Top 3 stocks to buy today: Expert Ankush Bajaj's picks for 12 May

The India VIX surged highlighting increased investor anxiety and volatility. The BSE Sensex ended the day at 79,454.47, down 880.34 points or 1.10%, while the NSE Nifty 50 slipped 265.80 points or 1.10%, closing at 24,008. The Bank Nifty also declined 1.10% to end at 53,595.25.

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Top 3 stocks recommended by Ankush Bajaj

Buy: Titan Company Ltd (current price: ₹3510)

Why it’s recommended: On daily chart, stock’s RSI is trading above 60. Also, MACD has given a buy signal and on lower time frame (15 min), stock has formed a double bottom and recently given a rectangle breakout.

Key metrics: Resistance level: ₹3560 (near-term resistance), Support level: ₹3480 (recent breakout zone), Pattern: Double bottom + Rectangle breakout, Volume: Moderate volume during breakout

Technical analysis: Price is trading above all major moving averages. RSI >60 and MACD crossover suggest bullish momentum. Breakout on 15-min chart indicates short-term continuation.

Risk factors: Breakdown below ₹3480 with volume may invalidate the pattern. Intraday volatility or market weakness may impact the trade.

Buy at: ₹3510

Target price: ₹3560 in 1–3 days

Stop loss: ₹3480

Buy: NMDC Ltd (current price: ₹64.20)

Why it’s recommended: Stock has made double bottom at ₹59 level and after that we have seen decent rally till ₹69. Recently, price has corrected till ₹64 and now showing a bullish reversal signal. Expecting a good bounce back in this stock.

Key metrics: Resistance level: ₹72 (recent swing high zone), Support level: ₹59 (double bottom support), Pattern: Double bottom + pullback reversal, Volume: Moderate during reversal

Technical analysis: Price is above short-term moving averages and showing signs of strength after pullback. Double bottom pattern and bullish reversal candle suggest continuation of the uptrend.

Risk factors: Breakdown below ₹59 with volume may invalidate the setup. Global metal price weakness could affect the momentum.

Buy at: ₹64.20

Target price: ₹70– ₹72 in 1 week

Stop loss: ₹59

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Buy: K.P.R. Mill Ltd (current price: ₹1306)

Why it’s recommended: Stock has made new lifetime high level, also a volume breakout is seen, expecting a good trend in near term.

Key metrics: Resistance level: ₹1450 (upper resistance zone), Support level: ₹1215 (recent breakout support), Pattern: Lifetime high breakout, Volume: Strong volume during breakout

Technical analysis: Price is trading above all major moving averages. Breakout with volume and fresh all-time high indicates bullish strength and trend continuation.

Risk factors: Breakdown below ₹1215 with strong volume may invalidate the setup. Broader market volatility may impact short-term price movement.

Buy at: ₹1306

Target price: ₹1430– ₹1450 in 1–2 weeks

Stop loss: ₹1215

Sectoral performance

The sell-off was broad-based across sectors. TheNifty Realty index declined2.38%, reflecting fears of delayed project timelines and cautious investor sentiment. TheNifty Financial Services index dropped1.84%, hurt by concerns over rising credit risks amid macro uncertainty. TheNifty Services Sector slipped1.45%, impacted by weakness in telecom and business service providers. TheNifty PSU Bank managed to close1.59% higher, showing resilience and selective buying in public sector banks.

Top gainers

Despite the negative mood, a few stocks outperformed. Titan Company surged 4.18%, backed by robust Q4 earnings and sustained demand for premium watches and jewellery. Tata Motors gained 3.76%, driven by strong April sales and optimism in its EV segment. Larsen & Toubro (L&T) advanced 3.61% after posting better-than-expected Q4 results and announcing strong order inflows.

Top losers

Some heavyweight stocks bore the brunt of the sell-off. ICICI Bank fell 3.25%, as financial stocks faced pressure from rising uncertainty. Power Grid Corporation declined 2.90%, impacted by regulatory concerns and lower investor appetite for defensives. Grasim Industries dropped 2.37%, dragged down by weakness in the cement and textile business outlook.

Nifty technical analysis

The Nifty saw a gap down opening and thereafter consolidated throughout the day. It closed in the red, down ~266 points. On the weekly charts, the index has formed an Engulfing Bear candlestick pattern at the 61.82% Fibonacci retracement level (24,500) of the entire September to April decline. The daily momentum indicator has given a negative crossover which is a sell signal. Thus, minor degree pullbacks towards the resistance zone of 24,100–24,150 should be considered as a selling opportunity.

INDIAVIX has spiked another 2.5% to 21.54 which is a sign of near-term heightened volatility and also suggests that prices can react negatively going ahead. On the downside, we expect the index to drift towards 23,500 which coincides with the 200-day exponential moving average and the 38.2% Fibonacci retracement level of the rise from 21,743 to 24,589.

On the daily chart, Nifty is trading above the 20-day moving average (DMA) and the 40-DEMA of 23,910 and 23,670 respectively. The momentum indicator has a negative crossover on the daily chart.

On the hourly chart, Nifty is trading below the 20-hour moving average (HMA) and the 40-HEMA of 24,248 and 24,254 respectively. The momentum indicator has a negative crossover on the hourly charts.

Market breadth was negative with 1,063 advances and 1,752 declines on the NSE.

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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.

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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.