Shares to buy in short term: Mehta Equities' Riyank Arora suggests Suzlon, SJVN, Tata Tech stock to buy

Stock market today: The domestic benchmark indices, Nifty 50 and Sensex, increased as investors purchased financial stocks following the central bank's easing of the deposit buffer rate for banks.

As of 11:15 IST, the Nifty 50 gained 0.38%, reaching 24,216.15, while the Sensex rose by 0.40% to 79,724.99. On Monday, the Reserve Bank of India (RBI) instructed lenders to apply a lower-than-previously suggested buffer rate of 2.5% on digitally linked deposits, allowing a one-year period for compliance. The central bank also lowered the 'run-off' factor for wholesale deposits from non-financial entities, such as partnership firms and trusts, from 100% to 40%.

Kotak Mahindra Bank and HDFC Bank experienced increases of 2.3% and 2.1%, respectively, propelling financials up by 1%. Metals saw a 1% rise following the government’s imposition of a temporary safeguard duty on certain steel imports to limit low-cost shipments, particularly from China. Conversely, IT stocks dipped 0.5% after experiencing a more than 2% increase in the prior session.

Market Views - Riyank Arora, Technical Analyst, Mehta Equities Ltd

Nifty 50

Nifty 50 has given a break above its 200 day moving average and successfully managed to close above 24,000. Given the current market trend, we feel that 24,000 should now serve as a major support on any pull-back. Technically, 24,200 and 24,300 remain key resistances to watch out for on the upper side. Overall, market is expected to stay in bulls grip and one should focus on buying the dip.

Bank Nifty

Bank Nifty has gone above its all-time high resistance mark of 54,467 and managing to hold well above the same. Given its current technical structure and trend, we feel that bank nifty should head towards 56,000 and 56,500 odd levels. A strict stoploss should be kept at 55,000 mark to manage risk well here.

Shares to buy for short term

Riyank Arora recommends these three stocks in the short term - Suzlon Energy, SJVN, and Tata Technologies.

Suzlon Energy

Buy | CMP: ₹59 | SL: ₹55 | Target: ₹70

Suzlon share price is showing strong price action, holding above its key support of ₹55. The stock has been forming higher lows, which indicates buying pressure at lower levels. Volumes have been steadily rising, confirming growing investor interest. With momentum picking up in the renewable energy space, Suzlon looks well-positioned for a move toward ₹70. As long as ₹55 is protected, the trend remains positive and supportive of further upside.

SJVN

Buy | CMP: ₹100 | SL: ₹95 | Target: ₹115

SJVN share price is consolidating above its breakout zone around ₹98–100 and is holding key moving averages. The stock has shown consistent strength with supportive volumes, signaling accumulation. It belongs to the power sector, which is currently seeing strong investor focus due to policy support and high demand expectations. If the ₹95 level holds, SJVN could rally towards ₹115 in the short term. The structure remains bullish and favors buying on dips.

Tata Technologies

Buy | CMP: ₹703 | SL: ₹690 | Target: ₹740

Tata Technologies share price has shown signs of recovery after a brief pullback and is now finding strong support near ₹690. The stock is trading with improving momentum, and technical indicators like RSI are turning bullish again. Being part of the auto and tech themes, it’s likely to benefit from broader sector strength. A breakout above ₹710 could accelerate the uptrend toward ₹740. The setup looks attractive for short-term gains with limited downside risk.

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.