Best Stocks To Buy Today: Andhra Paper, Ashiana Housing Among Top 5 Picks For December 17, 2024

Stocks to Watch: Around 10:36 AM, the BSE Sensex plummeted almost 800 points and fell under 80,950, while the NSE Nifty50 plunged more than 250 points and traded at 24,416.75

Investors remained cautious ahead of the US Federal Reserve’s interest rate decision.

Source : ABPLIVE AI

Stocks to Watch: The key benchmark indices began trading on December 17 as investors remained cautious ahead of the US Federal Reserve’s interest rate decision. As the session progressed, the stock market continued to bleed.

Around 10:36 AM, the BSE Sensex plummeted almost 800 points and fell under 80,950, while the NSE Nifty50 plunged more than 250 points and traded at 24,416.75.

V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services, noted, “Markets have already discounted a 25 bps rate cut and, therefore, the focus will be on the Fed chief’s commentary. Any departure from a dovish commentary will be negative from the market perspective. This is only a remote possibility.”

Stock Recommendations By Kunal Kamble, Senior Technical Research Analyst At Bonanza

Sun Pharma Advanced Research Company

The SPARC stock has given a breakout which signals a possible trend reversal to the upside and the boost in volume during the breakout indicates healthy buying interest from investors. A long position can be considered in the stock with a stop-loss (SL) of 205 and target price range of 260-280.

Avanti Feeds

AVANTIFEED equity recently broke out of a pattern signalling a potential shift to an uptrend. Investors can assume a long position in the stock as long as it holds support above 607 and expects a target range of 790-850.

Ashiana Housing

ASHIANA securities broke out of a falling trend line, indicating a trend reversal to the upside. Investors can assume a long position in the stock as long as it holds support above 328, with a target range of 450-500.

Dynamic Cables

DYCL closed at an all-time high with rising volumes, signaling robust buyer interest. Based on a technical analysis, a long position can be initiated in DYCL with a stop-loss (SL) at 930.

Andhra Paper

ANDHRAPAP broke out of an inverse head and shoulders pattern on the daily timeframe, indicating a potential trend reversal to the upside. This breakout is supported by a surge in volume, reflecting strong buying interest. Based on this technical setup, a long position in ANDHRAPAP can be considered with a stop-loss (SL) at 99 and an anticipated target price (TP) range of 120–150.

(Disclaimer: The views and recommendations provided above are those of individual analysts or brokerage firms, and do not reflect the opinions of ABP Live. We recommend that investors consult certified experts before making any investment decisions.)