Stocks to buy: Nagaraj Shetti recommends NMDC, NTPC Green shares to buy
Indian stock markets surged on May 14, with Sensex up over 800 points and Nifty 50 rising above 250 points. This rally, adding ₹3 lakh crore in market cap, was influenced by positive sentiment in Asian markets and ongoing global geopolitical uncertainties.
Stock market today: The domestic benchmark indices rallied strongly on Thursday, 14 May with the benchmark indices Sensex and Nifty 50 gaining over 1% each, extending their advance for a second straight session despite lingering global and domestic headwinds.
The Sensex surged more than 800 points to an intraday high of 75,492, while the Nifty 50 climbed over 250 points to trade above the 23,650 mark as of 11:50 AM. The rally added over ₹3 lakh crore to the market capitalisation of BSE-listed companies.
The upmove tracked gains across Asian markets, driven by optimism around artificial intelligence, which pushed South Korea’s SK Hynix closer to a trillion-dollar valuation. Globally, investor focus remained on the high-stakes meeting between Donald Trump and Xi Jinping, amid ongoing geopolitical and macroeconomic uncertainties.
Quick answers to key questions
Nagaraj Shetti recommends buying NMDC shares at ₹92.25 with a target of ₹97 and a stop loss of ₹89, with a one-week timeframe. He also suggests buying NTPC Green Energy at ₹110.75, with a target of ₹116 and a stop loss of ₹107, also for a one-week timeframe.
Hindustan Copper is recommended due to its status as the only integrated copper producer in India, strong demand from EV and renewables sectors, government support for critical minerals, and expansion plans. Global copper demand is expected to outpace supply, benefiting the company.
NMDC has shown a sharp breakout after a recent downward correction, with price action indicating a faster upside retracement. Volume has started to rise during the upside breakout, and the daily RSI shows a positive indication. Technically, it has a flat base breakout.
Risk factors for NMDC include dependence on iron ore price cycles, government intervention and PSU policy risks, environmental and mining clearance issues, and high dependence on domestic steel demand. Logistics bottlenecks and margin pressure during weak commodity cycles are also concerns.
Hindustan Copper is recommended to be bought at ₹591–600, with a target price of ₹690 within two to three months and a stop loss of ₹560.
Market Views - Nagaraj Shetti, Senior Technical Research Analyst of HDFC Securities
Nifty 50
The bounce back continued in the market amidst volatility on Thursday morning and the Nifty 50 is currently trading higher by 60 points. The sharp fall of previous few sessions has halted near the crucial support zone of around 23,100-23,150 levels (previous opening upside gap of 8 April and also 61.8% Fibonacci retracement support) and that led to minor bounce back so far. This is positive indication and a sustainable move above the key hurdle of 23,700-23,800 levels could confirm important trend reversal on the upside.
Buy NMDC at ₹92.25, Target at ₹97, Stoploss at ₹89, Timeframe 1 week
After showing a reasonable downward correction in last week, this Metal stock has witnessed sharp breakout recently. The last two sessions price action indicates faster upside retracement of the previous decline. Volume has started to rise during upside breakout in the NMDC share price and daily RSI shows positive indication.
Buy NTPC Green Energy at ₹110.75, Target at ₹116, Stoploss at ₹107, Timeframe 1 week
The downward correction of the last few weeks seems to have reversed on the upside. NTPC Green Energy share price has bounced back after forming a new higher bottom at ₹106 levels recently. Volume and RSI pattern are indicating positive bias for the stock price ahead.
Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
About the Author
Dhanya Nagasundaram works as a Content Producer at LiveMint, specializing in news related to financial markets, stocks, and business. With over eight years of experience in journalism and content creation, she has honed her skills in data-driven reporting and market analysis. Her focus is on monitoring stock trends, initial public offerings (IPOs), corporate news, policy shifts, and larger economic trends that affect investors and market players. <br><br> At LiveMint, Dhanya consistently writes and produces articles that make complex financial topics accessible to readers. She keeps a close eye on equity markets, commodities, and macroeconomic indicators, assisting audiences in comprehending how global and domestic events influence investment perspectives. Her stories frequently underscore emerging trends within sectors, the IPO market, company earnings results, and market strategies pertinent to both retail and institutional investors. <br><br> Before her tenure at LiveMint, Dhanya accumulated a wealth of professional experience at various companies, including MintGenie, Informist, Cogenics, Chary Publications, KPMG, and the Royal Bank of Scotland. These positions allowed her to establish a solid foundation in financial research, reporting, and content creation. <br><br> Throughout her career, she has explored numerous subjects such as trading strategies, commodities, IPOs, wealth generation, corporate profits, and macroeconomic indicators. Her background in both financial journalism and corporate settings has given her the ability to tackle stories with analytical rigor while ensuring clarity for her audience. Through her contributions, Dhanya strives to deliver insightful, trustworthy, and investor-centric financial content.
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