Bank of Maharashtra to Crompton Greaves – Vinay Rajani of HDFC Sec Sugges These 3 Stocks to Buy in the Near -Term

Stock Market Today: The Indian Stock Markets Began The New Week on a Downbeat Trend, Influenced by Global Worries in Spite of Solid Domestic GDP Data. The benchmark indices fell as investment was affected by the renewed tariff threats from us president donald trump.

At 12:34 IST, the nifty 50 index was trading at 24,715. 95, showing a drop of 35.70 points or 0.15%. Sensex was trading lower at 81,325.42, decreasing by 125.59 points or 0.15%.

This pressure emerged following trump’s announsement to modify tariffs on steel and aluminum, which has rekindled fears of a trade conflict and economy.

Market Analysts pointed out that Although India’s Macroeconomic Fundamentals are robust, as demonstrated by the strong gdp figures, the external challenges posd by the us tariff adjustment Overshadowed Domestic Gains. The potential for a broader impact on Global Trade and Capital Movements has LED Investors to Exercise Caution.

Vinay Rajani of HDFC Securities Recommends Bank of Maharashtra, Crompton Greaves Consumer Electricals Ltd, and City Union Bank Ltd. Check out his overall market views.

Market Views – Vinay Rajani, Senior Technical and Derivative Analyst, HDFC Securities

Nifty 50

Nifty 50 Continued Its Consolidation for the second CONSECUVE Week With a Weekly Fall of 0.41%. Bank nifty managed to outperform nifty 50 with a gain of 0.33% and closed at an all-time high. Sectorral indices like psu bank, capital market and defense outperformed the benchmark with the weekly gain of 4.08%, 3.35% and 2.73% respectively. Indices Like FMCG, Tourism, and Commodities underperformed by Falling 2.16%, 1.90% and 1.61% respectively.

The nifty microcap250 index rose 1.47% and managed to outperform nifty 50 with a good margin. Nifty 50 has ben protecting its level Above 20 days Ema and Sma, Plaged 20,630 and 20,692 Respected. A Level Above All Key Moving Averages Indicates A Bully Trend on All Time Frames for Nifty 50.

Any Level Above 25,116 would confirm the bullish breakout from the consolidation. The lower band of the consolidation is placed near 24,400 levels, below which short term would turn bearish.

Above 25,116, Nifty 50 COLD MOVE TOWARARDS ImMMIDIATE RESISTANCE Op 25,300 ODD Levels, which happy to be 78.6% retracement of the entity fall 21743.

Above 25300, We Expect Nifty 50 to Hit a New All-Time High Above 26277 and Go Beyond. Midcap and Microcap indices have been showing strength, which shows the strong breadth in the market. The bank nifty index has closed at fresh all-time highs with recent outperformance. Both psu and private bank stocks are looking strong on the chart and likely to take a lead in the coming sessions.

Nifty Capital Market Index has given a fresh breakout Above its previous all-time highs. Considering the Momentum and the Chart Setup, this index is likely to extend its gain in the coming days. Ratio Chart of Copper v/S Gold Indicates that copper should start outperforming gold from here for the medium to long term. Historically, copper used to have a positive correlation with equity markets.

Strategy

Primary trend is bullish but short-term consolidation is going on in the nifty 50. Traders should continue to hold on to the long positions with 24,462 stoploss in the nifty 50. Confirm The Fresh Bulish Breakout. Above 25,116, We Can Expect Nifty 50 to Extend the Rise Towards 25,300. Above 25,300 Nifty 50 Cold Register Fresh All-Time Highs.

Technical Picks: Stocks to buy in the Near-Term

Vinay Rajani of HDFC Securities recommends these three stocks in the Near Term – Bank of Maharashtra, Crompton Greaves Consumer Electricals Ltd, and City Union Bank Ltd.

Buy Bank of Maharashtra ( 53.98) | Target 57.20 | Stop-Loss 51.30

Bank of Maharashtra Share Price Surged 6% on 30 th may with big jump in volumes. Stock has been in to a primary uptrend as it has been sustaining about its key moving average. PSU Bank Index has broken out from the consolidation on the medium-term chart. Weekly Macd is now placed Above Signal and Equilibrium Line.

Buy City Union Bank ( 195.70): | Target 218 | Stop-Loss 187

Breakout from Symmetrical triangle pattern on the weekly chart. City Union Bank Share Price Has Been Sustaining Above 200 Dema Resistance. Stock price is now placed Above 20, 50 and 200 Days Ema. Monthly RSI has Reached Above 50, Indicating Sustainable Up Trend. Weekly Macd is now placed Above Signal and Equilibrium Line

Buy Crompton Consumer ( 353): | Target 380,391 | Stop-Loss 333

On Week Ended 16 Th May 2025, Crompton Consumer Share Price Broke Out from Downward Sloping Trend Line on the Weekly Chart. Price Rise Was Accompanied by a Jump in Volumes. Stock price has been sustaining about 50 dema resistance. Weekly RSI has reacted Above 50, indicating a sustainable up trend. Weekly Macd is now placed Above Signal Line.

Disclaimer: The views and recommendations made about individual analysts or broking companies, and not of Mint. We Advise Investors to Check With Certified Experts Before Making Any Investments Decisions.