Market expert Aakash K Hindocha, Deputy Vice President at Nuvama Professional Clients Group, has shared his top stock picks for today – Force Motors, Maruti Suzuki, and MCX. He has also given his outlook on Nifty and Bank Nifty.
Nifty Outlook
- Nifty is facing resistance between 24,700–24,750 due to a downward trendline.
- A major upward trend may start only if Nifty closes above 24,800.
- On the downside, the next support is at 24,200, and the 200-day moving average (major support) is around 24,000. Any fall to this level should be watched closely.
Read more: Stock Market Update: Nifty50 Opens Above 24,600; Sensex Near 80,600
Bank Nifty Outlook
- Bank Nifty is also showing weakness, with rallies being sold into.
- A major upward trend may begin if it closes above 55,800.
- Strong support is between 54,000–54,300.
Stock Recommendations for Today
1. Force Motors – BUY
- Last Price: ₹20,047
- Stop Loss: ₹19,200
- Target: ₹21,500
- The stock is moving higher despite overall market weakness and is trading near its all-time high. Strong quarterly results have boosted momentum, and a 10–15% upside is possible in the short term.
2. Maruti Suzuki – BUY
- Last Price: ₹12,834
- Stop Loss: ₹12,350
- Target: ₹14,000
- Auto stocks are showing strength despite the weak market. Maruti has recovered all losses from last year and is near its all-time high. A close above ₹13,000 could trigger an 8–10% gain.
3. MCX – BUY
- Last Price: ₹8,339
- Stop Loss: ₹7,950
- Target: ₹9,000
- After consolidating, MCX is breaking out with strong volumes. The upward trend may continue, giving an 8–10% rise and helping it reclaim its all-time high.
Today’s top buy calls are Force Motors, Maruti Suzuki, and MCX. Nifty and Bank Nifty need to break key resistance levels for a strong upward move, while support levels should be monitored for any downside risk.
Note: These are the expert’s opinions. Always talk to a professional financial advisor before investing.
