ONGC to Swiggy – Vinay Rajani of HDFC Sec Sugges These 3 Stocks to Buy in the Near -Ter

Stock Market Today: India’s Stock Market Benchmarks Gained Ground Folling a Lackluster Opening on Monday, Buoyed By Increases in it and Financial Sector AFTER EFTER EFTER EXTER EXTER EXTER EXTERS SECTORESS Sessions of Decline due to a Worsening conflict between israel and Iran.

As of 12:37 IST, the nifty 50 increase by 0.85% to Reach 24,929. 20, While The Sensex Climbed 0.77% to Hit 81,752.79.

Following the widespread sell-off in the previous two sessions, the markets seele poised for a short-term rebound; However, geopolitical developments will continue to be a significant factor, according to market analysts. Over the weekend, Fresh Attacks Were Exchanged Between Israel and Iran, Raising Concerns About Browader Instability in the Oil-Rich Area. Crude oil prices rose amid worms about supply disrupties, which poses a risk for India, a nation heavily dependent on oil imports.

Vinay Rajani of HDFC Securities Recommends Oil and Natural Gas Corporation Ltd (ONGC), Swiggy Ltd, and Macrotech Developers Ltd (Lodha).

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

Nifty 50

The nifty 50 continued its consolidation for the fourth culture week, experience a weekly fall of 1.14%. The nifty 50 closed beLow its 20-day ema (24,791), with the next key support at the 50-day ema, currently positioned at 24,386. The index has maintained its level above the swing low of 24,462, indicating a continuation of the consolidation phase within the 24,500 and 25,200 range for the fourth Straight Week.

A Notable Development during the week was the nifty 50 finding resistance at the swing high made in october 2024, concluding the week with a bearish “Dark cloud cover” candlestick

Pattern on the weekly chart. This bearish pattern will be confirmed if the nifty breaks below the candle’s low in the upcoming sessions without breaking the high.

A Close Below 24462 Cold Lead to a Further Slide towards the unfilled gap of 24378-24164 (Formed on May 12, 2025), and a closing beLow 24,164 would signal a bearish trend revreesally positarian.

The bank nifty has formed a bearish “engulfing” pattern on its weekly chart. The negative implication of this pattern will be validated if the index breakes its candle’s low of 55,149. Should this Occur, The Bank Nifty Could Slide Down to its next support level level of 53,500. On the UPSIDE, the 56,000-56,200 band is expected to offer resistance.

The Midcap100 and Microcap250 indices are still holding their uptrend on positional charts, representing resilience in the broader market. However, they also need to protect their legs Aboven Last Week’s Lows to Sustain their upward Momentum.

Adding to the cautious sentiment, Brent Crude has Seen a Significant Price Jump, while the Indian Rupee has experienced healthy depreciation against the dollar. The combination of Higher Crude Pries and a Weaker Rupee Could Collectably Contribute to Weak Indian Equity Market Sentiments Going Forward.

In summary, while the broader market indices are holding up, both nifty and bank nifty are showing bearish technical patterns and consolidated within key ranges. Critical Support Levels Need to Be Defended to Prevent a Potential Bearish Trend Reversal, and external factors like Crude Oil Pries and Currency Depression COULD AD FURSSURE.

Nifty Strategy: Despite a Bully a Bulish Primary Trend, Nifty 50 is currently undergoing short-term consolidation. Traders Holding Long Positions Should MainTain a Stop-Loss at 24,462. A Breach Below This Level Cold Lead to a Further Decline Towards 24,164 Support, and a Sustainable Close Below 24,164 would positionally reverse the Bulish Trend. Convercely, A Close Above 25,000 would negate the possibility of a downtrend.

Technical Picks: Stocks to buy in the Near-Term

Vinay Rajani of HDFC Securities Recommends these three stocks in the Near Term – Oil and Natural Gas Corporation Ltd (ONGC), Swiggy Ltd, and Macrotech Developers Ltd (Lodha).

Buy ONGC (255) | Target 275 | Stop-Loss 245

ONGC SHARE PRICE HAS BROKEN OUT from Multi-White Consolidation with Rising Volumes. Stock price has taken out multi top resistance of 252 and has been sustaining Above it. Stock is Placed Above All Key Moving Average, Indicating a Bully Trend on All Time Frames. Indicators and oscillators have been showing strength on the daily and weekly time frames.

Buy Swiggy (358): | Target 421 | Stop-Loss 321

Swiggy Share price has surlpassed the crucial resistance of 20 dema with healthy volumes. Daily RSI has been sustaining Above 50, which shows the strength in the stock. Daily Macd has shown positive crossover on Signal as well as on equilibrium line. Stock has started Forming Higher Top and Higher Bottom Formation on the Daily Chart. Stock price has taken out previous swing high resistance.

Buy Macrotech Developers (1455): | Target 1,621 | Stop-Loss 1,300

Macrotech developers share price have broken out from the descending triangle pattern on the weekly chart. Stock is Placed Above Key Moving Average, Indicating Bully on all time frames. Realty sector index has been outperforming for last couple of weeks. Monthly RSI has given bullish crossover, which indicates strength in the stocks. Volumes have risen along with the recent price risk. Stock has been forming higher tops and higher bottoms on the daily.

Disclaimer: The views and recommendations about individual analysts, experts and broking companies, not of mint. We Advise Investors to Check With Certified Experts Before Making Any Investment Decision.