According to Bajaj Broking Research, Sagility India and Aditya Birla Capital (AB Capital) are among the best stock picks for today. Here’s a simple breakdown of their views on Nifty, Bank Nifty, and stock recommendations.
Nifty Outlook
- In the last two weeks, the stock market has bounced back strongly after being oversold.
- Positive news around a possible GST policy change, easing India-China tensions, and hopes of a softer stance from the US Federal Reserve have boosted investor confidence.
- Nifty has recovered from near 24,400 and is now trading above 25,000, which is a strong psychological level.
- The index is also trading above its 20-day and 50-day moving averages, showing strong momentum.
Key Levels to Watch:
- Resistance: Around 25,250 (if it breaks above this, Nifty could rise towards 25,500–25,600).
- Support: Around 24,600–24,500 (a strong buying zone).
- Investors are advised to buy gradually in good quality stocks, especially those that may benefit from GST changes.
Bank Nifty Outlook
- For the past 2–3 weeks, Bank Nifty has been moving in a narrow range.
- The index is getting strong support near 54,900 (100-day moving average).
Key Levels to Watch:
- Support: 54,800–55,000 (if it breaks below, it may fall to 54,000).
- Resistance: 56,000–56,300 (if it moves above, it may rise to 57,000).
- Until a breakout happens, traders should focus only on selected strong banking stocks.
Stock Recommendations
1. Sagility India
- Buy Range: ₹45.00–46.00
- Target Price: ₹55.00
- Expected Return: 21%
- Time Frame: 12 months
Why Buy?
- The stock is in a strong uptrend, making higher highs and higher lows.
- Moving averages show bullish momentum.
- It has broken out of a long consolidation zone with good trading volumes, which indicates fresh buying.
- Likely to move towards ₹55 in the coming months.
2. Aditya Birla Capital (AB Capital)
- Buy Range: ₹286–292
- Target Price: ₹320
- Stop Loss: ₹273
- Expected Return: 11%
- Time Frame: 3 months
Why Buy?
- The stock has broken out of a Cup & Handle chart pattern, which usually signals more upside.
- RSI indicator also supports the bullish trend.
- Expected to rise towards ₹320 in the short term.
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In short:
- Nifty is strong above 25,000; Bank Nifty is consolidating.
- Best stock picks for today: Sagility India (target ₹55) and AB Capital (target ₹320).
