Top 3 stocks to buy today, 22 April: Raja Venkatraman recommends
Summary
- Expert stock picks: Here are three stocks to buy, as recommended by Raja Venkatraman of NeoTrader, for Tuesday, 22 April.
Buoyed by strong Q4 earnings from private banks and a rally in mid- and small-cap stocks, benchmark indices Nifty and Sensex notched their fifth straight session of gains on 21 April.
Robust results from key lenders helped boost investor sentiment, while sustained foreign inflows further fueled the momentum—Foreign Institutional Investors (FIIs) have remained net buyers for three consecutive sessions.
Read this | Global volatility, not government, may spark a PSU renaissance
Three stocks to buy today, recommended by NeoTrader’s Raja Venkatraman:
Here are the three best stocks to buy as recommended by Raja Venkatraman of NeoTrader for Tuesday, 22 April.
Network18 Media & Investments Ltd (Network18): Buy CMP and dips to ₹44, stop ₹43 target ₹48.50-51
Usha Martin Ltd: Buy CMP, stop ₹301 target ₹335-345
NLC India Ltd: Buy CMP and dips to ₹239, stop ₹235 target ₹268-280
Stock Market Today, 21 April
Nifty and Sensex ended higher on 21 April, Monday, lifted by HDFC Bank’s strong Q4 results that buoyed investor sentiment. However, gains were tempered by declines in energy, metal, and PSU bank stocks. The mid- and small-cap indices, along with the banking sector, outperformed—extending their rally late into the session and helping the broader market recover.
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That said, market optimism remains fragile. Persistent uncertainty around the Trump-era tariff war, selling pressure from foreign portfolio investors (FPIs), a slowing economy, and mixed corporate earnings continue to weigh on investor confidence.
Stock Market Outlook
The road ahead appears riddled with uncertainty, as future trends will largely hinge on how Q4 earnings unfold. While the rupee continues to weaken, breaching the ₹85 mark, equity indices have surged beyond expectations—posing both an opportunity and a challenge for traders navigating this unprecedented momentum.
Read this | ICICI Bank vs HDFC Bank: Who’s racing ahead in FY25?
On the daily charts, the bearish pressure that emerged near the previous highs around 23,800 was quickly neutralized by a strong breakout above key resistance levels. Last Thursday’s long-bodied bullish candle hinted at the potential for sustained gains. With robust support from Nifty Bank, the broader market trend remains upward.
Going forward, the 24,000 zone now acts as a strong support base. Option data currently indicates low volatility, and a shift in bias would only be warranted if Nifty dips below 23,800. A subdued opening is likely, given the lack of clear directional cues, but the RSI remains resilient—suggesting room for revival.
Nifty has already met last week’s target of 24,200, paving the way for a possible move toward 24,500. Traders may look to buy on dips near support zones.
That said, global cues—especially US economic data—remain critical, and markets could be prone to knee-jerk reactions in response to overseas developments.
Three stocks to buy, recommended by NeoTrader’s Raja Venkatraman:
Buy NETWORK18 (current price ₹45.35)
> Why it’s recommended: The stock is showing signs of recovery after a prolonged consolidation phase. With improving sentiment in the media and entertainment sector, it presents a potential long opportunity.
> Key metrics: P/E: Not applicable (negative EPS), 52-week high: ₹106, volume: 2.49M.
> Technical analysis: Support at ₹39.66, resistance at ₹60.
> Risk factors: Dependence on advertising revenue and fluctuations in media consumption trends could impact performance.
> Buy at: CMP and dips to ₹44.
> Target price: ₹48.50-51 in 3 months.
> Stop loss: ₹42.
Usha Martin (current price ₹312.70)
> Why it’s recommended: Strong fundamentals and consistent demand for steel wires and ropes make this stock attractive. Recent price action indicates potential upside.
> Key metrics: P/E: 23.70, 52-week high: ₹451, volume: 603.87k.
> Technical analysis: Support at ₹278.55, resistance at ₹400.
> Risk factors: Volatility in steel prices and global economic conditions could affect margins.
> Buy at: CMP and dips to ₹300.
> Target price: ₹335-345 in 3 months.
> Stop loss: ₹301.
NLC India (current market price ₹247.51)
> Why it’s recommended: The company’s focus on renewable energy projects and consistent performance in power generation make it a promising investment.
> Key metrics: P/E: 14.10, 52-week high: ₹311.80, volume: 1.19M.
> Technical analysis: Support at ₹186, resistance at ₹275.
> Risk factors: Regulatory changes and fluctuations in coal and lignite prices could impact profitability.
> Buy at: CMP and dips to ₹220.
> Target price: ₹260-280 in 3 months.
> Stop loss: ₹200.
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.
