Shares to buy in short term: Mehta Equities’ Riyank suggests Paytm, Motilal Oswal, KPIT Technologies stock to buy

Stock market today: The domestic stock market began the day on a weak note on Tuesday, with both major indices falling into the red, pressured by a declining rupee and ongoing outflows from foreign portfolio investors (FPIs).

The Nifty 50 index started at 26,146.00, reflecting a drop of -29.75 points (-0.11%), while the BSE Sensex commenced the session at 85,523.17, decreasing by -118.73 points or -0.14%.

Market analysts indicated that investor sentiment soured following the currency's depreciation and continued fund withdrawals by FPIs from Indian stocks.

Although markets reached new highs during Monday's opening, they were unable to maintain those levels. The latest peak is now recorded at 26,325.80 for the Nifty 50 and 86,159.02 for the Sensex.

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

Nifty 50 Outlook

Nifty 50 witnessed renewed selling pressure at higher levels, with the index struggling to sustain above the 26,000 mark. Profit-booking attempts were clearly visible as the index failed to test the immediate resistance at 26,300. The broader sentiment remains mildly negative as long as the index trades below 26,300 on a closing basis.

Major support now lies near 26,000, and a breakdown below this level could extend weakness toward 25,850–25,800. On the upside, only a decisive close above 26,300 would signal strength and fresh upside momentum. Until then, traders should maintain a cautious approach and avoid aggressive long positions.

Bank Nifty

Bank Nifty continues to face selling pressure at higher levels, with the index unable to clear the major resistance zone near 60,000. The overall structure remains weak, with support placed around 59,000 and the next key support emerging near 58,800. Any bounce is likely to face resistance near 60,000 unless the index delivers a strong close above this level.

With the trend tilted toward the negative side, traders should stay defensive and look for selling opportunities on intraday rises. Fresh buying is advisable only on a convincing close above 60,000.

Shares to buy for short term

Riyank Arora recommends these three stocks in the short term - One 97 Communications Ltd (Paytm), Motilal Oswal Financial Services Ltd, and KPIT Technologies Ltd.

Buy – Paytm

CMP: ₹1,367 | SL: ₹1,320 | Target: ₹1,450

Paytm is showing signs of a bullish reversal after stabilizing above its recent support zones. The stock has witnessed improving volumes, suggesting accumulation at lower levels. A move above ₹1,380 could accelerate the upside toward ₹1,450. With strong support around ₹1,320, the risk-reward remains favorable for short-term traders.

Buy – Motilal Oswal

CMP: ₹946 | SL: ₹900 | Target: ₹1,000

Motilal Oswal continues to trade within a constructive price structure, holding firmly above key support levels. The stock has shown steady buying interest near the ₹920– ₹930 zone, indicating strength. A breakout above ₹955 may open room for a move toward ₹1,000. Traders can stay positive with a stop loss at ₹900.

Buy – KPIT Technologies

CMP: ₹1,254 | SL: ₹1,200 | Target: ₹1,350

KPIT Tech remains in a strong uptrend, consistently forming higher lows and maintaining a bullish chart pattern. The stock is consolidating near its support zone, offering fresh entry opportunities. A push above ₹1,270 could trigger renewed momentum toward ₹1,330– ₹1,350 levels. With solid support at ₹1,200, the stock remains a buy-on-dips candidate for short-term traders.

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.