Three stocks to trade as recommended by Raja Venkatraman of NeoTrader:
Best stocks to buy today (All Buy trades are rates of Equity & Sell rates are based on F&O)
Avanti Feeds Ltd: buy above ₹1,105 | stop ₹1,070 | Target ₹1,185 (multiday)
Jamna Auto Industries Ltd: buy above ₹136 | stop ₹132 |Target ₹145 (multiday)
Inox Wind Ltd: buy above ₹112 | stop ₹107 | Target ₹125 (multiday)
stock market today
On 9 February, Indian equity benchmarks extended their winning streak, buoyed by strong foreign inflows and supportive global cues. The Nifty opened on a firm note near 25,840 and quickly scaled higher, touching an intraday peak above 25,920 before encountering profit-booking at elevated levels. Despite some selling pressure, the index held comfortably above 25,850 at the close, underscoring resilient investor sentiment. The Sensex advanced over 480 points to settle around 84,065, while the Nifty gained nearly 174 points to finish at 25,867.
Broader markets outperformed the benchmarks, with the Nifty Midcap Index climbing 1.6% and the Smallcap Index surging 2.6%, reflecting widespread buying across sectors. Optimism surrounding the interim trade framework with the US, which includes tariff reductions on select Indian goods, further bolstered confidence, particularly in export-oriented segments. Overall, the session highlighted broad-based strength and sustained momentum in domestic equities.
Outlook for trading
Our hopes got a strong boost yet again this Monday as the Nifty retained its positive sentiment despite some negative global cues, suggesting that the trends continue to exude a positive bias. The scampering by short holders with the week ending brought about a fair amount of volatility, and the markets retained the bullish tone set at the start of the day. However, we can observe that the market is still attempting to stage an upward run and will need some time to stabilize before it sets the pace for the trend recovery.
Post some enthusiasm shown last week, the markets drifted into a sideways phase. Geopolitical tensions remain steady, keeping any possibility of recovery at bay. With the trends remaining sanguine, we need to scale back our approach to the market as a whole. The important part here is that at every possible moment, the markets are seen heading higher. It is easier to target stock-specific actions rather than broader indices. Right now, synergy is building between the three main indices, the Nifty and the Bank Nifty, while IT is taking a breather while certain relevant stocks are performing.
Moving to the charts, we note that prices are continuing to exhibit a slow and steady move to the upside, highlighting a bullish bias emerging at lower levels. Despite repeated attempts to move lower, the Nifty moved beyond 25,800. The Open Interest seen on the daily chart shows that there is an alternating position getting created, which indicates that the markets are definitely uncertain. The Gap drawn has been holding back the profit booking, and the median line shown would be the target of the upward charge. A move from here could see the Nifty scale towards its next set of targets around 26,250, which is the near-term high. This level is combining with the median line, and this could prove to be a tough challenge for the Nifty.
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Overall, the market is poised at an interesting stage as the trends have picked up steam with some encouraging newsflow from overseas as well as domestic macro numbers that indicate that we could be looking at this recovery to sustain. The new initiatives by the government to kickstart the consumption theme have also found some good buy-in. The steady tailwinds that are emerging post the trade deal could help the cause.
Three stocks to trade, recommended by NeoTrader’s Raja Venkatraman:
AVANTIFEED (Cmp ₹1103.80)
Why it’s recommended: Avanti Feeds Ltd is India’s leading integrated aquaculture company, specializing in shrimp feed manufacturing, hatcheries, farms, and shrimp processing for global export. A strong breakout above the value resistance zone around 900 augurs well for prices. With the trade deal giving more wings to the prices, we can now expect the momentum to continue further. A long body closing on Monday, we can look at some buying to continue.
Key metrics:
P/E Ratio: 26.24
52-week high: ₹1,140.80
Volume: 2.63M
Technical analysis: Support at ₹1,040 | Resistance at ₹1,225.
Risk factors: Volatile raw materials (soybean, fishmeal) and freight costs; potential disease outbreaks in shrimp farms.
Buy: above ₹1,105.
Stop loss: ₹1,070.
Target price: ₹1,185. (two months)
JAMNAAUTO(Cmp ₹135.14)
Why it’s recommended: Jamna Auto Industries Limited (JAI) is India’s leading manufacturer of automotive suspension systems, including leaf springs, parabolic springs, air suspensions, and lift axles for commercial vehicles. With the Budget and strong Q3 earnings, prices have been able to absorb profit-taking and demonstrate that some are holding on to recent highs, while recent dips are emerging to stage a sharp revival, leading to strong upward traction. The long body candle seen on Wednesday, despite large-scale volatility, suggests we may see a push to higher levels. Go long now.
Key metrics:
P/E: 25.11,
52-week high: ₹138.60,
Volume: 4.17M.
Technical analysis: Support at ₹125 | Resistance at ₹152.
Risk factors: Primarily driven by tightening liquidity, raw material price volatility, and general economic sensitivity, regulatory changes.
Buy: above ₹136
Stop loss: ₹131
Target price: ₹145 (2 months)
INOXWIND (Cmp ₹111.59)
Why it’s recommended: INOX Wind Ltd. (IWL) is a leading, fully integrated Indian wind energy solutions provider, part of the INOXGFL Group, manufacturing Wind Turbine Generators (WTGs) and key components (nacelles, hubs, blades, towers). A rounding pattern on daily charts has fueled some recovery in the last few months. The sharp fall that has been witnessed over the last 6 months is looking to turn around as it sees some stabilization post-Budget. As the tariff impact reduces, we can now witness a rebound. A long-bodied candle seen on Monday augurs well for prices. Buy.
Key metrics:
P/E Ratio: 32.96
52-week high: ₹198.14
Volume: 18.68M
Technical analysis: Support at ₹105 | Resistance at ₹130.
Risk factors: High debt, requiring careful management despite recent profit growth, and valuation concerns.
Buy: above ₹112.
Stop loss: ₹107.
Target price: ₹125. (2 Months)
Raja Venkatraman is co-founder, NeoTrader. His SEBI-registered research analyst registration no. isINH000016223.
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.
