Stocks to Buy Today: Rajesh Palviya of Axis Securities Recommends Deepak Nitrite, Macrotech 

Developers, Suzlon Energy

As the market battles volatility and global cues remain uncertain, seasoned investors and retail participants alike are turning to expert technical analysis for short-term and positional trade ideas. In today’s session, Rajesh Palviya, the Head of Technical and Derivatives Research at Axis Securities, shared his top three stock picks for the day: Deepak Nitrite, Macrotech Developers, and Suzlon Energy.

These recommendations are rooted in strong technical setups, supported by volume activity and trendline formations. Here’s a detailed breakdown of why each of these counters has made it to the expert’s radar, along with key levels to watch and target zones.

1. Deepak Nitrite (NSE: DEEPAKNTR)

 Technical Outlook

Deepak Nitrite has seen a strong uptrend recently and is trading near its multi-month breakout zone. The stock has given a decisive breakout above ₹2,420, confirming bullish continuation on the daily charts.

 Key Levels

• Current Market Price (CMP): ₹2,435

• Resistance Zone: ₹2,480 – ₹2,500

• Support Zone: ₹2,390

• Stop Loss: ₹2,365 (closing basis)

• Target Price: ₹2,550 – ₹2,600 in the near term

 Why It’s a Buy

• Breakout from consolidation with above-average volumes

• RSI near 65, indicating healthy strength without being overbought

• Sustaining above 20-Day EMA and forming higher highs, higher lows

 Time Horizon

• Short-term to Positional (1–2 weeks)

2. Macrotech Developers (NSE: LODHA)

 Technical Outlook

Macrotech Developers, also known by its brand name LODHA, has recently rebounded sharply from its 200-day EMA and crossed above a crucial trendline resistance at ₹1,230, signaling the end of a correction phase.

 Key Levels

• CMP: ₹1,245

• Breakout Zone: ₹1,230

• Target Zone: ₹1,310 – ₹1,340

• Stop Loss: ₹1,200 (closing basis)

 Why It’s a Buy

• Strong real estate sector tailwinds and technical recovery

• Bullish crossover on MACD; RSI trending upward above 55

• Positive divergence observed on daily and hourly charts

• Attractive risk-to-reward at current levels

 Time Horizon

• Positional (2–4 weeks)

3. Suzlon Energy (NSE: SUZLON)

 Technical Outlook

Suzlon has been a favorite among momentum traders due to its explosive upward moves in recent months. After some healthy profit-booking, the stock has consolidated and is now preparing for another upward leg.

 Key Levels

• CMP: ₹47.80

• Support Zone: ₹46

• Resistance Zone: ₹50 – ₹52

• Stop Loss: ₹44.90 (closing basis)

• Target Price: ₹54 – ₹58

 Why It’s a Buy

• Formed a base around ₹46 with bullish engulfing candle pattern

• Significant increase in delivery volume last session

• RSI back above 60, suggesting regained momentum

• Long-term trend remains bullish, supported by broader renewable energy narrative

 Time Horizon

• Swing trade (5–10 trading sessions)

Expert Commentary by Rajesh Palviya

“Markets are currently trading with a mix of consolidation and selective breakout patterns. In this backdrop, it is critical to focus on stocks showing relative strength, forming technical breakouts, and enjoying sectoral tailwinds. Deepak Nitrite is showing strong institutional interest, Macrotech has completed a bottom formation, and Suzlon is resuming its long-term uptrend after consolidation,” says Rajesh Palviya.

Broader Market View

Indian equity indices have been under pressure due to global inflation concerns and uncertain Fed commentary. However, selective buying in midcaps and sector leaders is providing opportunities for short-term gains.

The Nifty 50 is struggling near the 22,000 zone, and Bank Nifty continues to underperform. In such a market, stock-specific breakouts like those mentioned above present favorable risk-reward setups.

Risk Factors to Consider

Before taking any of the above positions, traders should evaluate:

• Market-wide volatility from geopolitical or macroeconomic shocks

• Sector-specific risks, especially in real estate and renewable energy

• Sudden reversal signals on technical charts like Doji, Shooting Star, or breakdowns below moving averages

• Global cues including crude prices, US yields, and FII flows

Pro Tips for Traders

• Use trailing stop losses once the stock starts moving in your direction

• Avoid chasing gap-ups; wait for minor pullbacks for better entry

• Review volumes along with price movement – breakouts without volume can be traps

• Don’t go all-in; allocate capital based on risk appetite and conviction

Technical Snapshot Summary

Smart Technical Picks for a Choppy Market

With global uncertainties and rotational trends shaping market momentum, today’s picks from Rajesh Palviya of Axis Securities offer well-researched, high-conviction trades. Whether you’re a swing trader looking at Suzlon’s pattern or a positional investor riding the bounce in Macrotech, each recommendation is grounded in solid technical parameters and backed by market logic.

As always, manage your risk prudently, stick to your trading discipline, and let the charts guide you in navigating this market maze.

This article is for informational purposes only and should not be construed as investment advice. Please consult a certified financial advisor before making any investment decisions. Stock market investments are subject to market risk.