Market expert Aakash K Hindocha, Deputy Vice President – WM Research at Nuvama Professional Clients Group, has shared his top stock recommendations for today. His picks include Nykaa, Kaynes, and Dr Reddy’s Laboratories. He also gave his views on Nifty and Bank Nifty trends.
Nifty Outlook
- On Monday, Nifty formed an “inside bar” pattern and opened lower, falling throughout the session ahead of the holiday on Wednesday.
- The index closed below the key support of 24,800, which now opens the way for further downside towards 24,500 – 24,350.
- Charts show a bearish head and shoulders pattern, with crucial support at 24,450. If it breaks this level after expiry, more pressure may come in.
Bank Nifty Outlook
- Bank Nifty is weaker compared to Nifty and has already broken support at 55,050, which could drag it below 54,000.
- The index closed at a 3.5-month low ahead of expiry on Thursday.
- On the upside, 55,000 will act as resistance, while the downside could extend if levels below 54,000 are broken.
Stock Recommendations
1. Nykaa (BUY)
- Last Price: ₹231.65
- Stop Loss: ₹223
- Target: ₹252
Nykaa recently broke out of a 3-year triangle pattern in June 2025. It also gave its highest close in 3 years, with a strong cup and handle breakout on charts. This could push the stock higher by 18–20%, with an initial target of ₹250+.
2. Kaynes (BUY)
- Last Price: ₹6,197
- Stop Loss: ₹5,980
- Target: ₹6,620
Kaynes had a cup and handle breakout in early August 2025. Since then, the stock has been consolidating near the breakout zone. Recent price action suggests a northward move, and the stock looks set to climb towards ₹6,620.
3. Dr Reddy’s Laboratories (BUY)
- Last Price: ₹1,263
- Stop Loss: ₹1,230
- Target: ₹1,355
Dr Reddy’s is trading above its 200-day moving average (DMA) and has shown a bullish flag breakout. This indicates a likely move towards ₹1,350–1,360, where another breakout could take place.
Nykaa, Kaynes, and Dr Reddy’s are the top buy calls for today, while both Nifty and Bank Nifty show weakness and may face more downside pressure in the near term.
Note: These are the expert’s opinions. Always talk to a professional financial advisor before investing.
