Stocks to buy: Bharti Airtel, BPCL, Angel One among stock picks for today by expert

The Indian stock market benchmark indices, Sensex and Nifty 50, opened higher on Thursday led by gains in IT, metals, financials and other stocks amid positive global cues.

The Sensex traded 182.52 points, or 0.25%, higher at 73,169.55, while the Nifty 50 was up 51.40 points, or 0.23%, at 22,251.95.

Rupak De, Senior Technical Analyst, LKP Securities believes a decisive move beyond the 22,250 level could potentially propel Nifty towards 22,600 and beyond. On the contrary, a failure to sustain above 22,200 might invite selling pressure in the market.

Rupak De has recommended three stocks as his top picks for today, May 16. He has recommended Angel One, Bharti Airtel and Bharat Petroleum Corporation Ltd (BPCL) as stocks to buy today.

Also Read: Buy or sell: Vaishali Parekh recommends three stocks to buy today — May 16

Here are the key recommendations by LKP Securities:

Angel One | Buy | Target: ₹2,900 | SL: ₹2,600

Angel One share price has risen after two days of consolidation on the daily chart, indicating increased bullishness. Furthermore, Angel One stock has surpassed the critical 21-EMA (Exponential Moving Average) on the daily timeframe, indicating a positive price trend for the short term. Additionally, the RSI is showing a bullish crossover. On the upper end, it could potentially reach ₹2,900, while support is positioned at ₹2,600.

Bharti Airtel | Buy | Target: ₹1,350 - 1,385 | SL: ₹1,274

Bharti Airtel stock price has given a consolidation breakout on the daily chart, suggesting a rise in optimism. Furthermore, Bharti Airtel shares have been sustaining the critical 21-EMA for the last few days, indicating a positive price trend for the short term. Additionally, the RSI is showing a bullish crossover. On the upper end, it could potentially reach ₹1,350 - 1,385, while support is positioned at ₹1,274.

Also Read: Stock market today: Trade setup for Nifty 50 to India VIX, eight stocks to buy or sell on Thursday — May 16

BPCL | Buy | Target: ₹650 - 670 | SL: ₹600

BPCL share price is poised for a breakout from a consolidation phase, accompanied by volume-based buying. It has found support at its 20-day moving average (20 DMA), situated at the level of ₹608, serving as a cushion against declines. Furthermore, the positive crossover on the momentum indicator RSI validates the buy signal, signaling potential upward movement. On the upper end, it could potentially reach ₹650 - 670, while support is positioned at ₹600.

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