Essential Stock Picks for Today: Recommendations for May 30
According to Bajaj Broking Research, Aurobindo Pharma and Gokaldas Exports are the top stock picks for today, May 30, 2025. The Indian equity market has shown resilience despite facing global economic challenges. The Nifty 50 index is currently consolidating around the 24,800 level, with expectations of continued bullish momentum if key support levels hold.
Nifty Index Performance
The Nifty index has been consolidating for two consecutive weeks, trading within a range of 24,400 to 25,200. Despite various global macroeconomic and geopolitical challenges, including rising U.S. bond yields and trade tariff uncertainties, the Indian stock market maintains a positive outlook. Currently, the Nifty 50 index is positioned around 24,800, indicating a sustained upward trend. Analysts suggest that as long as the index remains above the support zone of 24,400 to 24,500, it is likely to continue its bullish trajectory towards resistance levels of 25,200 to 25,300. This outlook is supported by several factors, including expectations of a rate cut in the upcoming monetary policy and a favorable monsoon forecast from the Indian Meteorological Department. Additionally, declining Brent crude prices are expected to benefit the Indian economy, which relies heavily on crude imports.
Bank Nifty Analysis
The Bank Nifty index has also been consolidating within a broad range of 53,500 to 56,000 over the past five weeks. A significant observation from the daily chart indicates that the index has retraced only 38.2% of its previous nine-session rally, suggesting underlying strength. Analysts predict that the Bank Nifty will continue its consolidation phase, with a breakout above 56,000 signaling a potential upward movement towards 56,700. Investors are advised to view dips within this range as buying opportunities, particularly with key support identified at 54,000 to 53,500, which aligns with the lower boundary of the recent trading range and key moving averages.
Stock Recommendations
Bajaj Broking has identified Aurobindo Pharma as a strong buy within the price range of Rs 1,155 to Rs 1,175. The stock is currently rebounding from a rising trendline, indicating buying interest at lower levels. Analysts expect it to reach a target of Rs 1,278 over the next three months, representing a potential return of 10%. Similarly, Gokaldas Exports is recommended for purchase in the range of Rs 960 to Rs 980, with a target price of Rs 1,090, which translates to a 12% return over the same period. The stock is showing signs of strength, trading above key moving averages and witnessing buying demand from previous breakout levels.
Investment Considerations
Investors are reminded to conduct thorough research and consult with qualified financial advisors before making investment decisions. The recommendations provided are based on market analysis and do not reflect the views of The Times of India. As always, it is crucial to consider individual financial situations and risk tolerance when engaging in stock market investments.
Disclaimer: The opinions, analyses, and recommendations expressed on this website are those of the contributors or sources cited and do not necessarily reflect the views of Observervoice. Always consult with a qualified investment advisor or financial planner before making any investment decisions.
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