Rajesh Palviya of Axis Sec suggests Paytm, Anand Rathi, Nykaa shares to buy today

Rajesh Palviya of Axis Sec suggests Paytm, Anand Rathi, Nykaa shares to buy todayAI Quick ReadIndian benchmark indices opened higher on Friday, supported by strong gains in information technology stocks after Tata Consultancy Services (TCS) reported better-than-expected June-quarter revenue. Softer crude oil prices and easing concerns over a broader escalation in the US-Iran conflict also lifted investor sentiment.

At around 9:15 IST, the Nifty 50 advanced 0.68% to 24,124.70, while the BSE Sensex climbed 0.85% to 77,395.63.

The Nifty IT index emerged as the top sectoral gainer, rising 2.1%, led by a 3% rally in TCS after the country's largest IT services company surpassed quarterly revenue estimates, aided by stronger demand from banking clients and the benefit of a weaker rupee.

Market breadth remained positive, with all 16 major sectoral indices trading in the green. The broader markets also participated in the rally, with both the Nifty Midcap and Nifty Smallcap indices gaining around 0.7% each.

Meanwhile, Brent crude edged up to around $76.5 per barrel after falling 2.2% in the previous session. Investors also drew comfort from signs that diplomatic engagement between the US and Iran was continuing, after a US official said Washington remained committed to resolving tensions through ongoing technical-level talks despite the recent exchange of military strikes.

The Nifty 50 continues to exhibit a constructive undertone despite intermittent profit booking, indicating that the broader uptrend remains intact. Market breadth suggests stock-specific opportunities are likely to continue. From a near-term perspective, 24,250-24,200 is expected to act as an immediate resistance zone, while 23,900-23,800 are likely to act as immediate support. As long as the index sustains above these levels, the "buy on dips" strategy remains favourable. Traders should closely watch price action around these key levels, as a breakout from the ongoing consolidation could determine the next directional move for the benchmark index.

With the price movement over the past couple of sessions, the stock has decisively surpassed the "multiple resistance" zone of 1228 on a closing basis, accompanied by rising volumes indicating a strong comeback of bulls. The daily and weekly "Bollinger Band" buy signal indicates increased momentum. The daily, weekly and monthly Relative Strength Index (RSI) is in favourable territory, indicating rising strength across all time frames. The stock is well placed above its 20, 50, 100 and 200-day simple moving averages (SMAs). These averages are also inching up along with the price rise, which reconfirms the bullish trend.

Investors should consider buying, holding, and accumulating this stock. Its expected upside is 1320-1350, and its downside support zone is the 1230-1200 levels.

The stock is in a strong uptrend across all the time frames, forming a series of higher tops and bottoms. The stock is well placed above its 20, 50, 100 and 200-day simple moving averages (SMAs). These averages are also inching up along with the price rise, which reconfirms the bullish trend. The daily, weekly and monthly Relative Strength Index (RSI) is in favourable territory, indicating rising strength across all time frames.

Investors should consider buying, holding, and accumulating this stock. Its expected upside is 2150-2200, and its downside support zone is the 2060-2010 levels.

The stock is in a strong uptrend across all the time frames, forming a series of higher tops and bottoms. The weekly and monthly "Bollinger Band" buy signal indicates increased momentum. The stock is well placed above its 20, 50, 100 and 200-day simple moving averages (SMAs). These averages are also inching up along with the price rise, which reconfirms the bullish trend. The daily, weekly and monthly Relative Strength Index (RSI) is in favourable territory, indicating rising strength across all time frames.

Investors should consider buying, holding, and accumulating this stock. Its expected upside is 340-365 and its downside support zone is the 318-310 levels.

Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.

Dhanya Nagasundaram works as a Content Producer at LiveMint, specializing in news related to financial markets, stocks, and business. With over eight years of experience in journalism and content creation, she has honed her skills in data-driven reporting and market analysis. Her focus is on monitoring stock trends, initial public offerings (IPOs), corporate news, policy shifts, and larger economic trends that affect investors and market players. <br><br> At LiveMint, Dhanya consistently writes and produces articles that make complex financial topics accessible to readers. She keeps a close eye on equity markets, commodities, and macroeconomic indicators, assisting audiences in comprehending how global and domestic events influence investment perspectives. Her stories frequently underscore emerging trends within sectors, the IPO market, company earnings results, and market strategies pertinent to both retail and institutional investors. <br><br> Before her tenure at LiveMint, Dhanya accumulated a wealth of professional experience at various companies, including MintGenie, Informist, Cogenics, Chary Publications, KPMG, and the Royal Bank of Scotland. These positions allowed her to establish a solid foundation in financial research, reporting, and content creation. <br><br> Throughout her career, she has explored numerous subjects such as trading strategies, commodities, IPOs, wealth generation, corporate profits, and macroeconomic indicators. Her background in both financial journalism and corporate settings has given her the ability to tackle stories with analytical rigor while ensuring clarity for her audience. Through her contributions, Dhanya strives to deliver insightful, trustworthy, and investor-centric financial content.

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