Hesitation continues to build as the market struggles to decode sentiment. However, the continued promise of a revival keeps hopes alive. At the moment, limited rangebound movement is keeping the market restrained.
Here are three stocks to trade as recommended by Raja Venkatraman of NeoTrader:
Best stocks to buy today (All Buy trades are rates of Equity & Sell rates are based on F&O)
Aditya Birla Fashion and Retail Ltd: Buy above ₹67 | Stop ₹63 | Target ₹77 (multiday)
Metro Brands Ltd: Buy above ₹1,110 | Stop ₹1,050 | Target ₹1,225 (multiday)
Great Eastern Shipping Company Ltd: Buy above ₹1,725 | Stop ₹1,625 | Target ₹1,925 (multiday)
Stock market today
On 21 May 2026, Indian markets pared early gains and slipped into the red as profit booking, rupee weakness, and concerns over a possible Reserve Bank of India rate hike weighed on sentiment.
The Sensex, which had surged more than 600 points in morning trade, retreated sharply to close at 75,196.74, down 121.65 points or 0.16%, while the Nifty settled at 23,657.50, marginally lower by 1.50 points. The rupee’s slide to a record low near 97 against the US dollar heightened investor caution, with reports suggesting the RBI may consider tightening measures to stabilize the currency.
Foreign institutional investors (FIIs) continued their selling streak, offloading equities worth ₹1,597 crore, further pressuring domestic sentiment. Weak global cues also added to the cautious mood, with Asian markets trading lower and US futures pointing to a subdued opening. Sectoral action was mixed, with IT, Media, and FMCG offering resilience, while metals and oil-linked stocks dragged indices lower.
Outlook for trading
As the market remains muted, triggered by geopolitical tensions, it tested our patience on Monday but did not give up the lower levels. However, the trend seen over the last few days highlights that the Nifty managed to hold on and did not give up.
In the last report, we had mentioned: “From the charts above, we can see that the trends are down into some strong set of supports yet again.”
On the charts, we note that after the recent consolidation, the trends have kept us guessing throughout the week since Monday. Taking some cues from the Option data, we can add that the levels around 24,000 that had steady Put writers have now ensured that the upward possibility gets more wings. With the PCR nearing 0.80, we can expect some trended move today. Stay alert.
The emerging trend clearly suggests that the dips last week held the support zone, and the gap-down opening was covered, ensuring prices traded above the range that developed over the last few days. Hence, one should track the trends that are in progress as the upmove needs to continue its way above 24,000 (Nifty Spot) to renew the bullish bias. Moments on hourly charts indicate that prices after settling down have resumed selling pressure. With the gradual, hesitant rise emerging from lower levels, we can expect it to remain hesitant.
For shorts to be taken, we need to see the Nifty move above 24,000, which is the immediate support level per the Open Interest data. If we witness a 30-minute range breakout on Tuesday, we can consider trading on either side, as the trends remain tentative and we expect some resistance to kick in.
While the trends in the indices remain unclear, there is plenty of action in the stocks.
Three stocks to trade, recommended by NeoTrader’s Raja Venkatraman:
ABFRL (Cmp ₹66.76)
Why it’s recommended: ABFRL is a prominent Indian fashion and lifestyle company, a subsidiary of the Aditya Birla Group. The stock has been in a decline over the last six months, and the formation of a Cup-and-Handle pattern over the last few days has raised the possibility of an upside move. Ahead of the numbers, we can see that momentum is picking up, and an upward move is possible now. With the midcap index doing well, we could consider going long.
Key metrics:
52-week high: ₹98,
Volume: 8.1M
Technical analysis: Support at ₹60 | Resistance at ₹80.
Risk factors: Intensifying retail competition, high vulnerability to economic downturns, margin pressure from aggressive expansions, and reliance on consumer discretionary spending.
Buy: Above ₹67.
Stop loss: ₹63.
Target price: ₹77 (Two months)
METROBRAND (Cmp ₹1,108.80)
Why it’s recommended: Metro Brands Ltd (MBL) is one of India’s largest footwear speciality retailers, offering a wide range of branded products for men, women, and children. The power sector is now in demand. After the sharp sell-off, prices appeared to have found strong support at the Kumo cloud region, and the revival from lower levels is highlighting strong upside potential. The Relative Strength Index is rising and has crossed 60 levels, indicating some potential to the upside. One can consider going long.
Key metrics:
P/E: 75.41,
52-week high: ₹1,340.40,
Volume: 294.14K.
Technical analysis: Support at ₹1,025 | Resistance at ₹1,250.
Risk factors: Reliance on third-party manufacturers, vulnerability to retail lease renewals, and intense competition from domestic and international brands.
Buy: Above ₹1,110
Stop loss: ₹1,050
Target price: ₹1,225 (Two months)
GESHIP (Cmp ₹1,719.60)
Why it’s recommended: The Great Eastern Shipping Company Ltd (NSE: GESHIP) is India’s largest private sector shipping and oilfield services provider. The company operates a diversified modern fleet of crude carriers, petroleum product tankers, gas carriers, and dry bulk vessels to safely transport commodities globally. The stock has been featured in our article before, and it continues to attract demand. After giving a dividend, the trends remain intact. The steady rise in the Relative Strength Index after stabilising at the neutral zone suggests that we could be looking at some upside.
Key metrics:
P/E Ratio: 10.41
52-week high: ₹1,798
Volume: 2.61M
Technical analysis: Support at ₹1,605 | Resistance at ₹1,950.
Risk factors: Cyclical shipping charter rates, geopolitical supply chain disruptions driving up operating expenses, and global commodity demand fluctuations
Buy: Above ₹1,725
Stop loss: ₹1,625.
Target price: ₹1,925.
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.