Best stocks to buy today: Expert Raja Venkatraman's recommendations for 15 May
Summary
Best stocks to buy today: Discover Raja Venkatraman's top stock picks for Thursday, 15 May. Get insights into top performing stocks and informed investment decisions.
Markets remained volatile on May 14, with early gains quickly erased due to profit booking and persistent caution around geopolitical tensions. While the Nifty and Sensex ended marginally higher, sentiment was subdued as banking stocks dragged, even as IT, media, metal, and realty provided support at lower levels.
The Sensex closed 182 points higher at 81,330.56, while the Nifty added 88 points to end at 24,666.90. Mixed global cues and ongoing uncertainty continue to weigh on investor confidence. Domestic macro signals offer some relief, but it remains to be seen whether they can support the market in the coming days.
Also read: Tata Motors’ windscreen is hazy amid the fog of tariffs
Here are two stocks to buy or sell as recommended by Raja Venkatraman
GREENPANEL : Buy CMP and dips to ₹230, stop ₹223 target ₹281- 298
SOLARA : Buy CMP and dips to ₹550, stop ₹540 target ₹610- 625
Outlook for trading
With no clear trend emerging, the market now appears to be drifting into a range-bound scenario, as hesitation continues to linger. The absence of directional cues is holding back many participants, and the gradual movements, amid mixed information flows, are preventing any strong continuation.
We continue to highlight the same zones shared yesterday, as there has been little change in the options data. This suggests that levels around 24,600 remain a good area to consider for a long position, while any move below 24,500 would indicate a breakdown.
All hope is not lost, however. Q4 numbers have been better on a year-on-year basis, and if that helps ignite a trend, we may see a potential revival. With the momentum indicator also charged up, the focus could remain on a possible recovery.
Also read: Five fundamentally strong stocks down nearly 40% in the past one year
GREENPANEL : Buy CMP and dips to ₹230, stop ₹223 target ₹281- 298 (Cmp 251.30)
- Why it’s recommended: Green Panel is coming out a major consolidation and will seek to get to a higher levels in the next few days.Some steady volumes that are getting built up augurs well for the prices.
- Key metrics:
- P/E: 18.73
- 52-week high: ₹427
- Volume: 184.52 K
- Technical analysis: Support at ₹205, resistance at ₹430.
- Risk factors: Intense competition on in API space, slow debt reduction.
- Buy: CMP and dips to ₹230.
- Target price: ₹281-298 in 1 month.
- Stop loss: ₹223.
Also read: Accenture and Infosys have beaten TCS. What is N. Chandrasekaran planning?
SOLARA : Buy CMP and dips to ₹550, stop ₹540 target ₹610- 625 (Cmp 575.60)
- Why it’s recommended: Solara has been showing some keen buying interest lately and the large phase of consolidation seems to have been over and the last few days buoyed by some genuine buying is seen hinting at higher levels.
- Key metrics:
- P/E: -4.83
- 52-week high: ₹886
- Volume: 1.47 M
- Technical analysis: Support at ₹480, resistance at ₹725.
- Risk factors: Intense competition on in API space, slow debt reduction..
- Buy: CMP and dips to ₹550.
- Target price: ₹610-625 in 1 month.
- Stop loss: ₹540.
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.
