Shares to buy before Budget 2025: Rajesh Palviya of Axis Securities recommends 4 stocks to buy, hold, and accumulate
- Shares to buy before Budget 2025: Rajesh Palviya has recommended to buy, hold, and accumulate Indian Railway Finance Corporation Ltd (IRFC), Bharat Dynamics Ltd, Navin Fluorine International Ltd, and Britannia Industries Ltd
Stock market today: The major domestic indices, Nifty 50 and Sensex, started off the day slightly higher on Friday as worries about potential US tariffs affecting BRICS countries made investors hesitant.
The Nifty 50 index began at 23,296.75, up 47.25 points (0.2%), while the Sensex opened at 76,888.89, increasing by 129.08 points (0.17%).
Market analysts pointed out the uncertainty regarding the Trump administration's possible tariff announcement on February 1, which may affect global trade and inflation. If the tariffs are postponed, investor sentiment may improve.
Further, Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, pointed out that both expectations and actual outcomes of the Budget will affect the market today and tomorrow. Given that we are approaching the Budget without a pre-Budget surge, the likelihood of a rally after the Budget is increased if it presents growth-promoting measures such as reductions in personal income tax.
However, it is essential to recognize that the Budget's effects will be short-lived, lasting only a few days at most. The medium to long-term direction of the market will instead be driven by GDP and earnings growth. Hence, investors should monitor indicators regarding these key macroeconomic trends.
Share Market Tips and Nifty 50 Outlook by Rajesh Palviya, SVP - Technical and Derivatives Research, Axis Securities
Nifty 50
On the daily and weekly time frames, the benchmark index continues to extend its downtrend, forming a series of lower tops and bottoms. However, in the past three weeks, it has continued to consolidate within 23,500-22,800 levels, indicating short-term sideways movement. Hence, any either-side breakout may indicate further direction. Any sustainable move above 23,500 levels may cause a small pullback rally towards 23,800-24,000 levels. On the other hand, 23,000-22,800 levels will provide a crucial support zone. The index is sustaining below its 20,50, 100, and 200-day SMA, which reconfirms the overall bearish trend.
Indian Railway Finance Corporation Ltd (IRFC) Cmp: ₹148
Since September 2024, the IRFC stock has been consolidating within the 165-130 range, indicating a medium-term sideways trend. However, this week's price action shows a strong rebound from several support levels around 135, accompanied by high volumes. Additionally, the daily and weekly strength indicator, RSI, is in favorable terrain, suggesting increasing strength.
Investors should buy, hold, and accumulate this stock. Its expected upside is ₹160-175, and its downside support zone is 800-750140-135.
Bharat Dynamics Ltd Cmp: ₹1,267
On the daily timeframe, the Bharat Dynamics stock is trending higher, forming a series of higher tops and bottoms, indicating a positive bias. The stock has recaptured its 20, 50, 100, and 200-day SMAs and rebounded sharply, which reconfirms bullish sentiments. Huge volumes at and around the breakout zone of 1,355 signify increased participation. The daily and weekly strength indicator RSI is in favorable terrain, indicating rising strength.
Investors should buy, hold, and accumulate this stock. Its expected upside is ₹1,430-1,515, and its downside support zone is ₹1,220-1,190.
Navin Fluorine International Ltd Cmp: ₹3,910
With the current close, the Navin Fluorine stock has decisively surpassed the "multiple resistance" zone of 3,840 levels on a closing basis. This breakout is accompanied by huge volumes, indicating increased participation. The stock is well placed above its 20, 50, 100, and 200-day SMAs, which reconfirms bullish sentiments. The weekly Bollinger Bands buy signal shows increased participation. The daily and weekly strength indicator RSI is in favorable terrain, indicating rising strength
Investors should buy, hold, and accumulate this stock. Its expected upside is ₹4,220-4,450, and its downside support zone is ₹3,750-3,650.
Britannia Industries Ltd Cmp: ₹5,105
The daily chart shows that the Britannia Industries stock is well placed above its "consolidation" breakout zone of 5,020. The positive crossover of the 20- and 50-day SMAs signifies a short-term trend reversal. The daily and weekly strength indicator (RSI) is in positive terrain, which shows rising strength.
Investors should buy, hold, and accumulate this stock. Its expected upside is ₹5,285-5,380, and its downside support zone is ₹5,030-4,990.
Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decision.
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