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Stock market recommendations: According to Bajaj Broking Research, Kiri Industries and HFCL are the top stock picks for today. Here’s its view on Nifty, Bank Nifty and the top stock picks for May 16, 2025:Index View: NiftyIndian markets witnessed a strong up move during the current week with benchmark indices gaining more than 4% in the last 4 sessions. Key factors driving the Monday’s rally included: (A) A ceasefire agreement between India and Pakistan, (B) Renewed optimism around the US-China trade deal, (C) An early forecast for the southwest monsoon, expected to arrive in Kerala by May 27, earlier than the usual June 1 onset, (D) News of upcoming Russia-Ukraine peace talks scheduled for May 15.Market started the week on a strong note and generated a breakout above 12-sessions consolidation range (24,589–23,848), indicating resumption of up move. The Index witnessed some profit booking on Tuesday around the phycological levels of 25,000 and gave up some of its gains to test the breakout area of 24,500 on Wednesday. Nifty, however, resumed its up move on the weekly expiry session and formed a fresh weekly high of 25,116 on Thursday session.We expect the index to maintain overall positive bias with immediate hurdle placed around 25,200-25,300 levels being the 78.6% retracement of the entire decline (26,277-21,744) and the measuring implication of the recent range breakout.A sustained breakout above the 25,300 levels will open further upside towards 25,750 in the coming weeks. The recent breakout area of 24,500-24,400 is likely to act as key support going forward which also coincides with the recent breakout area and key retracement area.NIFTY BANK
- Bank Nifty continues to consolidate in the broad range of 56,000-53,000 in the last 15 sessions.
- Key observation is that the index has taken 15 sessions to retrace 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
- The overall Bank Nifty structure is positive and dips should be used as a buying opportunity. We expect the index to head towards 56,400 levels in the short term, being the 123.6% external retracement of the recent breather (56194-53585).
- The daily stochastic remains in uptrend sustaining above its nine periods average highlighting strength and supports positive bias. Key support for the short-term point of view is placed at 54,500- 54,000 being the confluence of the Monday’s gap area and 20-day EMA.
Stock Recommendations:Kiri IndustriesBuy in the range of Rs 620.00-640.00
The stock is currently at the cusp of generating a breakout above the last 4 months triangular consolidation pattern signaling resumption of up move and offers fresh entry opportunity.The stock is sustaining above the 50- and 200-days EMA and the base of the recent consolidation is placed at the 200 days signaling strength and positive bias.The 14 periods RSI in the daily chart is seen sustaining above its nine periods average thus validates positive bias in the stock. We expect the stock to head higher towards 730 levels in the medium term being the 123.6% external retracement of the recent breather (699-484).HFCLBuy in the range of Rs 88-91
The stock is currently trading significantly above its short-term and medium-term exponential moving averages (21-EMA and 50-EMA), which are positioned at ₹81 and ₹83 respectively—signaling underlying strength. Following a brief phase of consolidation, the counter has validated a double bottom breakout on the daily chart, projecting an upside potential towards ₹105 (~17%). Additionally, a breakout above the descending trendline resistance further corroborates the bullish trend reversal, suggesting renewed momentum and a shift in market structure.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.
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