Top 3 stocks to buy today, 15 April: Raja Venkatraman recommends

Stock market on 11 April

The benchmark indices saw a remarkable surge on Friday, wrapping up a turbulent week with a strong recovery. The Sensex soared by over 1,300 points, while the Nifty 50 reclaimed 22,700. The rally was not driven by a single event or announcement, but the convergence of various factors.

Domestic institutional investors (DIIs) showed high optimism in the Indian derivatives market, hitting an all-time high in long positions on index futures. This aggressive move signals their confidence in a market revival, even as foreign institutional investors (FIIs) maintain a more guarded approach. Analysts suggest that this spike in net long positions may be linked to fund managers hedging their significant cash holdings ahead of a truncated trading week, which only features three sessions.

Also read: TCS commentary offers some optimism, but the Street isn’t buying it

Meanwhile, the rupee's performance on April 11 ranked as the second weakest among Asian currencies, influenced by global uncertainties. These concerns arose due to the introduction of reciprocal tariffs by US President Donald Trump on 2 April, which he has since paused.

Outlook for trading

Broader indices were unable to contain the profit booking that emerged after the budget, dragging the market lower. Despite a rebound on the back of Trump keeping the world guessing about his next move, the markets are clearly unable to hold on convincingly. While every attempt was made to keep the markets in a positive territory, intermittent declines continue to retest the bullish resolve. Pronounced volatility is causing disturbance in forming the bias, thus making markets jittery.

Trends remained muted until Nifty Bank started to move ahead. With the trends continuing to show upward traction, the markets began to gain in momentum. With the results season in play, companies continue to fall short of expectations. As we are in an environment of ad hoc triggers, the markets will likely continue to oscillate over the next few days.

Also read | Siemens split: Energy arm looks bright, but residual businesses face bumpy ride

A volatile environment is now part of the ever-changing market scenario. Risk management is critical, as the lack of clarity is greater than ever. Global cues have always had a hold on domestic sentiment. Now, the Trump tariff saga has global marketsoscillating. With no clarity on the final outcome, the Nifty continue to oscillate between 22,500 and 23,200.

Three stocks to buy today, recommended by NeoTrader’s Raja Venkatraman

Buy:DEEPAKFERT (current price: ₹1,206.45)

• Why it’s recommended: Strong demand recovery in the chemical and fertiliser segment supports price stability and growth potential.
• Key metrics: P/E: 15.3, 52-week high: ₹1443, volume: 632k
• Technical analysis: Support at ₹900, resistance at ₹1,350
• Risk factors: Dependence on seasonal agricultural trends and raw material price volatility.
• Buy at: CMP and dips to ₹1,150
• Target price: ₹1,295-1,320 in 3 months
• Stop loss: ₹1,130

Buy:PNBHOUSING (current price: ₹979.40)

• Why it’s recommended: Signs of reversal from oversold zones signal potential upside. Demand at lower levels showcases optimism for recovery in coming sessions.
• Key metrics: P/E: 8.7, 52-week high: ₹1202, volume: 256.32k
• Technical analysis: Support at ₹760, resistance at ₹1,200
• Risk factors: Dependence on real estate market performance and regulatory changes in the housing finance sector.
• Buy at: CMP and dips to ₹930.
• Target price: ₹1,150 in 3 months
• Stop loss: ₹900

Buy:MEDPLUS (current price: ₹789.20)

• Why it’s recommended: Gradual accumulation at critical support levels highlights strong investor interest, supported by consistent growth in revenue.
• Key metrics: P/E: 32.4, 52-week high: ₹1,215, volume: 377.85k
• Technical analysis: Support at ₹700, resistance at ₹925
• Risk factors: Competition in the retail pharmacy space and pressure on margins.
• Buy at: CMP and dips to 760.
• Target price: ₹865-885 in 3 months.
• Stop loss: ₹745

Also read | Pharma companies on edge over Trump tariff tantrum: ‘Will he, won’t he?’

Raja Venkatraman is co-founder, NeoTrader. His Sebi-registered research analyst registration no. is INH000016223.

Investments in securities are subject to market risks. Read all the related documents carefully before investing. Registration granted by Sebi and certification from NISM in no way guarantees performance of the intermediary or provide any assurance of returns to investors.

Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before making any investment decisions.