Stocks to buy: Ankush Bajaj recommends three stocks for today—30 December

Ankush Bajaj recommends three stocks for 30 December.
Ankush Bajaj recommends three stocks for 30 December.

Summary

  • Here are three stocks to buy as recommended by research analyst Ankush Bajaj for Monday, 30 December.

Nifty and Bank Nifty: The Indian stock market closed with gains, led by the auto and financial sectors. The Nifty 50 index rose by 0.27%, adding approximately 63 points to close at 23,813.40. Similarly, the BSE Sensex rose by 0.29%, closing at 78,699.07.

The pharma and auto sectors led the market, gaining 1.30% and 0.97%, respectively.

The top gainers included Dr Reddy's (+2.52%), Mahindra And Mahindra (+2.48%), Indusind Bank (+2.30%), Eicher Motors (+1.57%), and Bajaj Finance (+1.35%).

Also Read: India’s railway and road expansion boom: 3 stocks to watch

The top losers on the Nifty were Hindalco Industries (-1.81%), Coal India (-1.58%), State Bank of India (-1.58%), ONGC (-1.39%), and Bharat Electronics (-1.07%).

The Indian stock market closed with gains, led by the auto and financial sectors, on Friday, 27 December.
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The Indian stock market closed with gains, led by the auto and financial sectors, on Friday, 27 December.

Indian stock market’s outlook: The Nifty opened on a positive note and maintained momentum during the initial trade but struggled to sustain gains at higher levels. Once again, the index failed to close above its 200-day moving average (200-DMA) at 23,862. A decisive close above this level could trigger short-covering rallies towards 24,200-24,300. On the downside, the index has immediate support in the 23,600-23,500 zone, backed by active put writing. A break below this zone could invite fresh selling pressure, potentially pushing the index towards the recent swing low of 23,300.

Also Read: Adani bonds rally, stocks fall post Hindenburg 2.0

The Bank Nifty index continues to be a weak spot. It has faced repeated rejections at the 52,000 level, and until it decisively breaks above this mark, the outlook remains bearish, with lower targets of 51,000 and 50,500.

On the downside, the Nifty 50 index has immediate support in the 23,600-23,500 zone, backed by active put writing.
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On the downside, the Nifty 50 index has immediate support in the 23,600-23,500 zone, backed by active put writing.

Three stocks to buy, recommended by Ankush Bajaj:

Sun Pharmaceutical Industries: Buy at 1,861; Target 1,900-1,925; Stop loss 1,842.

Pharma stocks are performing well in the current market, and we expect good short-covering in the next few days. Technically, Sun Pharma has given a channel breakout, signalling a bullish price move in the coming sessions.

Jubilant Foodworks: Buy at 708; Target 765-780; Stop loss 660.

After hitting a fresh lifetime high, the stock has retested its breakout zone, and it is expected to make new highs in the coming days.

HDFC Bank: Buy at 1,798; Target 1,845-1,860; Stop loss 1,765.

On Friday, the financial and banking sector showed strong performance, and we anticipate a good rally in the coming sessions. The stop loss is set at the recent low levels for risk management.

Also Read: Top 10 stocks to add to your watchlist for 2025

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

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 guarantee 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.

 

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