Stocks To Buy Today, Nov 24: Top 2 Picks By Asit C. Mehta For Profitable Trading On Monday

With the Nifty gaining 0.61% to 26,068.15 and the Sensex rising 0.79% to 85,231.92 despite muted global signals and FIIs turning marginal buyers following weeks of continuous withdrawals, the Indian stock markets concluded the previous week on a high note. In addition to the November derivatives expiry, this week's domestic markets will monitor a number of significant macro announcements, including as Q2 GDP statistics, industrial production and forex reserves.

Nifty Outlook Today

"Nifty has formed a bear candle which mostly remained contained inside previous session range signaling consolidation amid weak global cues near the previous all-time high of 26277. Going ahead, a follow through strength above all time high (26277) will open further upside towards the 26,500 levels in the coming weeks. Failure to move above the same will lead to consolidation in the range of 26,277-25,700. Short-term support is placed around 25,500-25,700 range being confluence of the 50 days EMA and the recent breakout area. We believe dips should be used as a buying opportunity in quality large and midcap stocks," commented the technical research analysts of Bajaj Broking Market.

Bank Nifty Outlook Today

"Bank Nifty formed a bear candle with a lower high and lower low, highlighting profit booking at higher levels amid weak global cues. Earlier in the week, the index has registered a strong breakout above its four-week consolidation range of 57,300-58,600, reinforcing the overall positive bias. We expect the index to retain its positive momentum and move towards the 59,800 level in the coming week, based on the measuring implication of the recent range breakout. Meanwhile, the 58,300-58,000 zone is likely to act as a crucial support area, with the previous resistance now expected to serve as support," stated the technical research analysts of Bajaj Broking Market.

Stocks To Buy Today

Asit C. Mehta Investment Intermediates Ltd. recommended buying two stocks on Monday, November 24, in advance of this week's important data releases, including economic data like IIP and Q2FY26 GDP statistics that might affect the direction of the market.

Reliance Industries Limited

On the daily time frame, Reliance has witnessed a trend line breakout accompanied by healthy volumes, confirming bullish momentum. As per the breakout structure, if the stock continues to hold above the 21-DEMA support at ₹1,495, it may extend its rally towards ₹1,600-₹1,650 in the short term.

Hindustan Copper

Hindustan Copper, on the daily chart, has given a double-top pattern breakdown with volume, indicating weakness. As long as the stock remains below ₹322, further downside towards ₹302-₹290 remains likely.

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