Recommended stocks to buy today: Top stock picks by market experts for 17 April

While global cues remained weak, limiting overall gains, the broader market outperformed, with the BSE Midcap and Smallcap indices climbing 0.62% and 0.91%, respectively. Investors saw their wealth swell by nearly ₹3 lakh crore in a day, as the total market capitalisation of BSE-listed companies surged to ₹415 lakh crore.

Here are the best stock recommendations for Thursday, 17 April, which you could consider trading in our view. Today's picks are from the insurance, and PSU bank sectors.

Three stocks to buy today, as recommended by Ankush Bajaj:

Buy: Indian Bank (current price: ₹568.00)

• Why it’s recommended: The stock has given a strong breakout above ₹555, confirming bullish momentum. On the lower time frame, RSI is trending upwards and the price is trading above multiple key moving averages, indicating strength.
• Key metrics: Breakout level: ₹555; RSI: Trending bullish; Moving averages: Above key short and long-term EMAs
• Technical analysis: A clean breakout backed by rising RSI and support from multiple moving averages signals a continuation of the uptrend. The stock has the potential to reach its next resistance zone in the coming days.
• Risk factors: PSU banks may face volatility due to changes in interest rates, credit growth outlook, or regulatory decisions.
• Buy at: ₹568.00
• Target price: ₹587- ₹592 in 1-2 weeks
• Stop loss: ₹557

Buy: Bank of India (current price: ₹115.50)

• Why it’s recommended: The stock has given a triangle pattern breakout from ₹111, suggesting a bullish reversal. On the hourly chart, ADX is trading above 35, indicating strong trend strength and continued upside momentum.
• Key metrics: Breakout level: ₹111 (triangle pattern); ADX: Above 35 (bullish); Trend: Positive
• Technical analysis: A breakout from a well-formed triangle pattern, supported by a strong ADX reading, points toward a potential upward rally. The stock is showing signs of trend continuation.
• Risk factors: PSU bank stocks can be influenced by credit policy changes, NPA concerns, and sector-specific reforms.
• Buy at: ₹115.50
• Target price: ₹125- ₹128 in 1-2 weeks
• Stop loss: ₹111
  
  Also read: How the Gensol debacle wrecks Jaggis' other IPO plans

Buy: Bank of Baroda (current price: ₹240.80)

• Why it’s recommended: The stock has given a bullish pennant breakout from the ₹235 level, indicating the continuation of an uptrend. On the lower time frame, ADX is at 33 and RSI is trading above 67 — both suggesting strong bullish momentum.
• Key metrics: Breakout level: ₹235 (bullish pennant); ADX: 33 (trending); RSI: Above 67 (bullish)
• Technical analysis: The bullish pennant breakout, combined with a rising RSI and supportive ADX, confirms strong trend continuation. The stock is poised to test its next resistance levels soon.
• Risk factors: PSU banks may react to regulatory policy shifts, market sentiment, or broader economic indicators.
• Buy at: ₹240.80
• Target price: ₹250– ₹252 in 1–2 weeks
• Stop loss: ₹235

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

Buy: GAEL (current price: ₹124.98) 

• Why it’s recommended: GAEL has shown resilience in the packaged foods sector, with steady growth and favorable market conditions supporting its upward trajectory. Buying interest at lower levels indicates potential for recovery.
• Key metrics: P/E: 22.7, 52-week high: ₹421, volume: 232.08k.
• Technical analysis: Support at ₹109, resistance at ₹135.
• Risk factors: Vulnerability to fluctuations in raw material costs and export demand could impact profitability.
• Buy at: CMP and dips to ₹120.
• Target price: ₹130-135 in 3 months.
• Stop loss: ₹117.

Buy: ALKYLAMINE (current price: ₹1831.40) 

• Why it’s recommended: Alkyl Amines is a strong player in specialty chemicals, with consistent revenue growth and a bullish outlook supported by market trends.
• Key metrics: P/E: 35.77, 52-week high: ₹2797, volume: 35.87k.
• Technical analysis: Support at ₹1680, resistance at ₹1940.
• Risk factors: Dependency on global chemical prices and raw material availability may pose risks.
• Buy at: CMP and dips to ₹1780.
• Target price: ₹1900-2000 in 3 months.
• Stop loss: ₹1750.

Buy: HOMEFIRST (current price: ₹1175.10) 

• Why it’s recommended: HOMEFIRST has demonstrated strong growth in the housing finance sector, with increasing demand for affordable housing loans driving its performance.
• Key metrics: P/E: 36.35, 52-week high: ₹1221, volume: 422.8k.
• Technical analysis: Support at ₹1050, resistance at ₹1250.
• Risk factors: Sensitivity to interest rate changes and economic conditions could affect loan disbursements.
• Buy at: CMP and dips to ₹1125.
• Target price: ₹1200-1250 in 3 months.
• Stop loss: ₹1100.
  
  Also read: Havells India is insuring its growth strategy with a stake in Goldi Solar

Best stock recommendations today | Two stock picks by MarketSmith India:

Buy: General Insurance Corp. of India (current price: ₹417.35)

• Why it’s recommended: Strong financial performance, impressive solvency ratio
• Key metrics: P/E: 9.62, 52-week high: ₹525.50, volume: ₹4.48 Lakh
• Technical analysis: Reclaimed 100-DMA
• Risk factors: Exposure to natural catastrophes, underwriting performance challenges
• Buy at: ₹417.35
• Target price: ₹475 in 3 months
• Stop loss: ₹390

Buy: Indian Bank (current price: ₹568)

• Why it’s recommended: Stable asset quality, strong earnings growth
• Key metrics: P/E: 7.08, 52-week high: ₹632.70, volume: ₹38.10 Cr
• Technical analysis: Downward sloping trendline breakout
• Risk factors: Asset quality concerns in retail lending, interest rate fluctuations
• Buy at: ₹568
• Target price: ₹670 in 3 months
• Stop loss: ₹520
  
  Also read: The US-China fallout just opened a door, and these Indian companies are walking through it

About the authors:

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

Ankush Bajaj is a Sebi-registered research analyst. His registration number is INH000010441.

MarketSmith India: Trade name: William O'Neil India Pvt. Ltd. Its Sebi-registered research analyst registration number is INH000015543.

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."