Best stocks to trade today: Expert Raja Venkatraman's recommendations for 11 June

Here are three stocks to trade, as recommended by Raja Venkatraman of NeoTrader for Wednesday, 11 June:

TTK Healthcare Ltd: Buy CMP and dips to ₹1,250 | Stop ₹1,225 | Target ₹1,450-1,525

BF Utilities Ltd: Buy above 825 and dips to 795 | Stop 780 | Target 895-935

Thirumalai Chemicals Ltd: Buy above 286 on dips to ₹270 | Stop ₹260 | Target ₹320-335

Market recap

After an impressive four-day rally, banking stocks finally took a breather on 10 June, causing the Nifty Bank to lose momentum. However, the broader market remained steady as the India VIX continued to slide, signaling a lack of fear among investors. The trading session saw benchmark indices moving within a narrow band, reflecting the overall cautious sentiment.

While financial stocks eased, the IT sector saw a strong wave of buying interest. Leading technology giants, including TCS, Infosys, HCL Technologies, and Wipro, propelled the Nifty IT higher, extending its upward trajectory. Investors appeared confident in the prospects of large-cap tech firms, fueling gains across the sector.

Also Read: This pharma stock surged, crashed, and came back up again. Can it sustain the momentum?

Meanwhile, the real estate sector struggled, with the Nifty Realty experiencing profit booking for the second straight session. As investors locked in recent gains, the sector witnessed some selling pressure, contrasting with the bullish momentum in IT stocks.

Despite the fluctuations, the overall market sentiment remained composed, with volatility indicators pointing to stability. Traders largely maintained a wait-and-watch approach, weighing sector-specific movements while monitoring macroeconomic signals. With banking stocks on pause and IT counters gaining ground, market dynamics continue to shift, reflecting evolving investor preferences and broader economic trends.

Outlook for trading

Volatility continues to disturb the market sentiment, despite the clarity achieved in terms of the resistance, the trends remain challenged on either side.While the Nifty is trying to sustain the higher levels, the constant selling pressure is keeping a lid on every rise. At the moment, the highs at 25,500 will remain an important point to consider. With the market holding the support zones to retain the bullish stance, we need to be careful as we move ahead into the week.

Yesterday we had highlighted the possibility of a reaction and identified the levels around 24,900-25,000 would be a good area to consider for a long position and any move below 24,900 would be a surrender. However, as trends remain buoyant, we should be looking at a potential revival. The dip into the support region mentioned on the charts found some good buying interest coming into it and could now generate some revival as the RSI is now seen holding at the 60 levels and hinting at some upward trajectory.

We are now observing that the Max Pain Point has shifted to 25,000 as the PCR remains supressed below 1, indicating that the selling pressure has stepped up once again. As trends are spending some time to hold on to the bullish bias seen on Monday, we continue towitness some encouraging triggers thus leading the trends through some challenging times. Time for being alert as trends are getting clearer.

Top three stocks to buy on Wed 11 june, recommended by NeoTrader’s Raja Venkatraman:

TTKHLTCARE (Cmp 1307.90)

Why it’s recommended: TTKHLTCARE has recently reported encouraging quarter numbers that can now help it stem the decline. The last two quarters with some encouraging numbers, we can expect the trends to showcase some robustness.A positive long body candle clearly highlights the intent and the improving scenario will now push the trends towards new highs. A fresh uptick in momentum is encouraging.

Key metrics: P/E: 22.22 | 52-week high: ₹1,923 | Volume: 36.32K

Technical analysis: Support at ₹1152, resistance at ₹1400

Risk factors: Financial performance and the impact of the pharma division sale

Buy: CMP and dips to ₹1,250.

Target price: ₹1,450-1,525 in 1 month.

Stop loss: ₹1,225

Also Read: As India looks to attract global EV makers, these five companies could win big

BFUTILITIES (Cmp 824.95)

Why it’s recommended: BFUtilities have been going through a rough patch and the strong push backed by volumes are suggesting a trended action. The last few days, the prices have been consolidating and the strong push above value area resistance around 800 augurs well for the prices. As momentum is also providing a favourable tailwind, we can consider some bullish prospects.

Key metrics: P/E: 194.41 | 52-week high: ₹1,129.10 | Volume: 1.11M

Technical analysis: Support at ₹623, resistance at ₹943

Risk factors: Industry competition , market volatility, elongated operating tailwind

Buy: Above ₹825 and dips to ₹795

Target price: ₹895-935 in 1 month

Stop loss: ₹780

Also Read: Behind ICICI Lombard's recent surge: What the headlines won’t tell you

TIRUMALCHM (Cmp 285.20)

Why it’s recommended: Thirumalai Chemicals Ltd is a leading manufacturer of specialty chemicals in India, specializing in the production of food-grade phosphates and other chemical products. Momentum indicator clearly says that the trends are establishing themselves now with the prices moving above the cloud. Volumes are also building up and this can be a good trigger in the coming days.

Key metrics: P/E: 52.85 | 52-week high: ₹394.95 | Volume: 948.13K

Technical analysis: Support at ₹230, resistance at ₹325

Risk factors: Potential breaches of safety norms and contract terms, non-compliance with safety norms and contract terms.

Buy: above ₹286 and dips to ₹270

Target price: ₹320-335 in 1 month.

Stop loss: ₹260.

Raja Venkatraman is co-founder, NeoTrader. His Sebi-registered research analyst registration no. is INH000016223.

Investments in securities are subject to market risks. Read all the related documents carefully before investing. Registration granted by Sebi and certification from NISM in no way guarantees performance of the intermediary or provide any assurance of returns to investors.

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.