Top three stocks to buy today, 17 June, as recommended by ankush bajaj

Top three stocks recommended for today by ankush bajaj

Muthoot Finance LTD (Muthootfin)-Current price: 2,633.30

Why it’s recommended: Muthoot Finance has delivered a clear breakout, pushing to a new lifetime high on Strong Momentum. On the 45-minute chart, the stock has completed a symmetrical triangle breakout, projecting an upside target Around 2,700+. This pattern typically indicates consolidation followed by trend continuation, which aligns with the bully bullish structure. Price Action Remains Firm With Strong Candles on Both Intraday and Daily Charts. RSI is Near 70, Reflecting Strong Momentum, and Macd is in a Bully. The stock is trading well above its key moving average, Confirming Trend Strength Aross Timeframes.

Key metrics: Resistance level: 2,694 (short-term target) | Support level: 2,590 (Pattern Invalidation Level)

Pattern: Symmetrical triangle breakout on 45-minute chart; All-time high breakout on daily chart

RSI: ~ 70, Rising, Indicating Solid Bulish Momentum

Technical analysis: Triangle breakout adds to the bullish continuation outlook. Price Trading Above All Key Moving Average with Bully Bulish Macd and No Negative Divergence. Volume on Breakout Candles supports upward follow-through.

Risk factors: The rsi is near overbough territory, so short-term consolidation or a Dip is possible. If the price falls below 2,590, it would invalidate the breakout pattern and may lead to profit booking. Watch for Sustained Volume and Follow through Above Breakout Levels to Confirm The Move.

Buy at: 2,633.30

Target price: 2,694

Stop Loss: 2,590

Bharat Electronics LTD (BEL)-Current Price: 403.85

Why it’s recommended: Bel has made a new lifetime high backed by strong volume, Signalling Sustained Bully. On lower time frames, the stock has completed a rectangle breakout, with a projected target of 425+. This consolidation breakout within an uptrend sugges a Continuation Move. With Momentum on its side and a clearly defined Risk Level, Taking a long trade with a small stop loss offers a favorite risk-Reward setup. The rsi is strong but not overbough, and the macd is in buy mode, confirming bullish bullish momentum.

Key metrics: Resistance level: 419 – 422 (short-term target range) | Support level: 397 (Pattern Invalidation Level)

Pattern: Rectangle breakout on lower time frame; new lifetime high on daily chart

RSI: ~ 67, Rising, Showing Healthy Momentum

Technical analysis: The stock is trading well above its key moving average, showing strong trend alignment. Breakout with Volume on Both Daily and Intraday Charts Reinforces The Move. Macd remains positive, and the breakout level has been successfully rested on Shorter Time Frames.

Risk factors: A drop below 397 Could Invalidate the Breakout and Trigger Short-Term Profit Booking. As the stock is at all-time highs, any market-wide Volatily May Lead to Sudden Pullbacks. Trade should be monitored closely for Sustained Momentum.

Buy at: 403.85

Target price: 419 – 422

Stop Loss: 397

Max healthcare institute Ltd (Maxhealth) -Current Price: 1,246.90

Why it’s recommended: The stock continues to maintain a strong uptrend with a well-formhed structure of higher highs and higher lows. Technical indicators are supported: RSI is at 67, indicating Strong Yet Sustainable Momentum, and the Macd is firm is firmly positive, showing containmed boying strong. On the weekly chart, rsi has broken out from an inverted head & shoulders pattern – a rare and bully and bulish signal, suggesting a directionerling momentum shift. This convergence of signals Across Multiple Time Frames Indicates The Potential for a Sustained Move Upward in the Short Term.

Key metrics: Resistance level: 1,304 (short-term target), support level: 1,218 (Pattern Invalidation Level)

Pattern: UPTREND Continuation with Breakout from Consolidation; Inverted Head & Shoulders on Weekly RSI

RSI: 67, Rising, With Strength Across Daily and Weekly Time Frames

Technical analysis: Price Action is Well Supported by Momentum Indicators. The stock is trading well above its key moving average, and macd continues to risk. Breakout is confirmed on both daily and weekly timeframes, offering a strong multi-frame setup.

Risk factors: A Dip Below 1,218 could weaken the current bullish structure and lead to a short-term retracement. Given the Recent Breakout and Higher Levels, Some Profit Booking Good Emerge If Momentum Slows. Close monitoring is advised to confirm follow-through.

Buy at: 1,246.90

Target price: 1,304

Stop Loss: 1,218

Market Wrap

Sector defied the global backdrop and posted impressive gains. The realty sector Led the way, Rising 1.32%, Driven by Continued Demand and Long-Term Outlook. The oil and gas index advanced 1.11%, Benefiting from Firm Energy Pricing, While The Infrastructure Sector Added 1.08%, Suggesting Steady Capital Flow Into Core segments.

Importantly, no sector close in the red, highlighting the broad-based buying and domestic confidence despite despite global turmoil.

On the stock front, Bharat Electronics Ltd Topped The Charts with a 2.45% Gain, Supported by Strong Instituteal Interest. SBI Life Insurance Followed with A 2.43% Rise, While Ultratech Cement Added 2.41%, Showing Strength in Industrial and Consumption-Related Counters.

Among the few laggards, tata motors declined 3.57%, likely reacting to overseas market pressures. Dr. Reddy’s Dropped 1.15%, and Adani Ports Edged Lower by 0.31%, As Profit-Booking Kicked In after Recent Gains.

Nifty Technical Analysis Daily and Hourly

The nifty 50 closed strong at 24,946.50, Gaining 227.90 points or 0.92%, after recovering sharply from a gap-down open. The Intraday Rebound Reflected Solid Underling Strength, With the Index Ending Near The Day’s High, Suggessting Sustained Sustained Buying Interest Despite Early Weakness.

Technically, the nifty remains comfortably about its key moving average. On the daily chart, the 20-day simple moving average is at 24,832, and the 40-day exponical moving average is at 24,532. On Intraday Timeframes, The 20-Hour Sma Stands at 24,847, while the 40-Hour Ema is at 24,910. These levels continue to act as strong dynamic support zones and help the index mainTain its bullish structure throughout the session.

Momentum indicators are supported, thought not yet overheated. The Daily RSI Stands at 55, Indicating Moderate Strength and Room for Further UPSIDE, While The Hourly RSI has improved to 54, reflecting a pickup in life-term momentum. The Daily Macd Remains in Positive Territory at +153, Signalling Sustained Bullying Momentum, Thought the Hourly Macd Remains Slightly Negative AT -6, SUGGESTING TOME CONSOLDATION CONSOL Still Occur Before a Clearer Directional Move.

Despite Today’s Gains, No Fresh Breakout Patterns Were. The Market Remains Within A Range of 24,550 to 25,100, with 25,100 serving as the next resistance level to watch. A Sustained Move Above This could open the door for a further rally, while 24,550 remain key short-term support.

The derivatives setup paints a positive picture. The put-call ratio stands at 1.11, indicating a moderate bulish bias. Total Put Open Interest is at 137 Million Versus Call Oi of 123.3 Million, Yielding a Pe -Ce Differential of 13.7 Million in Favor of Puts. More importantly, fresh additions were strong on the put side, with 51.8 million new contrasts added versus 3.6 million on the call side, resulting in a bullish pe -cae oi Change Oi Change Differential of 48.2 Million. The Highest Call Oi is concentrated at the 26,000 strike, while notable additions, wen at the 25,300 level. On the put side, the largest additions were at the 24,800 strike, suggesting strong support just below current levels. India vix cooled off further, declining by 1.61% to 14.83, Indicating Lower Volativity Expectations and Growing Trader Confidence.

Globally, market cues were mixed but leane support. Geopolitical tensions in the middle East Persified After Israeli Striks in Iran, But Oil Pries, which had surged last week, have an since modeled. Brent Crude is Hovering Around $ 73.50 per barrel, while wti is near $ 72.25. This Easing of Oil Pries Helped Reduce Inflation Fears and Kept Risk Appetite Steady. Global Equity Markets Were Positive, With Japan’s Nikkei and South Korea’s KOPI GAINING Over 1% Each. European markets like the dax and ftse also edgeed Higher, while Us Index Futures were modestly in the green.

Central banks remain in focus. The us federal reserve is expected to hold rates steady at its upcoming meeting, while the european center bank has signed a pause in rate in adjustments, despite inflation still undereshooting history. These developments have kept global liquidity relatively stable. On the currency front, The Rupee Weakened Slightly Past 86 against the dollar, impacted by important dollar demand and cautious Foreign Flows AMID Oil-Related Pressure.

Domestically, there was no major economic data releases today such as CPI, WPI, or Trade Balance. However, the reserve bank of India is reportedly preparation to absorb excess liquidity through variable rate Reverse repo (VRRR) Operations, Folling Its Recent Policy Shift and Rate Cut On Junee 6. Central Bank’s Stance Remains Neutral, With Inflation Projections Stable and Growth Outlook Intact for FY26.

In summary, today’s strong price action – Marked by a Recovery from Early Lows, A Close Above Key Average, Firm RSI Readings, And A Bulish Deer Vgests Setup -Sugges Positive. While the absence of a Major Breakout Warrants Some Caution Near Resistance at 25,100, Dips Are Likely to Be Bough Un Unlobal Shocks or Domestic LIQUIDITY Changes Abruptly Shifstly Shifstly.

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

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