Top 3 stocks to buy today, recommended by ankush bajaj

The nifty 50 ended130.70 points higher, up 0.53 %, to close at24,750.90. The BSE Sensex also added443.79 points or0.55%, Finishing at81,442.04. Bank nifty outperformed slightly, gaining84.00 points or 0.15%, settling at 55,760.85.

Top 3 stocks to buy today, recommended by ankush bajaj

Buy: Glenmark Pharmaceuticals Ltd (Current Price: 1,584.80)

Why glenmark is recommended: The stock has recently given a triangle breakout on the daily chart, indicating a bullish controluation pattern. The RSI is Trading Above 70, Showing Strong Momentum and Buying Strength. This Breakout Suggessts Potential Continuation Towards Higher Targets, with the Final Target Seen At 1,690.

Key metrics

Resistance level: 1,660-1,690 (short-term target range)

Support level: 1,528 (Pattern Invalidation Level)

Pattern: Triangle breakout on the daily chart

RSI: Trading Above 70 on the Daily Chart, Signaling Strong Momentum in the Ongoing Move

Technical analysis: Glenmark is trading with a positive bias and has confirmed a bully pattern. The current price action near 1,584.80, supported by Strong RSI and Triangle Breakout, Sugges the Stock Cold Test the 1,660-1,690 zone in the coming sessions if it sustains Above the breakout level.

Risk factors: A breakdown beLow 1,528 could invalidate the bulish setup and attract profit booking. Any sharp correction in the broader market or pharma sector may impact the expected move.

Buy at: 1,584.80

Target price: 1,660-1,690 in 4-5 days

Stop-Loss: 1,528

Buy: NBCC (India) Ltd (Current Price: 127.05)

Why nbcc is recommended: The stock has recently shown Strong Price Action and is Sustaining Above Key Moving Averages, Indicating Continued Bulling Bulling Momentum. On the Charts, NBCC is Forming a Bully Continuation Pattern with Increasing Volume Support. If the stock maintains Above the breakout zone, it is well-positioned to move towards higher levels.

Key metrics

Resistance level: 136-138 (short-term target range)

Support level: 121.50 (Pattern Invalidation Level)

Pattern: Bully

RSI: Trading with a positive bias, indicating strength in the ongoing up

Technical analysis: NBCC is showing strength on the charts with a steady upward move supported by volume. The price action near 127.05, Combined with Bulish Momentum and Favorable Technical Structure, Sugges the Stock Cold Test the 136-138 zone in the near term if it sustains Above Current Levels.

Risk factors: A breakdown beLow 121.50 could invalidate the bulish setup and lead to short-term profit booking. Broader Market Weakness May also also impact the expected move.

Buy at: 127.05

Target price: 136-138 in 4-5 days

Stop-Loss: 121.50

Buy: SBI Cards and Payment Services Ltd (Current Price: 944.35)

Why sbi cards is recommended: On the daily chart, the stock has fied a bully, which is a containuation pattern indicating the posesibility of a strong upward move. The rsi is currently at 63, reflecting bulish bulish momentum and sugging further strength in price action. This setup points to a potential move towards higher targets in the short term.

Key metrics

Resistance level: 1,030-1,045 (short-term target range)

Support level: 902 (Pattern Invalidation Level)

Pattern: Bulish pennant breakout on the daily chart

RSI: At 63 on the daily chart, indicating rising bulish momentum

Technical analysis: SBI cards is trading with a positive structure and has confirmed a bullish pennant breakout. The current price near 944.35, supported by strengthening rsi and breakout confirmation, sugges the stock hold move towards the 1,030–1,045 zone if it holds Above The Breakout Level.

Risk factors: A breakdown beLow 902 could invalidate the bulish setup and lead to profit booking. Any Sector-Specific Weakness or Broader Market Correction May also also impact the expected Move.

Buy at: 944.35

Target price: 1,030-1,045 in 4-5 days

Stop-Loss: 902

Market Wrap – 5 June 2025 (Thursday)

Among sectors, realty was the top performance, rising1.75%, reflecting buying interest in energy names. The Pharma Index Followed Closely, Up1.28%, While The Healthcare Index Gained1.07%. On the downside, the psu bank sector and auto was the only significant laggard, slipping by0.58% and0.11%.

On the stock-specific front, eternal ltd lad the gainers with a4.43%Rise, followed by drde’s laboratories ltd, which Gained3.09%, and Trent Ltd, Up3.02%. Meanwhile, Indusind Bank Ltd Fell1.37%, Tata Consumer Ltd Lost1.11%, and Axis Bank Ltd Declined1.02%, Making it the Top Losters of the Session.

Nifty Technical Analysis – Daily and Hourly

The nifty ended the session on a firm note, closing at 24,750.90 with a gain of 130.70 points or 0.53%. The index registered an intraday high of 24,899.85 and a low of 24,613.10, reflecting a strong recover from Lower Levels. Despite this Upward Move, Nifty Remains Within Its Broader Consolidation Range of 24,500 to 25,100 for the 13th Consecurable Session.

However, today’s price action was encouraging as the index managed to close Near the day’s high, and also Above key key short-term moving averages, hinting at a Possible Push Toward The Upper Boundary of the Range.

On the technical front, nifty have closed precisely at its 20-day moving average, Placed at 24,750, Signaling a neutral to mildly positive setup. It also continues to trade well Above the 40-day exponical moving average, which stands at 24,345, reinforcing the Medium-Term Bulish Undertone.

On the hourly chart, the index has been closed Above bot the 20-his Hour Moving Average at 24,646 and the 40-Hour Exponantial Moving Average at 24,699.40, which indicates strengthening short-term momentum. The breakout Above The Falling Wedge Pattern on the Hourly Chart Further Supports The Potential for an upward Continuation with a Projected Target Near 25,200.

Momentum indicators reflect a similar tone. The Hourly RSI is at 56, Showing Healthy Strength, While The Hourly Macd is in Positive Territory, Indicating A Continuation of Short-Term Bullystum. On the daily chart, the rSI stands at 55, and while the macd remains marginally on the short side, it is beGinning to flatten – a sign of Waning Bearish Momentum. If nifty sustains Above 24,750 in the next session, further UPSIDE TOWD 24,900 and 25,000 Remains Likely.

From a derivatives percective, the monthly options data indicates Maximum Call Open Interest At The 25,000 Strike and Maximum Put Open Interest at the 24,500 Strike, Defining the broad extra range. The put-call ratio remains low, suggesting cautious optimism. However, today’s action showed unwinding in call positions and fresh additions in puts, especially at the 24,600–24,700 striks, Pointing Toward Defensestive Put Writing. This behavior supports the idea that market participants are positioning for a potential expiry move toward the higher end of the range.

Volativity cooled off further, with India Vix Falling 4.21% to Close at 15.08. This decline in implied Volativity sugges that traders are anticipating a more stable expiry and reduces the problem of a sharp directional surprise unlessed by external events.

In conclusion, nifty remains range-bound between 24,500 and 25,100 but is showing signs of strength with a close at the 20-dma and Above Key Hourly Average. Immediate resistance is Seen at 24,900–25,000, and a Breakout Beyond 25,100 count trigger a move toward 25,200–25,300. On the downside, 24,600–24,500 Remains Strong Support.

Until a decisive movie Occurs, Range-Bound Strategies Like Short Straddles or Strangles Around the 24,700-24,900 band may continue to perform, with tight riskment. Intraday Moves Beyond 24,900 or Below 24,500 should be Watched for Directional Expiry Setups.

Ankush bajaj is a sebi-regified research analyst. His registration number is inh000010441.

Investments in Securities are Subject to Market Risks. Read all the related documents carefully Before Investing.

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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.