Best stocks to buy today: Expert Raja Venkatraman's recommendations for 19 June

Indian Stock Market Dips Amidst Geopolitical Uncertainty

Indian stock markets experienced a second consecutive day of decline on Wednesday, June 18th, primarily driven by escalating tensions between Israel and Iran. This geopolitical uncertainty significantly impacted investor sentiment, creating a cautious market atmosphere.

The Sensex closed down 139 points (0.17%) at 81,444.66, while the Nifty 50 index fell 41 points (0.17%) to 24,812.05. The market's inability to break through its current range is causing considerable concern among analysts.

This challenging environment is further complicated by the upcoming US Federal Reserve policy decision, adding to the overall apprehension.

Expert Stock Picks for June 19th

Amidst this volatility, Raja Venkatraman of NeoTrader offers two potential trading opportunities:

• Godrej Industries Ltd (GODREJIND):
  • Buy: Current Market Price (CMP) and dips to ₹ 1,310
  • Stop Loss: ₹ 1,290
  • Target: ₹ 1,425-₹ 1,475
  • Rationale: Significant turnaround this quarter, positive long body candle, block deal at a premium suggest improving scenario and potential for new highs.
  • Key Metrics: P/E: 239.28; 52-week high: ₹1390; Volume: 380.98K; Support: ₹1200; Resistance: ₹1500; Risk Factors: Demand conditions in urban areas and seasonality headwinds.
• Triveni Turbine Ltd (TRITURBINE):
  • Buy: Above ₹ 825 and dips to ₹ 795
  • Stop Loss: ₹ 780
  • Target: ₹ 895-₹ 935
  • Rationale: Strong volume-backed push suggests a trend reversal after a period of consolidation. Break above resistance around ₹800 is considered positive.
  • Key Metrics: P/E: 52.53; 52-week high: ₹885; Volume: 2.37M; Support: ₹500; Resistance: ₹750; Risk Factors: Industry competition, market volatility, elongated operating tailwind.

Global Market Outlook

The Israel-Iran conflict is driving up crude oil prices, fueling inflation concerns, and pushing investors towards safe-haven assets like gold. Simultaneously, geopolitical tensions between China, Russia, and the US, coupled with China's tentative economic recovery, contribute to market volatility.

Market Indicators: The Max Pain Point has shifted to 24,800, while the suppressed Put-Call Ratio (PCR) signals continued selling pressure. Although bullish momentum from Monday is waning, certain encouraging factors offer cautious support.

Disclaimer: The recommendations provided are solely the opinions of Raja Venkatraman of NeoTrader (Sebi-registered research analyst, INH000016223). These do not reflect the views of Mint. Investors should conduct thorough research and consult with certified financial advisors before making any investment decisions. Investments in securities are subject to market risks. Please read all related documents carefully before investing. Sebi registration and NISM certification do not guarantee performance or returns.