Stocks to buy: Rajesh Palviya of Axis Sec suggests Deepak Nitrite, Macrotech Developers, Suzlon Energy shares today

Stock market today: Indian stock markets started on a flat note on Friday, with the Nifty 50 index maintaining a positive trend.

The Nifty 50 commenced at 25,064.65, reflecting a slight increase of 2.55 points or 0.01%. Conversely, the Sensex opened lower at 82,392.63 points, dropping by 138.11 points or 0.17%.

Market analysts pointed out that Indian equities are experiencing robust inflows, and the indices are currently trading in a historical range where momentum typically begins to rise again. The overall sentiment remains largely positive despite the mixed signals from global markets.

Rajesh Palviya of Axis Securities said that the crucial support zone for Nifty 50 is 24,800-24,600 levels, and any minor correction around this remains a buying opportunity for traders. Palviya recommends Deepak Nitrite, Macrotech Developers, and Suzlon Energy shares to buy, hold, and accumulate.

Share Market Tips and Nifty 50 Outlook by Rajesh Palviya, SVP – Technical and Derivatives Research, Axis Securities

Nifty 50

The benchmark index is in a strong uptrend, forming a series of higher tops and bottoms, indicating bullish sentiments. The index is firmly placed above its 20,50,100, and 200-day SMA, which reconfirms a bullish trend on a higher time frame. On the upside, the index is expected to extend this momentum towards the 25,300-25,500 levels. The crucial support zone is located around the 24,800-24,600 levels; hence, any minor correction around this remains a buying opportunity for traders. The weekly strength indicator, RSI, is in positive territory, indicating rising strength.

Deepak Nitrite Ltd Cmp: ₹2,064

With the current close, Deepak Nitrite share price has decisively broken out of a “down-sloping” trendline breakout at 2023 levels on a closing basis, indicating a strong comeback of bulls. This breakout is accompanied by huge volumes, which signifies increased participation. The buying support was oversold from the 20 and 50 day SMA positive crossover, which reconfirms bullish sentiments. The daily and weekly strength indicators, including the Relative Strength Index (RSI), are in favourable territory, indicating rising strength. The daily Bollinger band buy signal suggests increased momentum.

Investors should consider buying, holding, and accumulating Deepak Nitrite shares. Its expected upside is 2,170-2,250, and its downside support zone is the 2,000-1,950 levels.

Macrotech Developers Ltd (LODHA) Cmp: ₹1,368

On the daily chart, Macrotech Developers shares has decisively broken out of the “flag” formation, which signals the continuation of the prior uptrend. This breakout is accompanied by huge volumes, which signify increased participation. The stock is sustaining above its 20-, 50-, 100-, and 200-day Simple Moving Averages (SMA), reconfirming the bullish trend. The daily, weekly, and monthly strength indicators, including the Relative Strength Index (RSI), are in favourable territory, indicating rising strength.

Investors should consider buying, holding, and accumulating Macrotech Developers shares. Its expected upside is 1,480-1,550, and its downside support zone is the 1,313-1,250 levels.

Suzlon Energy Ltd Cmp: ₹61

Since January 2025, Suzlon Energy shares has been consolidating strongly within the 59-45 levels, indicating accumulation at lower levels. The past couple of weeks’ rising volumes signify increased participation around the breakout zone of 59 levels. The stock is sustaining above its 20-day, 50-day, and 100-day Simple Moving Averages (SMA), reconfirming the bullish trend. The daily and weekly strength indicators, including the Relative Strength Index (RSI), are in favourable territory, indicating rising strength.

Investors should consider buying, holding, and accumulating Suzlon Energy shares. Its expected upside is 70-75, and its downside support zone is the 58-56 levels.

Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before taking any investment decisions.