Shares to buy in short term: Mehta Equities’ Riyank suggests BEL, Usha Martin, Titan stock to buy

Stock market today: The Indian stock markets began on a slightly positive note on Tuesday, with both benchmark indices showing gains amid ongoing foreign portfolio investor (FPI) selling and pressure in major sectors. After experiencing their longest decline in nearly seven months, the markets rebounded as major financial stocks increased following eased lending regulations, and metal companies benefited from a weaker dollar.

The Nifty 50 climbed 0.18% to reach 24,677.9, while the BSE Sensex rose 0.14% to 80,469.39 at 10:02 IST. The Nifty 50 index started the day at 24,691.95, reflecting an increase of 57.05 points or 0.23 percent, whereas the Sensex opened at 80,510.39, gaining 145.45 points or 0.18 percent.

Despite the optimistic opening, analysts mentioned that market sentiment remains cautious due to global uncertainties and challenges in various sectors.

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

Nifty 50 – Technical View

Nifty 50 closed below the crucial 25,000 mark, reflecting sustained selling pressure and forming a bearish structure. A further dip below 24,850 could accelerate the decline toward 24,750–24,600. Indicators such as RSI and momentum remain weak, signaling bearish bias in the near term. Resistance is capped around 25,000. Unless Nifty 50 reclaims this level, sentiment is likely to stay negative, and traders should adopt a cautious, sell-on-rise approach.

Bank Nifty

Bank Nifty slipped below 55,000, signaling weakness in frontline banking stocks. Immediate support is at 54,700, followed by 54,400 if selling persists. The index faces stiff resistance near 55,300, and only a breakout above this could revive bullish sentiment. Momentum indicators remain under pressure, confirming the weak outlook. The short-term trend is negative, and traders are advised to remain cautious, deploying strict stop-losses while adopting a sell-on-rise strategy.

Shares to buy for short term

Riyank Arora recommends these three stocks in the short term - Bharat Electronics Ltd (BEL), Usha Martin Ltd, and Titan Company Ltd.

BEL – Buy | CMP: ₹402 | SL: ₹390 | Target: ₹440

BEL continues to display bullish momentum, with strong support from robust order flows in the defence segment. The stock is trading above key moving averages, reflecting sustained buying interest. RSI is trending higher, suggesting more upside potential. Sustaining above ₹402 could push the stock toward ₹440 in the short term.

Usha Martin – Buy | CMP: ₹469 | SL: ₹455 | Target: ₹495

Usha Martin is showing resilience after consolidating near its support levels. The stock remains well-positioned above crucial moving averages, backed by strong demand in the wire ropes and speciality steel segment. Momentum indicators are firm, suggesting further upside toward ₹495, while maintaining ₹455 as a protective stop-loss.

Titan – Buy | CMP: ₹3,437 | SL: ₹3,380 | Target: ₹3,550

Titan has bounced back with strong momentum from its recent consolidation, supported by sustained demand in the jewellery and retail business. The stock is comfortably trading above its short-term averages, with RSI indicating bullish strength. A sustained move above ₹3,437 could drive the rally towards ₹3,550, keeping ₹3,380 as the stop-loss for risk management.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.