Nuvama Expert Unveils Key Stock Recommendations and Market Outlook
In a detailed analysis, Aakash K Hindocha, Deputy Vice President - WM Research at Nuvama Professional Clients Group, has shared his top stock market recommendations, highlighting Grindwell Norton, Adani Power, and KSB as prime buying opportunities. He also provided target levels and a comprehensive outlook on the Nifty and Bank Nifty indices, offering insights for investors navigating current market conditions.
Index View: Nifty and Bank Nifty Analysis
Nifty Outlook: The Nifty has experienced intraday selling pressure over the past three trading sessions, largely due to the truncated nature of this week. Markets are currently awaiting fresh headlines from the US, but Hindocha believes the interim low established this week is likely to hold firm. Any drop below this week's low of approximately 22,300 is expected to be extremely short-lived. Momentum on the upside is anticipated to accelerate once the index closes above 22,715, with potential targets reaching around 23,400.
Bank Nifty Outlook: Bank Nifty closed with a doji formation, indicating market indecisiveness, yet it remained below its previous day's high at the close. Similar to Nifty, despite strong news flow providing tailwinds, both indices failed to close above their previous day's highs. These levels are now poised to act as fresh triggers for upward movement once surpassed on a closing basis. The key level to monitor currently stands at 51,625, with targets aiming for approximately 53,900.
Detailed Stock Recommendations
Grindwell Norton (BUY):
- Last Close Price (LCP): 1405
- Stop Loss: 1350
- Target: 1535
Grindwell Norton's stock has been attracting buyers from its previous support level, which also served as a strong support in March 2025. Given the robust one-week closing highs, further momentum is expected to build, targeting 1535 and beyond, where it may intersect with its falling 200-day moving average resistance on the upside.
Adani Power (BUY):
- Last Close Price (LCP): 157
- Stop Loss: 149
- Target: 175
A bullish cup and handle breakout has emerged on daily charts, with the stock closing at a five-month high in a market environment where broader markets are holding near their 52-week lows. This signals a double confirmation on both price pattern and money flow fronts, suggesting the ongoing momentum is likely to continue upward.
KSB (BUY):
- Last Close Price (LCP): 828
- Stop Loss: 795
- Target: 900
In the last fortnight, daily charts of KSB have shown a 20-month trendline breach combined with a 200-day moving average crossover. The stock has also been forming higher lows over the past 10 weeks and has not closed below its previous week's low during this period on weekly charts. This indicates that the accumulation phase at lower levels is over, and the stock is poised to trend higher in the days ahead, with momentum expected to kick in above 835.
Disclaimer: Recommendations and views on the stock market, other asset classes, or personal finance management tips given by experts are their own. These opinions do not represent the views of The Times of India or Bharat Horizon.
