Best Stocks To Buy Today: Bharti Airtel, Delhivery Among Top 5 Picks For December 16, 2024

Around noon, the BSE Sensex plunged more than 500 points and traded near 81,627, while the NSE Nifty50 took a hit of close to 150 points and stood at 24,623

Investors can consider a long position in Delhivery as long as it holds above 320, with an upside target of 500-600.

Source : ABPLIVE AI

The Indian indices began the trading week starting December 16 on a weaker note in anticipation of the WPI inflation data. Around noon, the BSE Sensex plunged more than 500 points and traded near 81,627, while the NSE Nifty50 took a hit of close to 150 points and stood at 24,623. 

V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services, noted, “The excessive volatility witnessed on Friday is a reflection of the sharp differences in perceptions about the near-term market trend. While FIIs turning buyers in December, so far, after the relentless selling in the previous two months is positive, investors should not assume that the FIIs will continue to buy. Strong dollar and high bond yields in the US are headwinds for capital flows.”

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

Bharti Airtel

Bharti Airtel witnessed a 5-week correction and eventually moved higher for a week. The increase in volume further highlighted the robust buying interest in the stock. From a technical point of view, a long position can be initiated in Bharti Airtel with a stop-loss at 1550 and an upside target of 1800-2000.

Page Industries 

Page Industries gave a breakout, signalling an uptrend in the stock. The higher volume on buying days reflected strong interest. From a technical point of view, a buy positon in Page Industries can be considered till it remains above 45,780, with an upward target of 53,000-55,000.

Delhivery

Delhivery signals a potential trend reversal. This week the stock’s movement confirmed an uptrend. The increased volume over the last two weeks highlighted robust buyer interest. Investors can consider a long position in Delhivery as long as it holds above 320, with an upside target of 500-600.

Shree Cement

Shree Cement is now running its first impulsive wave, signalling the start of a new uptrend. A long position can be initiated in Shree Cement as long as it stays above 25,680, with an upside target of 32,000, followed by 36,000.

Bajaj Finance

Bajaj Finance saw an increase in volume indicating strong buying interest at the current level. A long position can be initiated in Bajaj Finance with a stop-loss at 6,800, with an upward target of 7,650-8,230.

(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.)