Top three stocks to buy today: Expert Ankush Bajaj's picks for 19 May

Top three stock recommendations by Ankush Bajaj for 19 May

Buy: Adani Green Energy Ltd (ADANIGREEN) (current price: ₹1,020)

• Why it’s recommended: On the daily chart, the stock has formed a reverse head and shoulder pattern, which is a bullish reversal signal. The volume is supportive, indicating strong participation. Additionally, the stock has closed above the 61.80% Fibonacci retracement level, suggesting a continuation of bullish momentum in the near term.
• Key metrics: Resistance level: ₹1,065– ₹1,075 (supply zone) Support level: ₹999 (pattern invalidation level)Pattern: Reverse Head and Shoulder Volume: Rising volume confirms pattern - strength
• Technical analysis: Price is trading above key short-term averages. The breakout above the retracement level with volume confirmation supports a bullish bias. The reverse head and shoulder formation adds conviction to the expected upside.
• Risk factors: Breakdown below ₹999 with volume may invalidate the pattern. Broad market correction or weakness in energy sector could impact the setup.
• Buy at: ₹1,020
• Target price: ₹1,065– ₹1,075 in 4–5 days
• Stop loss: ₹999

Buy: Aarti Industries Ltd (AARTIIND) (current price: ₹474)

• Why it’s recommended: After a 4–5 day consolidation, the stock has closed above ₹470, which was acting as a recent resistance level. Earlier, the stock gave a flat breakout near ₹445, pointing to a potential target zone around ₹500. The current price action indicates the possibility of a near-term bullish move.
• Key metrics: Resistance level: ₹500– ₹505 (measured move target), Support level: ₹460 (recent base) Pattern: Flat breakout followed by consolidation breakout, Volume: Moderate but steady during the breakout zone
• Technical analysis: Price is sustaining above short-term moving averages. The breakout above ₹470 confirms buying interest and breakout continuity. Prior base near ₹445 now acts as a strong foundation for upward targets.
• Risk factors: Breakdown below ₹460 with volume may invalidate the bullish setup. Broader market weakness or sector-specific drag could affect short-term price movement.
• Buy at: ₹474
• Target price: ₹500– ₹505 in 4–5 days
• Stop loss: ₹460

Also Read: Indian defence firms skyrocket after Pakistan skirmish

Buy: Bharat Dynamics Ltd (BDL) (current price: ₹1,842)

• Why it’s recommended: On the daily chart, the RSI is trending above 60, indicating strong momentum. The stock has also made a new lifetime high, supported by good volumes, which suggests strong institutional participation. These factors indicate the potential for a good trending day in the near term.
• Key metrics: Resistance level: ₹1,970– ₹2,000 (new high extension zone), Support level: ₹1,775 (recent swing low), Pattern: Fresh breakout to lifetime high, Volume: Strong and rising during the breakout.
• Technical analysis: The stock is trading above all key moving averages. RSI > 60 and rising volume validate the strength of the move. New highs supported by momentum and volume typically lead to follow-through buying.
• Risk factors: Breakdown below ₹1,775 with volume may invalidate the setup. Any adverse news or broader market correction could affect short-term trend.
• Buy at: ₹1,842
• Target price: ₹1,970– ₹2,000 in 4–5 days
• Stop loss: ₹1,775

Also Read: Mint Explainer: Understanding NSE's new framework for retail algo trading and what it means for traders

Market Update: 16 May 2025

After a strong upward momentum throughout the week, the Indian stock market finally hit the brakes on Friday, showing signs of consolidation. As the weekend approached, investor sentiment turned cautious, resulting in a session that remained largely range-bound. The day was marked by indecisiveness and muted trading activity, with many participants opting to book profits following recent gains.

The Nifty 50 traded within a tight band throughout the day and eventually closed flat at 25,019.80, rising just 42.30 points or 0.17%. This sideways movement reflected a sense of market exhaustion after a robust bullish streak, possibly signaling a pause before the next major directional move. A similar trend was seen in the BSE Sensex, which ended the session at 82,330.59, gaining 200.15 points or 0.24%. 

Meanwhile, the Bank Nifty remained nearly unchanged, adding a negligible 0.70 points to close at 55,354.90, indicating subdued interest in financial heavyweights.

Adding to the quiet sentiment, India Vix continued to decline, pointing toward low volatility and suggesting that traders were not expecting any major surprises in the short term. The lack of strong momentum on either side hinted that the market may be waiting for fresh domestic macroeconomic data or global cues to drive its next move.

Sectoral View

The broader sectoral performance on Friday painted a neutral picture, with no particular sector clearly leading or lagging, further reinforcing the market’s range-bound character.

On the positive side, the Public Sector Enterprises (PSE) index gained 1.81%, supported by optimism surrounding energy sector reforms and rising demand in electric vehicles. The Realty Index followed closely with a 1.63% rise, as traders rotated into housing and commercial real estate stocks. 

Energy stocks also witnessed modest gains of 0.85%, driven by strong commodity prices and better export prospects.

Conversely, some sectors witnessed mild profit booking. The services index slipped 0.42%, while the healthcare sector dipped 0.30%, largely pressured by select pharma names. The infrastructure sector also edged lower by 0.17%, reflecting tepid interest in capital goods and related themes.

Also Read: Sebi’s PSU delisting proposal sparks calls for parity with private companies

Stock Highlights

In a largely muted session, there were only a handful of notable movers. Top gainers included Bharat Electronics Ltd, which surged 3.85%, continuing to benefit from sustained defense order inflows and optimism in the electric vehicle-linked ecosystem. 

Bajaj Auto added 1.88%, bolstered by renewed strength in the metals space. Tata Consumer Products climbed 1.81%, as the market responded positively to recent large orders and robust earnings expectations.

On the downside, Bharti Airtel declined 2.85%, likely facing profit booking after its recent outperformance. HCL Tech slipped 2.13%, contributing to the broader weakness in the IT space. State Bank of India ended the day 1.94% lower, dragged down by muted banking activity and sectoral rotation away from PSU banks.

Nifty Technical Analysis 

After a strong rally on 15 May, the Nifty briefly consolidated, closing around 42 points lower. Despite this minor dip, the index remains on track, resuming its upward movement toward the 25,300 mark. Notably, Nifty has managed to hold above the key psychological level of 25,000, indicating continued strength.

Support is now shifting higher to 24,800, and any dips toward this level are likely to be viewed as buying opportunities. Momentum indicators on both the daily and hourly charts have shown a positive crossover — a technical buy signal — reinforcing a bullish view.

From a technical standpoint, the index is currently trading above key moving averages. On the daily chart, Nifty is well above the 20-day EMA and 40-day DEMA, currently placed at 24,394 and 23,931, respectively. The momentum indicator on the daily timeframe also supports this upward bias with a bullish crossover.

On the hourly chart, Nifty is holding above the 20-hour and 40-hour EMAs, at 24,845 and 24,745, respectively. Here too, the momentum indicator shows a positive crossover, adding to the short-term bullish narrative.

Market breadth further supports this view, with 1,958 stocks advancing and 919 declining on the National Stock Exchange, reflecting broad-based market participation.

Conclusion

The technical setup remains favorable, and with key levels holding firm, the outlook on Nifty stays positive. Traders may consider buying on dips, especially near support levels, as the index continues its journey toward 25,300.

Ankush Bajaj is a Sebi-registered research analyst. His registration number is INH000010441. 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 guarantee 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.