehta Equities suggests these three stocks to buy in short term

Stock market today: Equity benchmark indices Sensex and Nifty 50 fell sharply during Tuesday’s trading session, influenced by a weak trend in global markets, ongoing foreign fund outflows, and worries about US tariffs. Experts point out that the combination of a struggling global market, fears surrounding a potential trade war, and continuous selling by foreign institutional investors (FIIs) has adversely affected the domestic market.

By 13:28 IST, the Nifty 50 fell 67 points to 22,052.30, while the Sensex experienced a 196.04 points drop to 72,887.44.

Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, explained that market reactions are the key factor that will influence Trump. He noted that even someone as influential as Trump cannot dictate market movements. The imposition of tariffs is likely to increase inflation in the US, which may lead the Fed to adopt a hawkish stance. Given that the US stock market is currently priced to perfection, it could face a significant correction or even a crash. This potential outcome, which Trump would dislike, could bring about a level of reasonableness and balance to his policies, although it’s uncertain when this might occur.

In the near term, Vijayakumar cautioned that there are no indications of a rebound in the Indian market, even if valuations appear fair. Investors should exercise caution and await further developments in the situation.

Market Views – Riyank Arora, Technical Analyst, Mehta Equities Ltd

Nifty 50

Nifty 50 has touched its psychological support mark of 22,000 and showing some signs of recovery from lower levels coming in. With the major support zone being 21,700 – 21,800 odd levels, we expect markets to see a rebound from lower levels and head higher towards 22,200 – 22,300 odd levels as some momentum picks up strength from the oversold regions.

Bank Nifty

Bank Nifty has its immediate support at 48,000 below which the major support is placed around 47,700 levels. With the overall trend being positive and PSU , Private Banking and Financial stocks having a good technical structure, we expect bank nifty to go towards 48,500 and 49,000 eventually. Positional traders should maintain a deeper SL strictly at 47,500 mark on all their active longs.

Shares to buy for short term

Riyank Arora recommends buying these three stocks in the short term – Varun Beverages Ltd, Maruti Suzuki India Ltd, and Polycab India Ltd.

Varun Beverages Ltd

Buy | CMP : ₹456 | SL : ₹440 | TARGET : ₹480

The stock witnessed a major rebound from lower levels as the FMCG & Consumer Durable space touched its major support levels on technical charts. With a stoploss being strictly placed at 440 mark, we expect upside to go towards 480 and higher levels. Strong recovery from lower levels along with momentum picking up with volumes, VBL makes a good buy at current levels.

Maruti Suzuki India Ltd

Buy | CMP : ₹11,690 | SL : ₹11,300 | TARGET : ₹12,000

The stock has entered oversold conditions, with RSI continuing to witness a decline from higher levels and touching that 31 mark on the lower side. With the trend on auto stocks being positive and Maruti being the safer bet, we feel momentum should ideally pick up in the next few days on the stock. A strict SL should be kept at 11,300 for potential upside targets of 12,000 and above.

Polycab India Ltd

Buy | CMP : ₹4,829 | SL : ₹4,555 | TARGET : ₹5,500

The stock is indicating good signs of a trend reversal coming in from lower levels. On its daily time frame charts, the stock has entered into oversold conditions, with RSI touching as low as 26 mark. Technically, the stock looks well positioned for a strong upside move from here with limited downside risk. A strict SL should be kept at 4,555 mark for potential upside targets of 5,500 and above.

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.