Indian equity markets opened with volatility, with indices oscillating sharply in early trading. Analysts suggest focusing on stock-specific opportunities, particularly those in oversold zones near long-term supports. HDFC Bank and Hindalco are highlighted as potential buys with specific target levels and stop losses.

2 top stock recommendations from Rajesh Bhosale

The Indian equity markets experienced a volatile start with indices oscillating sharply in the first three hours of trading. Markets opened on a decent note but soon slipped below the 23,000 mark before recovering to trade just above 23,100.

Rajesh Bhosale, from Angel One, shared his perspective on the movement: “So, key indices are trading flat but having said that, we have seen choppy moves today on both sides. If we see somewhere around 23,000, there is some cool down in the selloff. So, 23,000 seems to be the immediate support followed by 22,700. On the high side the sentiments remain weak, so 23,300-23,400 would be the immediate resistance. So, 23,000 and 23,300 seems to be the immediate range. One should focus on stock specific opportunities where the stocks are in a deep oversold zone and are hovering around its long-term supports.”

Bhosale highlighted stock-specific opportunities amid the market swings. “So, as I highlighted, we are focusing on counters that are placed around its long-term supports and indicators showing oversold zone. So HDFC Bank is the one which we are liking. It is now placed around its weekly 89 EMA and the indicators are deep in oversold zone. Today, we are seeing strength around the strong support. So HDFC Bank we are expecting strong bounce, so with a stop loss of around 814 we can buy for the targets of around 860. One more counter that we are liking is Hindalco. In the current fall Hindalco has been trading in a range. On Friday, there was a selloff but it continued to hold on to its support. Today, we are seeing strong traction. So, with a stop loss of around 900 Hindalco can be bought. We expect a move towards the levels of around 1040 in the near term.”

Analysts advise investors to monitor key support and resistance levels while capitalizing on stocks showing strong technical signals. With markets trading in a choppy range, stock-specific strategies are emerging as a safer play than broad market bets.

(You can now subscribe to our ETMarkets WhatsApp channel)

(What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)

Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today.

Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

...moreless

(You can now subscribe to our ETMarkets WhatsApp channel)

Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today.

Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

...moreless

Why gold volume is plunging in GIFT City when prices soar

SaaS faces an AI shake-up. An opportunity for Indian IT?

As countries trade gold for guns, can Indian defence stocks be quiet winners?

Looking for a job? This city has plenty, few takers

Stock Radar: JSW Energy stock gives a breakout from a symmetrical triangle pattern; what should investors do?