Stocks To Buy Today, Nov 13: Top 2 Picks By Riyank Arora of Mehta Equities For Profitable Trading On Thursday

Ahead of the results of the Bihar election, the Nifty index began the day with a significant gap-up and continued to rise throughout the session, indicating a significant improvement in market confidence and its third consecutive day of gains. The index formed a higher low and had a clear closing over the 25,800 level on Wednesday, rising 180.60 points to conclude at 25,875.80. The Nifty Bank index, on the other hand, rose 136.50 points to close at 58,274.65, creating a higher low and marking a clear closure over 58,000.

Nifty Outlook Today

"Nifty's structure continues to display strength, forming consistent higher lows and achieving a breakout above the previous week's high - a clear indication of renewed bullish momentum. The conversion of prior resistance levels into support zones further enhances the short-term technical outlook. However, persistent foreign portfolio investors (FPIs) outflows across both cash and futures segments over the past nine sessions inject a note of caution into the broader sentiment," said Dhupesh Dhameja, Derivatives Research Analyst, SAMCO Securities.

"While call writers remain active at higher strike levels, the aggressive put additions at lower bands reflect a tactical standoff between bulls and bears, keeping the near-term outlook positive yet range-bound. A sustained move above the 26,000 mark could ignite a stronger rally, whereas a decline below 25,650 may open the door to short-term weakness. Until a decisive breakout emerges, traders are advised to stay selective and adopt a disciplined approach, focusing on moves beyond the consolidation range for directional clarity," he added.

Bank Nifty Outlook Today

"The Nifty Bank index has successfully maintained its bullish gap, and despite minor intraday profit booking, it continues to trade above the neckline of its bullish flag formation - maintaining a constructive broader structure. Sustained buying interest above the 58,600 mark, which coincides with the previous all-time high, would further validate the continuation of bullish momentum in upcoming sessions," commented Dhupesh Dhameja.

"While call writers retain dominance at higher levels, the aggressive buildup of put positions at lower strikes indicates emerging buying interest, suggesting a gradual tilt toward accumulation. The setup reflects that while buyers are booking profits on rallies, sellers have not yet fully withdrawn from higher levels, keeping the index's near-term tone range-bound but with a positive bias," he stated.

"A decisive close above 58,600 will be pivotal to re-establishing strong bullish control and extending the upward leg of the rally. Until such a breakout occurs, the outlook remains neutral to mildly positive. However, a fall below 57,800 could trigger renewed selling pressure. Traders are advised to remain selective and disciplined, focusing on confirmed breakouts beyond the consolidation zone before taking directional positions in the sessions ahead," Dhupesh Dhameja further recommended.

Stocks To Buy Today

On Thursday, November 13, technical analyst Riyank Arora of Mehta Equities Ltd. recommended buying two stocks after Nifty's momentum indicators confirmed the upbeat tone. The 14-day RSI has remained above the 60 level, indicating rising short-term momentum.

Asian Paints

Buy | CMP: ₹2,769 | SL: ₹2,720 | Target: ₹2,850 / ₹2,900

Asian Paints has rebounded from its recent support zone and is showing signs of renewed strength. The stock is trading above its key short-term moving averages, and RSI is trending positively. Sustaining above ₹2,770 could drive further upside toward ₹2,850 and ₹2,900. Traders can initiate fresh longs while maintaining a stop-loss at ₹2,720 to protect profits.

TCS

Buy | CMP: ₹3,131 | SL: ₹3,070 | Target: ₹3,250 / ₹3,300

TCS remains in a firm uptrend, supported by consistent buying activity in the large-cap IT space. The stock's technical setup suggests continuation of bullish momentum with improving RSI levels. A breakout above ₹3,150 may lead to further gains toward ₹3,250 and ₹3,300. Traders may buy on dips with a stop-loss at ₹3,070 to manage downside risk.

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