Recommended stocks to buy today, 16 June, by India's leading market experts

The Sensex opened at 80,427.81 against its previous close of 81,691.98 and dropped over 1,300 points, or 1.6 per cent, to hit an intraday low of 80,354.59, while the Nifty started the day at 24,473 against its previous close of 24,888.20 and crashed 1.7 per cent to an intraday low of 24,473.

On to the top stock picks for today, as recommended by some of India’s leading market experts.

Top three stocks recommended for today by Ankush Bajaj

 Buy: DB Realty Ltd (Current Price: ₹239.93)

• Why DB Realty is recommended: The stock broke out of a multi-week consolidation and made a new 52-week high with strong volume. The ascending triangle breakout on the daily chart signals further upside potential. RSI is in the mid-70s, indicating strong momentum. MACD remains in the bullish zone, and the stock is trading above key moving averages. The breakout level around ₹235– ₹238 has now turned into support.
• Key metrics: Resistance level: ₹245 (short-term target); Support level: ₹237 (pattern invalidation level); Pattern: Ascending triangle breakout; RSI: ~74, indicating strong upward momentum
• Technical analysis: Breakout confirmed with volume and positive MACD. Price structure supports further upside as it holds above prior resistance.
• Risk factors: With RSI over 70, the stock may be slightly overbought, suggesting a minor pullback is possible. If price falls below ₹235– ₹237, the breakout may fail.
• Buy at: ₹239.93
• Target price: ₹245
• Stop loss: ₹237

Also Read: Escalating Israel-Iran conflict to keep markets on boil in near term

Buy: Manappuram Finance Ltd (Current Price: ₹279.54)

• Why Manappuram Finance is recommended: The stock continues its strong uptrend and has broken out to a new all-time high. The breakout from the recent consolidation range confirms a continuation of the bullish momentum. RSI is extremely strong at 86, and MACD is firmly positive. The price is trending well above all key moving averages, indicating robust support from the broader trend.
• Key metrics: Resistance level: ₹285 (short-term target), Support level: ₹277 (pattern invalidation level); Pattern: Horizontal resistance breakout / new all-time high RSI: ~86, indicating very strong bullish momentum
• Technical analysis: Strong breakout with price trading far above moving averages. MACD confirms trend strength. Trend-channel formation with bullish price structure on lower time frames.
• Risk factors: RSI is in overbought territory, suggesting the stock may consolidate or retrace in the short term. A close below ₹277 could indicate a failed breakout or temporary top.
• Buy at: ₹279.54
• Target price: ₹285
• Stop loss: ₹277

Also read: The capital goods sector gets a power-up, its weight rises in Nifty

Buy: Jubilant Ingrevia Ltd (Current Price: ₹793.55)

• Why Jubilant Ingrevia is recommended: The stock gave a strong bullish breakout on 13 June after forming a flag pattern on the daily chart. It surged over 16% on high volume, confirming strong demand. RSI is nearing overbought levels but still rising, and the MACD is positive, indicating continuing strength. Price is trading well above all key moving averages. The breakout was retested on lower time frames and held firm, suggesting momentum is likely to continue.
• Key metrics: Resistance level: ₹810 (short-term target), Support level: ₹786 (pattern invalidation level), Pattern: Bullish flag breakout on daily chart, RSI: ~69, rising, showing strengthening momentum.
• Technical analysis: Breakout supported by volume, MACD crossover, and strong price action. Trading above all major moving averages. Lower time frames confirm the breakout with continued higher lows.
• Risk factors: The stock has seen a sharp move and may be overbought in the short term, increasing the chance of minor pullbacks. A drop below ₹786 would invalidate the breakout setup and could lead to short-term weakness.
• Buy at: ₹793.55
• Target price: ₹810
• Stop loss: ₹786

Two stock recommendations by MarketSmith India:

 Buy: FDC Ltd. (current price:  ₹475.85)

• Why FDC is recommended: Strong domestic brand presence, and focused R&D with controlled manufacturing
• Key metrics: P/E:  28.12, 52-week high: ₹ 658.85, volume: ₹15.80 crore
• Technical analysis: Gave trendline breakout
• Risk factors: Competition and market forces, regulatory environment and pricing pressures, ESG and operational risks
• Buy at: ₹ 475.85
• Target price: ₹ 550 in three months
• Stop loss: ₹ 450

Buy: Krishna Institute of Medical Sciences Ltd (current price: ₹680)

• Why Krishna Institute Of Medical Sciences is recommended: Strong regional presence and brand, capacity expansion through acquisitions and greenfield projects
• Key metrics: P/E: 65.08, 52-week high: ₹ 708, volume: ₹ 54.00 crore
• Technical analysis: Possible trendline breakout
• Risk factors: Rising operational costs and margin pressure, geographical concentration
• Buy at: ₹ 680
• Target price: ₹ 800 in three months
• Stop loss: ₹ 629

Here are three stocks to trade as recommended by Raja Venkatraman 

 Buy MAXHEALTH (Current price ₹1232.80)

• Why MAXHEALTH is recommended: Steady rise seen in this counter to the upside, as shown on the charts, coupled with steady buying interest at every decline, has pushed the prices ahead. Ahead of the results, the prices have pushed beyond the median line, which spells well for the counter. The pharma sector is continuing to witness steady buying interest that is driving the trends upward. The RSI is continuing to push for more upside and can be considered as a continuation of positive signs of resumption.
• Key metrics: P/E: 43.53; 52-week high: ₹98.20; Volume: 1.60 M
• Technical analysis: Support at ₹1125, resistance at ₹1400.
• Risk factors:Regulatory changes, intellectual property issues, competition from generic drugs, supply chain disruptions, and cybersecurity threats.
• Buy: CMP and dips to ₹1210.
• Target price: ₹1300-1325 in 1 month.
• Stop loss: ₹1195.

Buy BIOCON (Current price ₹355.40)

• Why Biocon is recommended: This counter has managed to hold on to key support zones around ₹350 and the prices quickly revived above the near-term support zone to head strongly higher in the latter half of the week. We can observe that there are sizeable volumes building up suggesting that the prices could now travel to the next resistance zone around 380. The demand at lower levels and a nice long body bullish candle does suggest more upside in the coming sessions.
• Key metrics: P/E: 70.04; 52-week high: ₹404.60; Volume: 8.01M
• Technical analysis: Support at ₹310, resistance at ₹425.
• Risk factors: Regulatory changes, intellectual property issues, competition from generic drugs, supply chain disruptions, and cybersecurity threats.
• Buy: CMP and dips to ₹341.
• Target price: ₹385-398 in 1 month.
• Stop loss: ₹332.
• Buy STAR (Current price ₹882.45)
• Why STAR is recommended: STAR is showing some steady progress and the periodic higher high higher low formation is indicating that the trends are firmly hinting at some potential upside in the coming days. The strong long body candle seen on Friday with a positive crossover as per Ichimoku TS & KS lines are hinting at possible upward drift.
• Key metrics: P/E: 40.34; 52-week high: ₹647.65; Volume: 737.47 K
• Technical analysis: Support at ₹700, resistance at ₹1250.
• Risk factors: Regulatory changes, intellectual property issues, competition from generic drugs, supply chain disruptions, and cybersecurity threats
• Buy: CMP and dips to ₹833.
• Target price: ₹970-1035 in 1 month.
• Stop loss: ₹820.

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

Ankush Bajaj is a Sebi-registered research analyst. His registration number is INH000010441.

MarketSmith India is a stock research platform and advisory service focused on the Indian stock market. Trade name: William O’Neil India Pvt. Ltd; Sebi Registration No.: INH000015543

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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.