Stocks To Buy Today, December 16: Ganesh Dongre, Sumeet Bagadia Recommend These Shares To Buy on Monday
The Indian stock market witnessed a range-bound movement last week, with Nifty oscillating between 24,000 and 25,000. The index displayed bullish signs, holding above the 200-day moving average (DMA) and forming an inverted head and shoulders pattern. Amid this backdrop, experts have shared their top stocks to buy today, December 16.
Delhi, December 16: The Indian stock market witnessed a range-bound movement last week, with Nifty oscillating between 24,000 and 25,000. The index displayed bullish signs, holding above the 200-day moving average (DMA) and forming an inverted head and shoulders pattern. Similarly, Bank Nifty stayed strong, maintaining support at 53,000, signaling resilience and overall positive sentiment in the market. Analysts suggest keeping a close eye on the 24,200 level for Nifty and 53,000 for Bank Nifty as critical support zones.
Amid this backdrop, experts like Ganesh Dongre and Sumeet Bagadia, while speaking to LiveMint, have shared their top stocks to buy today, December 16, offering investment opportunities with strong technical setups and upside potential. Stock Market Today: Sensex, Nifty Fall More Than 1% As Global Risks Weigh on Market Sentiment.
Ganesh Dongre’s Recommendations for Shares to Buy Today, December 16
Bharat Dynamics Ltd. (BDL) (NSE: BDL)
- Buy Price: INR 1,260
- Target: INR 1,350
- Stop Loss: INR 1,180
BDL (NSE: BDL) is showing a strong technical setup, with the potential to hit INR 1,350. Stock Market Today: Sensex, Nifty Stage Strong Comeback Amid Easing Inflation, Buying in Telecommunication Stocks.
Hindustan Aeronautics Ltd. (HAL) (NSE: HAL)
- Buy Price: INR 4,669
- Target: INR 5,000
- Stop Loss: INR 4,500
HAL’s (NSE: HAL) upward momentum suggests further gains, supported by robust fundamentals.
Central Depository Services Ltd. (CDSL) (NSE: CDSL)
- Buy Price: INR 1,944
- Target: INR 2,000
- Stop Loss: INR 1,900
CDSL (NSE: CDSL) is a reliable bet for short-term gains, with a clear upside target.
Sumeet Bagadia’s Recommendations for Stocks to Buy Today, December 16
Bharti Airtel (NSE: BhartiArtl)
- Buy Price: INR 1,681.75
- Target: INR 1,780
- Stop Loss: INR 1,620
Bharti Airtel (NSE: BhartiArtl) is trading at its all-time high, with a breakout above INR 1,700 signaling strength. RSI at 63.85 reflects strong momentum, making it one of the top shares to buy today.
DLF (NSE: DLF)
- Buy Price: INR 870.85
- Target: INR 930
- Stop Loss: INR 840
DLF (NSE: DLF) is rebounding from recent lows, with support from EMA levels and potential for new swing highs.
Kotak Mahindra Bank (NSE: KotakBank)
- Buy Price: INR 1,805.65
- Target: INR 1,900
- Stop Loss: INR 1,740
Kotak Mahindra Bank (NSE: KotakBank) is positioned for an upward breakout, backed by high-volume trading and a bullish candlestick pattern.
With Nifty and Bank Nifty signaling bullish trends, market sentiment is optimistic. These carefully chosen shares to buy today offer investors opportunities to capitalise on the positive momentum, supported by strong technical and fundamental indicators.
Disclaimer: The views and recommendations made above are those of individual analysts and not of LatestLY. We advise investors to check with certified experts before taking any investment decisions.
(The above story first appeared on LatestLY on Dec 16, 2024 07:58 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).