Best stocks to buy today—11 April—as recommended by Raja Venkatraman
Summary
- NeoTrader's co-founder Raja Venkatraman recommends three best stocks to buy today
The Reserve Bank of India's policy decision is now behind us—the central bank on Wednesday cut its key policy measure, the repo rate, by 25 basis points to 6%—but the market trends remain unclear as global cues still have a deep overhand that can lead to confusion. Thus, we need to find some encouraging triggers to arrest the bearish mindset in the days to come.
Meanwhile, here are three stocks to buy as recommended by Raja Venkatraman of NeoTrader for Friday, 11 April.
Also read | Mint Explainer: How RBI's latest rate cut, change in stance impact borrowers, depositors
Best stocks to buy today
• PARSVNATH: Buy above: ₹24.25 | Stop: ₹23.25 | Target: ₹26-28
• JYOTHYLAB: Buy above: ₹380 | Stop: ₹365 | Target: ₹410-425
• AVANTIFEED: Buy CMP and on dips to ₹730 | Stop: ₹720 | Target: ₹820-845
The stock market on 9 April
On 9 April, benchmark indices Nifty and Sensex faced significant declines, primarily impacted by sharp drops in IT, metal, and PSU bank stocks. The market sentiment took a hit after the Reserve Bank of India reduced its FY26 GDP growth projection to 6.5% from 6.7%. Despite this, RBI announced a 25-basis point reduction in its key lending rate, unanimously approved by the Monetary Policy Committee.
The central bank has shifted its focus decisively towards fostering growth. With inflation expectations firmly managed—the FY26 CPI estimate adjusted downward to 4%—RBI has identified an opportunity to stimulate demand while maintaining macroeconomic stability.
Most of the sectoral indices ended the session in negative territory barring FMCG and auto. The widespread selloff highlighted the market's vulnerability to global economic uncertainties and the potential consequences of trade conflicts.
Outlook for trading
With RBI's policy not proving to be much of a trigger we are now forced to move ahead to look at the Q4 numbers and decide on the way ahead. Post the Q3 results the impact has been quite stressed. This time around the expectation is on similar lines. Global markets continuing on a bearish momentum would create some continued volatility that shall force us to keep our expectations curtailed.
As far as Nifty is concerned, we are noting a gap-up on the daily charts, which has held quite well. The last two trading sessions have managed to hold above the long body candle pattern. Further, the down sloping Pitchfork has managed to arrest the decline. With the median line lending strong supports we can expect the market to attempt a revival.
At the moment, the trends remain muted as there are not many cues emerging. However, the result season is around the corner and the markets are attempting to stabilize. The financials will have the key to revival from here on.
The option data clearly spells out that the higher levels are pressured. The sustained selling at higher levels shows that given the max pain in Bank Nifty at 51,000 and Nifty at 22,450, the trends are having strong tailwinds. The reaction from lower levels continues to fuel some upside. As trends remain hesitant it highlights that the levels are slowly and steadily inducing more bullishness in the market.
Three stocks to trade, recommended by NeoTrader’s Raja Venkatraman
PARSVNATH
Buy: PARSVNATH (current price: ₹24.23)
- Why it’s recommended: The stock is showing signs of recovery after consolidating near its support levels. Positive momentum in the real estate sector adds to its potential for upside.
- Key metrics: P/E: N/A, 52-week high: ₹26.19, volume: 2.19 million
- Technical analysis: Support at ₹19, resistance at ₹25.50
- Risk factors: High debt levels and fluctuations in real estate demand could impact performance.
- Buy at: CMP and dips to ₹22.
- Target price: ₹25-27 in 3 months.
- Stop loss: ₹21.
JYOTHYLAB
Buy: JYOTHYLAB (current price: ₹379.60)
- Why it’s recommended: Strong fundamentals and consistent performance in the FMCG sector make it a reliable pick. Recent product launches could drive growth.
- Key metrics: P/E: 33.79, 52-week high: ₹595.85, volume: 335,800
- Technical analysis: Support at ₹320, resistance at ₹380
- Risk factors: Rising input costs and competitive pressures in the FMCG space
- Buy at: above ₹380
- Target price: ₹410-425 in 3 months
- Stop loss: ₹365
AVANTIFEED
Buy: AVANTIFEED (current price: ₹759.25)
- Why it’s recommended: The stock has rebounded strongly, supported by robust demand in the shrimp feed and aquaculture sectors. Positive export trends add to its appeal.
- Key metrics: P/E: 22.25, 52-week high: ₹964.20, volume: 2.85 million
- Technical analysis: Support at ₹700, resistance at ₹820
- Risk factors: Export dependency and vulnerability to global trade policies
- Buy at: CMP and dips to ₹730
- Target price: ₹820-845 in 3 months
- Stop loss: ₹720.
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.
topics
