Shares to buy or sell: Sachin Gupta of 5paisa recommends Aurobindo Pharma, BDL shares today - 6 May 2025

Stock market today: The domestic benchmark indices, Nifty 50 and Sensex, began the day on a cautious note on Tuesday, with both indices trading flat as investors awaited important global indicators, especially the start of the US Federal Reserve's two-day policy meeting later today.

Geopolitical tensions between India and Pakistan also impacted investor confidence, even as foreign portfolio investors (FPIs) continued to invest in Indian stocks.

The Nifty 50 index started at 24,500.75, increasing by 39.60 points or 0.16%. The Sensex also saw a slight rise, opening at 80,907.24, up by 110.40 points or 0.14%.

Sachin Gupta, Senior Research Analyst at 5paisa believes Nifty 50's near-term support levels to be at 24,014 and 23,738, while resistance levels at 24,908 and 25,185.

On the stocks to buy front, Sachin Gupta recommends Aurobindo Pharma Ltd, and Bharat Dynamics Ltd. Here's what Gupta says about the stock market.

Market Review and Outlook - Sachin Gupta, Senior Research Analyst at 5paisa

Nifty 50 rose by 0.5% today, driven primarily by gains in Adani group stocks, TRENT, and NBFCs such as Shriram Finance, Bajaj Finserv, and M&M. Strong earnings from Adani stocks and M&M fueled the rally. The market breadth was positive, with 38 out of the 50 Nifty stocks closing in the green. However, Kotak Mahindra Bank was the top loser, acting as a significant drag on the index. The stock experienced a sharp decline following disappointing earnings and several broker downgrades.

Nifty 50 opened on a strong note and maintained its positive momentum throughout the day. Optimistic sentiment prevailed, with all sectoral indices closing in the green, except for the banking sector. Midcap stocks saw a strong rally, with the index up by 1.8%. Despite the overall strength, Nifty 50 was unable to hold above the 24,500 level and faced selling pressure. This suggests resistance at higher levels as it attempts to break out of its current range. Near-term support levels are at 24,014 and 23,738, while resistance levels are at 24,908 and 25,185.

Shares to buy or sell today on Tuesday- Sachin Gupta

On shares to buy on Tuesday, Sachin Gupta recommends Aurobindo Pharma Ltd, and Bharat Dynamics Ltd.

Aurobindo Pharma

Aurobindo Pharma share price is showcasing a bullish technical outlook, marked by a consolidation phase within a bullish pennant pattern. This pattern suggests a possible continuation of the upward trend observed earlier. Additionally, the stock is trading above both its 100-day and 200-day exponential moving averages (EMAs), signaling a positive medium- to long-term trend. A breakout above the upper boundary of the pennant could confirm the continuation of the bullish momentum.

Furthermore, indicators such as the CCI and MFI are supporting an uptrend for the medium term. Therefore, traders are advised to consider buying above ₹1,245 level, with a stop loss at ₹1,198 and potential targets of ₹1,315 and ₹1,350.

Bharat Dynamics (BDL)

Bharat Dynamics share price is displaying a strong bullish technical outlook, marked by a series of higher peaks and higher troughs over the past five weeks, indicating a solid uptrend. BDL share price is trading above its 200-day Exponential Moving Average, further supporting the bullish trend. A significant surge in volume was observed today, suggesting increased investor interest and the potential for continued upward momentum.

Based on above structure, we are anticipating a bullish move in BDL shares if it remains above the ₹1,570 level, with potential targets at ₹1,635 and ₹1,680. Traders should place a stop loss at ₹1,505 for any long positions.

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 decision.