Best stocks to trade today: Expert Raja Venkatraman's recommendations for 12 June

Three stocks to trade, recommended by NeoTrader’s Raja Venkatraman for Thursday, 12 June:

 

MASTEK (current price ₹2,465.20)

• Why Mastek is recommended: IT index after the beginning of 2025, when the fall began due to the Trump effect, which created a bottom, ensuring that the trends recover albeit a little slowly. The last two days the revival seen in the IT index across large and mid-caps have been attracting attention. The strong surge in this counter after forming a rounding pattern is showing signs of more upside with momentum supporting the cause.
• Key metrics: P/E: 63.31, 52-week high: ₹3375, Volume: 41.13M.
• Technical analysis: Support at ₹2040, resistance at ₹2800.
• Risk factors: Geopolitical news could impact returns.
• Buy at: CMP and dips to  ₹2370.
• Target price:  ₹2580-2650 in 1 month.
• Stop loss:  ₹2350.

Also Read: Affordable housing financiers get a RBI rate cut boost. But it may not last. 

SNOWMAN (Current price ₹62.70)

• Why SNOWMAN is recommended: The company posted a significant increase in its Q4 numbers, indicating that some robust operations have been implemented. The prices have been showing some strong promise, and the surge after consolidation at the TS Bands hints at more upside potential in the prices. You can look to go long.
• Key metrics: P/E: 183.94, 52-week high: ₹91.55; Volume: 3.41M.
• Technical analysis: Support at ₹43, resistance at ₹90.
• Risk factors: Transportation issues.
• Buy at: CMP and dips to ₹58.
• Target price: ₹70-74 in 1 month.
• Stop loss: ₹55.

PRSMJOHNSON (Current price: ₹159.97)

• Why PRSMJOHNSON is recommended: The counter has been under intense selling pressure since the start of the year. The prices started staging a recovery and a steady higher high higher low showed some promise right from the start of the year.  As when the selling reduced to stage a strong cloud breakout indicating that the positive turnaround is emerging. After the recent test of the TS & KS Bands. With a strong closing on Wednesday, we can look at some positive vibes to emerge.
• Key metrics: P/E: 78.47, 52-week high: ₹246.10, volume: 6.38M.
• Technical analysis: Support at ₹125, resistance at ₹175.
• Risk factors: Supplier retention and potential customer acquisition challenges.
• Buy at: above 160 and dips to ₹152.
• Target price: ₹172-180 in 1 month.
• Stop loss: ₹148.

Stock Market Recap

After an impressive four-day rally, banking stocks took a breather on 10 June, leading to a subdued performance in the Bank Nifty. Despite this pause, the broader market remained stable, with India VIX continuing its downward trend, signalling a lack of investor anxiety.

Meanwhile, the IT sector stood out as a clear winner, with heavyweight technology firms—TCS, Infosys, HCL Technologies, and Wipro—fuelling a strong uptick in the Nifty IT index. Large-cap tech stocks drew investor interest, keeping momentum alive in the sector.

In contrast, the real estate space faced selling pressure for the second consecutive session. The Nifty Realty index saw profit booking, as investors secured gains, leading to a dip in the sector.

Overall, the market moved within a tight range, reflecting cautious sentiment among traders. The decline in volatility indicators pointed toward stability, as investors weighed sector-specific movements against broader economic cues. With banking stocks on hold and IT leading the charge, market dynamics continue to evolve, shaping investment trends.

Also Read: Rally in SBI Card may have priced in improved outlook

Outlook for trading 

There is a lack of clarity in the market. There really wasn’t much local news flow to contain the volatility induced. The moves were also reasonably large, creating sufficient moves to bring people in, only to get knocked out the following day! Trading, therefore, was quite difficult throughout the week, and it would have been a wonder if one came out largely unscathed in the week.

Small body candles at higher levels does not inspire any confidence. While we head towards the end of the week, we have to see how the trends shall unfold. At the moment, there is a high possibility that there could be some profit booking as markets are not able to hold on to the gains.

As Bank Nifty failed to live up to the expectations supports around 56000 is now under threat as trends take a breather. Nifty now seeks to contest the resistance around 25200 mark while Bank Nifty is struggling to hold 56000 to clear the air of uncertainty.

Also Read: Bata’s turnaround is taking time—and the market’s patience is wearing thin

  

For Nifty to stage an upmove the spot needs to close above 25200 which acts as a big hurdle is the immediate resistance  for some bullish revival. With the Open Interest data clearly indicating that 25200 is an important point of contention one should keep tracking a 30-minute range move on Thursday as an important metric for creating some longs.

Volatility is now part of the ever-changing market scenario as the sentiment keeps changing. Risk management is critical, as the lack of clarity is greater than ever.

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.