Best stocks to buy today, as recommended by NeoTrader’s Raja Venkatraman

Here are two stocks to buy today, as recommended by Raja Venkatraman of NeoTrader for Friday, 27 June.

Best stocks to buy today—27 June

WELENT: Buy CMP and dips to ₹520 | Stop: ₹510 | Target: ₹590-615

BAJFINANCE: Buy above ₹952 and dips to ₹915 | Stop below: ₹890 | Target: ₹1,040-1,085

The stock market on Thursday

Bulls dominated the final session of June’s derivatives expiry, powering markets to three straight wins and pushing benchmarks to levels unseen in nearly nine months. Driven by broad-based buying, the Nifty 50 surged past the 25,500 mark, while the Sensex climbed more than a thousand points. Buoyed by this momentum, benchmark indices closed at fresh highs, underscoring growing confidence among institutional and retail participants alike.

At close, the Sensex was up 1,000.36 points, or 1.21%, finishing at 83,755.87, and the Nifty rose 304.25 points, also 1.21%, to settle at 25,549.00. The rally extended beyond the headline stocks, with the BSE Midcap gauge advancing 0.5% and the smallcap index eking out a modest gain. This broad participation highlights how optimism has spread across market capitalizations, reinforcing the overall uptrend.

From the opening bell, buying interest remained steadfast. Heavyweights in metal, banking, and oil and gas led the charge, drawing fresh inflows as traders positioned for further upside. Shares of Tata Steel, HDFC Bank, and Reliance Industries were particularly strong, reflecting renewed faith in cyclical themes and financial resilience. Their rallies underpinned market breadth, with advancing issues significantly outnumbering decliners on both exchanges.

The Nifty Bank index reached a milestone, closing at an all-time high. Financial stocks have been in favour for weeks, as steady credit growth and benign asset-quality trends continue to brighten the sector’s outlook. Bullish derivative positioning in bank names—evident from rising open interest in call options—added fuel to the advance, highlighting traders’ willingness to bet on an enduring financial upswing.

Outlook for trading

Technically, the Nifty’s breakout beyond the upper boundary of its recent trading range marks a decisive turn. For days, the index had oscillated between roughly 25,200 and 25,450, frustrating breakout hunters. But yesterday’s close above that ceiling signals renewed trader confidence and a potential shift to a fresh up-leg. Chart watchers will note the bullish candlestick on the daily chart, coupled with rising volumes, as an encouraging sign that the rally has room to run.

Options market dynamics further reinforced the bullish narrative. Ahead of the monthly expiry, participants aggressively sold puts and unwound calls, effectively skewing the delta toward upside risk. This combination of put writing and call reduction indicates that hedgers were securing floors while letting upside exposure peel off, a classic setup for continued gains when spot prices climb—a phenomenon sometimes dubbed “bullish aggression”.

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The Nifty Spot is firmly above the consolidation zone that we have been mentioning. However, the median line resistance around 25,600 will be a key level to watch out for as we move ahead into the July series.

I prefer looking at Nifty Spot charts for short-term support that shifts to the 25,350-25,450 area, while resistance looms near 25,650. As we near the last trading day of the week, we should keep booking profits.

If the markets sustain this momentum, a run toward 26,000-26,200 becomes a realistic expectation for the coming weeks. For now, bulls are firmly in command, and positions aligned with this trend stand to benefit from the prevailing optimism.

Other indices must now play catch-up. Otherwise, what we saw on Thursday will get more tailwinds. A buy-on-dip market has now been initiated, and we have to take note of this fact as we head into the coming sessions.

Two stocks to trade on 27 June, recommended by NeoTrader’s Raja Venkatraman

Welspun Enterprises Ltd (Cmp 542.05)

WELENT: Buy CMP and dips to ₹520 | Stop: ₹510 | Target: ₹590-615

• Why Welspun is recommended: Welspun’sinvolvement in infrastructure projects like roads and water management and its solid Q4 performance indicate a revival in progress. This could be an opportunity to consider this stock as a buying opportunity.
• Key metrics
  • P/E: 23.95
  • 52-week high: ₹655
  • Volume: 730.56K
• Technical analysis: Support at ₹472; resistance at ₹580
• Risk factors: High volatility, negative investor sentiment, and long-term bearish trends
• Buy: dips to ₹520
• Target price: ₹590-615 in 1 month
• Stop-loss: ₹510

Bajaj Finance Ltd (Cmp 951.50)

BAJFINANCE: Buy above ₹952 and dips to ₹915 | Stop below: ₹890 | Target: ₹1,040-1,085

• Why Bajaj Finance is recommended: Bajaj Finance, a prominent player in the financial services sector, has faced headwinds due to rising asset quality concerns. But the Reserve Bank of India’s latest rate cut highlights the stock’s potential to move to the upside after weeks of profit-booking.
• Key metrics
  • P/E: 34.14
  • 52-week high: ₹978.59
  • Volume: 11.68 million
• Technical analysis: Support at ₹850; resistance at ₹1,225
• Risk factors: Rising asset quality concerns, particularly in its unsecured loans segment, and increasing regulatory scrutiny on non-banking financial companies.
• Buy above: ₹952 and dips to ₹915
• Target price: ₹1,040-1,085 in 1 month
• Stop-loss: ₹890

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.