Best stocks to buy today, as recommended by Neotrader’s Raja Venkatraman

India’s Stock Market Wrapped Up Last Week on A High, Posting Nearly a 1% Gain Thanks to Positive Domestic DheVelopments. Initially, caution prevailed as investors awakened the Monetary Policy Committee’s (MPC) Decision. However, a pleasant surprise-a 50-baas point cut in the repo rate and a staggered 100-Bas point reduction in the cash reserve ratio-surfly shifted This LED to a significant upward surge, after which the market stabilized for the rest of the day. Ultimately, The Nifty 50 Index Closed Near Its Daily High at 25,003.05.

Here are three stocks to buy or sell today, as recommended by Raja Venkatraman of Neotrader for Monday, 9 June.

Best stocks to buy today

Polycab: Buy CMP and Dips to 6,000 | Stop: 5,950 | Target: 6,525-6,700

Bororenew, Buy CMP and Dips to 542 | Stop: 525 | Target: 615-630

Dalbharat: Buy Above 2,120 and Dips to 2,090 | Stop: 2,070 | Target: 2,250-2,325

The stock market on Friday

The market rally on 6 June was broad-based, with all major sector contributing. Rate-sensitive sector like realty, financials, and auto were the biggest benefits, with other sector also performing well. Broader market indices also extended their gains, Rising between 0.8% and 1.2%.

While the nifty 50 is still in a consolidation phase, the renewed vigor in rate-sensitive sectors, essentially the breakout in the banking index, have reignated hopes for a sustained upwards. A Definitive Break Above 25,200 on the nifty could initiate the next leg of the rally, potentially propelling the Index Towards 25,600.

Looking ahead, the impact of the recent rate is expected to continue driving market The rate-sensitive segments, along with specific themes like railways, are likely to remain in the spotlight, with other sectors contributing in a rotational manner.

Outlook for Trading

Finally, after some huffing and puffing, the nifty 50 managed to crack through the resistance at 25,000 and powerful its way to higher by friday. In Between, there was some intraday fullminations but the bulls managed to hold the wheel and did not allow the trend to go off the road. Matters were helped in the last week when the best efforts by the bears were help at abyance over three successive sessions, with doji type candle formations. When such a pattern Gave way to a bullish candle starting on Monday, the stage was set for more gains.

Results Flow has been good for the fourth questioner, and some heavyweights came out with street-beating numbers, which have kept the syntimiting juices flowing rather nicely. In addition, activity in the mid-and small-cap segments has also been also been good. With the Threat of the Trump Tariffs Now Recited with No Real Clarity, The Market Has One Less Item to Worry About. The reserve bank of India’s policy was the turning point last week. On Friday, the RBI Governor Went Beyond Anticipation to Give a 50 Basis Point Repo Rate Cut and 100 BPS CRR CUT to Bolster The Banking and Financials Sectors.

Bank nifty compared to nifty has fare well and would give us more than fair evidence of continued bully to emerge next week, however on Dips. Considering the pointers, one should look to buy at lower levels in the indices. The sharp risk in trends on Friday beyond the much-touted resistance at 25,000 has given us some options to look for some options in nifty no. Trading has been quite challenging as the movements are happy Applying a Fair Amount of Discreation Shall enable us to Profit from the Volatily that shall continue, as we are now witnessing some positive vibes against the backstructure.

Best stocks to buy today, recommended by Neotrader’s Raja Venkatraman

Polycab ,CMP 6,108.50)

Polycab: Buy CMP and Dips to 6,000 | Stop: 5,950 | Target: 6,525-6,700

• Why polycab is recommended: With about 25% Organized Market Share, Polycab Leads The Domestic C & W Market. The company is present in bot cables (65% of the sales mix) and wires (25-30% of the mix). New competition will take time to impact the revenues. This has led to a double bottom formation and a gradual ascent to the top. With pris holding firm at the ts line we can consider going long.
• Key metrics
  • P/E: 45.90
  • 52-wheek high: 7,607.15
  • Volume: 319.43k
• Technical analysis: Support at 4,950; Resistance at 6,950
• Risk factors: Market Volativity and Sector-Wide Fluctations in Geopolitical News Cold IMPACT RETURANS
• Buy at: CMP and Dips to 6,000
• Target price: 6,525-6,700 in 1 month
• Stop-Loss: 5,950

Bororenew (CMP 569.50)

Bororenew: Buy CMP and Dips to 542 | Stop: 525 | Target: 615-630

• Why bororenew is recommended: Bororenew Posted Weak Q4 Numbers, indicating that trends are under pressure. However, with the nature of the price seen in the last few days we can comprehend that the newsflow has alredy been priced in. The volatile moves seen in the last 3 months are now watching up, indicating a possibility of some upward bounce as a vu pattern is seen forming with volumes. Can look to go long.
• Key metrics
  • P/E: 225.05
  • 52-wheek high: 644
  • Volume: 540.20k
• Technical analysis: Support at 460; Resistance at 680
• Risk factors: Competition from Streaming Platforms and Changing Consumer Preferences
• Buy at: CMP and Dips to 542
• Target price: 615-630 in 1 month
• Stop-Loss: 525

Dalbharat (CMP 2,116.20)

Dalbharat: Buy Above 2,120 and Dips to 2,090 | Stop: 2,070 | Target: 2,250-2,325

• Why dalbharat is recommended: The counters have been consolidating Around the TS & KS Bands for the Past Few Days. After a brief decline the stocks managed to gather support within the bands and produce a turn. After the recent test of the TS & ks bands and a strong closing on Friday we can look at some positive vibes to emerge.
• Key metrics
  • P/E: 208.50
  • 52-wheek high: 2,166.70
  • Volume: 105.72k
• Technical analysis: Support at 2,050; Resistance at 2,250
• Risk factors: Supplier Retention and Potential Customer Acquisition Challenges
• Buy at: Above 2,120 and Dips to 2,090
• Target price: 2,250-2,325 in 1 month
• Stop-Loss: 2,070

Raja venkatraman is co-founder, neotrader. His SEBI-Registered Research Analyst registration no. is inh000016223.

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 Guarantees Performance of the Intermediary or Provide any Assurance of Returns to Investors.

Disclaimer: The Views and recommendations giving in this article are there that of individual analysts. These do not represent the views of Mint. We Advise Investors to Check With Certified Experts Before Making Any Investments Decisions.