Stock market recommendations : According to Sudeep Shah, Head - Technical Research and Derivatives, SBICAP Securities, Trent and Bharti Airtel are the top stock picks for today. Here’s his view on Nifty, Bank Nifty and the top stock picks with a 3-month horizon:
Index View: Nifty View
Global equity markets staged an upside rally after the US President Donald Trump announced a ceasefire agreement between Iran and Israel, easing geopolitical tensions and reviving global risk appetite. This positive sentiment lifted Dow Futures and major Asian indices, which are currently trading higher.
Reflecting the global optimism, India’s benchmark index Nifty opened with a gap-up on Tuesday and is now hovering near the upper boundary of its ongoing consolidation zone between 25222 and 24462 — a range it has been oscillating within for the past 29 consecutive trading sessions.
Technically, the index is trading above both its short-term and long-term moving averages, a sign of underlying strength. Notably, the short-term averages, which had been moving sideways in recent sessions, have now started to slope upwards. Meanwhile, the daily RSI is approaching the key 60 mark — a development typically viewed as bullish.
Given the current chart structure and improving momentum indicators, the index appears poised to continue its northward trajectory. In the near term, it could test levels of 25400, followed by 25550. On the downside, the support zone of 25080–25050 is expected to cushion any pullback.
Bank Nifty View:
The banking benchmark index, Bank Nifty, has recently found support near its 34-day EMA and has since been trending higher in a gradual but steady manner. It now trades just a stone’s throw away from its all-time high levels. All key moving averages are aligned positively, and momentum-based indicators are pointing toward sustained bullish strength in the index.
Given the prevailing technical structure, we expect Bank Nifty to extend its upward momentum in the near term and potentially test the 57000 mark, followed by 57500. On the downside, the support zone of 56300–56200 is likely to offer immediate protection against any short-term pullback.
Stock Recommendations:
TRENT
The stock marked a low of 4488 in the month of April 2025 and thereafter started marking the sequence of higher tops and higher bottoms along with relatively higher volume. Recently, the stock has started outperforming the frontline indices. The ratio chart of the stock as compared to the Nifty index has given a consolidation breakout on a daily scale. Currently, the stock is trading above its short and long-term moving averages. These averages are in the rising mode, which is a bullish sign. The daily RSI is trading at a 9-month high, which is a bullish sign.
Hence, we recommend to accumulate the stock in the zone of 6150-6100 with a stoploss of Rs 5730 level. On the upside, it is likely to test the level of 6860 in the short term.
BHARTI AIRTEL
The stock has given a 9-week consolidation breakout on a weekly scale along with relatively higher volume. In addition, on breakout week, it has formed a sizable bullish candle, which adds strength to the breakout. As the stock is trading at all-time high levels all the moving averages and momentum-based indicators are showing strong bullish momentum in the stock. The weekly RSI has formed a strong base near the 60 level and thereafter witnessed a strong rebound, which is a bullish sign as per RSI range shift rules.
Hence, we recommend to accumulate the stock in the zone of 1940-1920 with a stoploss of Rs 1830 level. On the upside, it is likely to test the level of 2150 in the short term.
Disclaimer: The opinions, analyses and recommendations expressed herein are those of brokerage and do not reflect the views of The Times of India. Always consult with a qualified investment advisor or financial planner before making any investment decisions.
Index View: Nifty View
Global equity markets staged an upside rally after the US President Donald Trump announced a ceasefire agreement between Iran and Israel, easing geopolitical tensions and reviving global risk appetite. This positive sentiment lifted Dow Futures and major Asian indices, which are currently trading higher.
Reflecting the global optimism, India’s benchmark index Nifty opened with a gap-up on Tuesday and is now hovering near the upper boundary of its ongoing consolidation zone between 25222 and 24462 — a range it has been oscillating within for the past 29 consecutive trading sessions.
Technically, the index is trading above both its short-term and long-term moving averages, a sign of underlying strength. Notably, the short-term averages, which had been moving sideways in recent sessions, have now started to slope upwards. Meanwhile, the daily RSI is approaching the key 60 mark — a development typically viewed as bullish.
Given the current chart structure and improving momentum indicators, the index appears poised to continue its northward trajectory. In the near term, it could test levels of 25400, followed by 25550. On the downside, the support zone of 25080–25050 is expected to cushion any pullback.
Bank Nifty View:
The banking benchmark index, Bank Nifty, has recently found support near its 34-day EMA and has since been trending higher in a gradual but steady manner. It now trades just a stone’s throw away from its all-time high levels. All key moving averages are aligned positively, and momentum-based indicators are pointing toward sustained bullish strength in the index.
Given the prevailing technical structure, we expect Bank Nifty to extend its upward momentum in the near term and potentially test the 57000 mark, followed by 57500. On the downside, the support zone of 56300–56200 is likely to offer immediate protection against any short-term pullback.
Stock Recommendations:
TRENT
The stock marked a low of 4488 in the month of April 2025 and thereafter started marking the sequence of higher tops and higher bottoms along with relatively higher volume. Recently, the stock has started outperforming the frontline indices. The ratio chart of the stock as compared to the Nifty index has given a consolidation breakout on a daily scale. Currently, the stock is trading above its short and long-term moving averages. These averages are in the rising mode, which is a bullish sign. The daily RSI is trading at a 9-month high, which is a bullish sign.
Hence, we recommend to accumulate the stock in the zone of 6150-6100 with a stoploss of Rs 5730 level. On the upside, it is likely to test the level of 6860 in the short term.
BHARTI AIRTEL
The stock has given a 9-week consolidation breakout on a weekly scale along with relatively higher volume. In addition, on breakout week, it has formed a sizable bullish candle, which adds strength to the breakout. As the stock is trading at all-time high levels all the moving averages and momentum-based indicators are showing strong bullish momentum in the stock. The weekly RSI has formed a strong base near the 60 level and thereafter witnessed a strong rebound, which is a bullish sign as per RSI range shift rules.
Hence, we recommend to accumulate the stock in the zone of 1940-1920 with a stoploss of Rs 1830 level. On the upside, it is likely to test the level of 2150 in the short term.
Disclaimer: The opinions, analyses and recommendations expressed herein are those of brokerage and do not reflect the views of The Times of India. Always consult with a qualified investment advisor or financial planner before making any investment decisions.
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