Best stock recommendations today: MarketSmith India's top picks for 9 July

On Tuesday, the Nifty 50 traded within a narrow 130-point range and ended 61 points higher. Market sentiment remained cautious ahead of the upcoming US tariff decision, keeping investors on edge. The realty and BFSI stocks provided support, while weakness in the consumer durables, pharmaceuticals, and healthcare sectors limited overall gains. Two stock recommendations by MarketSmith India for 9 July: Lemon Tree Hotels Ltd (current price: ₹ 146.79) Why it’s recommended: Strong position in mid-market segment, institutional backing, more hotels coming up in tier-2 and tier-3 cities. Key metrics: P/E: 45.06 | 52-week high: ₹ 162.40 | Volume: ₹ 219.99 crore Technical analysis: Trending above all its key moving averages, bullish pattern breakout. Risk factors: Economic and demand volatility, intense competition and concentration. Buy at: ₹146.79 Target price: ₹165 in two to three months Stop loss: ₹138 Ge Power India Ltd (current price: ₹325) Why it’s recommended: The government push for clean energy transition, growing demand for flue gas desulfurization (FGD), focus on grid modernization, and electrification. Key metrics: P/E: N/A | 52-week high: ₹646 | Volume: ₹33.69 crore. Technical analysis: Downward sloping trendline breakout. Risk factors: High dependence on thermal projects, limited presence in the renewable segment. Buy at: ₹325 Target price: ₹385 in two to three months Stop loss: ₹305 How Nifty 50 performed on 8 July Benchmark equity indices recovered from early losses to close higher on Tuesday, supported by optimism around the US trade deal, positive cues from Asian markets, and fresh foreign fund inflows. After trading in a narrow range for most of the session, the Nifty gained momentum in the final hour, ending 61.20 points or 0.24% higher at 25,522.50. The late rebound was driven by easing crude oil prices, FII buying, and improved global sentiment. Sectorally, BFSI, realty, and IT led the gains, while consumer durables, pharmaceuticals, and healthcare stocks underperformed. Technically, the Nifty 50 continues to maintain a structurally bullish set-up, trading firmly above its key moving averages. While recent price action suggests a phase of short-term consolidation. The relative strength index (RSI) on the daily chart is hovering near the 62-63 mark, reflecting a neutral-to-positive bias without entering overbought territory. Simultaneously, the MACD remains in positive territory, with a bullish crossover intact and trending flat above the central line. According to O'Neil’s methodology of market direction methodology, the Nifty reclaimed its recent high of 25,116. Hence, the market status has been upgraded to a Confirmed Uptrend as of 11 June 2025. The Nifty 50 continued to trade in a narrow range on Tuesday, reflecting investor caution ahead of key global macroeconomic events. Despite the intraday fluctuations, the broader market structure remains constructively bullish. The key support levels are situated around 25,200, followed by 25,000, which are likely to cushion any downside pressure. On the upside, resistance is observed near 25,600-25,700, and a decisive move beyond this range could pave the way for a renewed upward trajectory. How Nifty Bank performed yesterday The index opened on a muted note but gradually showed resilience, attracting buying interest after hitting its intraday low of 56,923. On the daily chart, it formed a bullish candle with a higher-high and higher-low structure, indicating positive momentum. The index opened at 56,942.55, moved within a range of 56,923.05-57,303.30, and settled at 57,256.30. Today's top gainers were KOTAKBANK, SBIN, and AUBANK, followed by HDFCBANK, and ICICIBANK. Their strong performance contributed significantly to the upward movement of the index. The index has gained around 0.54% intraday. Technically, the Nifty Bank continues to trade above all its key moving averages across multiple timeframes, reinforcing the strength of its broader bullish trend. The relative strength index (RSI) on the daily chart is gradually trending upward and currently hovers around 61, indicating improving momentum. However, the MACD has turned negative with a bearish crossover, which may warrant caution in the near term. As per O’Neil’s methodology of market direction, the Nifty Bank remains in a “Confirmed Uptrend", a trend it has sustained over the past few weeks. Also Read | Four fundamentally strong Adani group stocks to watch now The Nifty Bank exhibited positive price action, and if the bullish momentum sustains, the index could potentially advance toward 57,500-58,000, followed by 58,500-59,000 in the upcoming sessions. However, if the index fails to sustain above the immediate resistance at 57,600, increased volatility may be observed, potentially restricting movement within 57,000-56,000. MarketSmith India is a stock research platform and advisory service focused on the Indian stock market. It offers tools and resources to help investors make informed decisions based on the CAN SLIM methodology, developed by legendary investor William J. O'Neil. You can access a 10-day free trial by registering on its website. Trade name: William O’Neil India Pvt. Ltd. Sebi Registration No.: INH000015543 Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before making any investment decisions.