Shares to buy or sell: Riyank Arora of Mehta Equities suggests these three stocks to buy in short term

Stock market today: The domestic benchmark indices, Nifty 50 and Sensex, participated in a global relief rally on Tuesday after US President Donald Trump indicated that he might consider offering additional tariff exemptions, positioning the domestic indices to recover their losses since the implementation of the tariffs announced earlier this month.

During early trading, the Nifty 50 and Sensex exceeded their closing figures from April 2, at 23,332.35 points and 76,617.44 points, respectively, marking a return to levels seen prior to Trump’s announcement of significant retaliatory tariffs on several countries, including India.

As of 11:58 IST on Tuesday, the Nifty 50 had risen by 2.11% to reach 23,311.60, while the Sensex increased by 2.10% to 76,739.73.

Dr. VK Vijayakumar, Chief Investment Strategist at Geojit Investments Limited, mentioned that the S&P 500 has risen by 9% since its lows in April, largely due to the halt in tariffs. In contrast, the Nifty 50 has only increased by 3% from the April lows, indicating that it has some ground to cover.

This gap and some short-covering are likely to support a strong market performance for the day. However, investors must realise that the uncertainty created by Trump remains significant, and additional uncertainty may arise from the sectoral tariffs that he has announced will be implemented.

Market Views - Riyank Arora, Technical Analyst, Mehta Equities Ltd

Nifty 50

CMP: ₹23,280

Nifty 50 faces resistance at 23,350 in Tuesday's trading session and indicating some signs of profit booking coming in on higher levels. Nifty 50 has a strong resistance at 23,350 and major support near 23,000 and 22,900. As per the risk-reward ratio and wide gap, we feel that a profit booking on higher levels is due and one should remain cautious for buying at present levels, and wait for a pullback towards lower levels.

Bank Nifty

CMP: ₹52,070

Bank Nifty has touched its resistance mark of 52,000 and seeming to trade well above it. However, since the start of day - we are facing good selling pressure constantly from the 52,300 mark. If we manage to move above that 52,300 mark - we should see good strong buying and market going all the way towards 53,000 and 53,200 levels. A strict stoploss should however be kept on all longs at 51,800 for the day.

Shares to buy or sell for short term

Riyank Arora recommends these three stocks in the short term - Kotak Mahindra Bank Ltd, Tata Consumer Products Ltd, and Mazagon Dock Shipbuilders Ltd.

Kotak Mahindra Bank Ltd

CMP: ₹2,117 | SL: ₹2,080 | TARGET: ₹2,200

Kotak Bank has shown strength with a breakout above key moving averages, indicating bullish intent. The RSI (14) at 58 reflects building momentum with room for further upside. Sustained price action above ₹2,100 could attract more buying interest, aiming for a move towards ₹2,200. A stop-loss at ₹2,080 is suggested to manage downside risks.

Tata Consumer Products Ltd

CMP: ₹1,100 | SL: ₹1,050 | TARGET: ₹1,200

Tata Consumer has broken above a crucial resistance mark, signaling strong bullish momentum. The RSI (14) at 70 places the stock near overbought territory but also confirms strength. If it holds above ₹1,090– ₹1,100, a rally toward ₹1,200 remains on the cards. A stop-loss at ₹1,050 is recommended to protect capital.

Mazagon Dock Shipbuilders Ltd

CMP: ₹2,577 | SL: ₹2,473 | TARGET: ₹2,750

Mazagon Dock has re-energized with a breakout above moving averages, indicating the continuation of its uptrend. RSI (14) at 56 shows bullish momentum is picking up again. Holding above ₹2,550 could lead to an upward move toward ₹2,750. A stop-loss at ₹2,473 will help safeguard against unexpected reversals.

Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decisions.