Stock market recommendations: According to Bajaj Broking Research, Aurobindo Pharma, and Gokaldas Exports are the top stock picks for today. Here’s its view on Nifty, Bank Nifty and the top stock picks for May 30, 2025:Index View: NIFTYBenchmark indices extended consolidation for the second week in a row amid stock specific action. Nifty is seen consolidating in the range of 24,400-25,200. Despite facing multiple global macroeconomic and geopolitical headwinds — including heightened geopolitical tensions, persistent global trade tariff uncertainties, and elevated U.S. bond yields — the Indian equity market continues to exhibit a resilient upward bias. The benchmark Nifty 50 index has sustained its positive trajectory and is now placed around the 24,800 level.From a short-term technical perspective, the market sentiment remains constructive. The index is expected to find strong demand in the support zone of 24,400–24,500. As long as this key support range is held, we anticipate the Nifty 50 to continue its bullish momentum towards the resistance at 25,200-25,300 levels in the short term. Short-term support for Nifty is placed at 24,400–24,500 levels being confluence of 20 days EMA, previous breakout area and the last 2 weeks lows. While on the higher side 25,200-25,300 remains a key hurdle area being the previous major high and 80% retracement of the entire decline (26.277-21,744).Factors that support the positive momentum in the market 1) Rate cut expectations in the monetary policy outcome (2) Above normal Monsoon Forecast by the Indian Meteorological Department (IMD) (3) Brent crude prices have remained in a downward trajectory, offering a major tailwind to the Indian economy, which is a net importer of crude.NIFTY BANK
- Bank Nifty continues to consolidate in the broad range of 56,000-53,500 in the last 5 weeks.
- A key technical observation on the daily chart is that the index has already taken 26 sessions; it has retraced just 38.2% of the prior 9-session rally (49,157–56,098), indicating a shallow pullback that suggests underlying strength and potential higher bottom formation.
- We expect the index to extend the last 5 weeks’ consolidation in the range of 53,500-56,000. Only a move above 56,000 levels will signal acceleration of the up move towards 56,700 levels in the coming sessions.
- Within consolidation we believe dips should be used as a buying opportunity. Key support placed at 54,000-53,500 as it is the confluence of the lower band of the last 5 weeks range, key retracement and 50 days EMA.
Stock Recommendations:Aurobindo PharmaBuy in the range of Rs 1155-1175
The stock is rebounding taking support at the rising trendline support joining lows of the last 3 months signaling buying demand at lower levels.The daily stochastic is rebounding from the oversold territory and has generated a buy signal moving above its three periods average thus validates positive bias. We expect the stock to head towards 1278 levels in the coming months being the 80% retracement of the previous decline (1356-1010) and the high of April 2025.Gokaldas ExportsBuy in the range of Rs 960-980
The stock is witnessing buying demand from the previous major breakout area and the confluence of 20- & 50-days EMA signaling strength and offers fresh entry opportunity. It is currently trading above the short- and long-term moving averages signaling strength and overall positive bias.The daily stochastic is rebounding from the oversold territory and has generated a buy signal moving above its three periods average thus validates positive bias. We expect the stock to head towards 1090 levels in the coming months being the 123.6% external retracement of the previous decline (1060-925). Disclaimer: The opinions, analyses and recommendations expressed herein are those of brokerage and do not reflect the views of The Times of India. Always consult with a qualified investment advisor or financial planner before making any investment decisions.
