Rajesh Palviya of Axis Sec suggests Paytm, Anand Rathi, Nykaa shares to buy today

Indian benchmark indices opened higher on Friday, supported by strong gains in information technology stocks after Tata Consultancy Services (TCS) reported better-than-expected June-quarter revenue. Softer crude oil prices and easing concerns over a broader escalation in the US-Iran conflict also lifted investor sentiment.

At around 9:15 IST, the Nifty 50 advanced 0.68% to 24,124.70, while the BSE Sensex climbed 0.85% to 77,395.63.

The Nifty IT index emerged as the top sectoral gainer, rising 2.1%, led by a 3% rally in TCS after the country's largest IT services company surpassed quarterly revenue estimates, aided by stronger demand from banking clients and the benefit of a weaker rupee.

Market breadth remained positive, with all 16 major sectoral indices trading in the green. The broader markets also participated in the rally, with both the Nifty Midcap and Nifty Smallcap indices gaining around 0.7% each.

Meanwhile, Brent crude edged up to around $76.5 per barrel after falling 2.2% in the previous session. Investors also drew comfort from signs that diplomatic engagement between the US and Iran was continuing, after a US official said Washington remained committed to resolving tensions through ongoing technical-level talks despite the recent exchange of military strikes.

The Nifty 50 continues to exhibit a constructive undertone despite intermittent profit booking, indicating that the broader uptrend remains intact. Market breadth suggests stock-specific opportunities are likely to continue. From a near-term perspective, 24,250-24,200 is expected to act as an immediate resistance zone, while 23,900-23,800 are likely to act as immediate support. As long as the index sustains above these levels, the "buy on dips" strategy remains favourable. Traders should closely watch price action around these key levels, as a breakout from the ongoing consolidation could determine the next directional move for the benchmark index.

With the price movement over the past couple of sessions, the stock has decisively surpassed the "multiple resistance" zone of 1228 on a closing basis, accompanied by rising volumes indicating a strong comeback of bulls. The daily and weekly "Bollinger Band" buy signal indicates increased momentum. The daily, weekly and monthly Relative Strength Index (RSI) is in favourable territory, indicating rising strength across all time frames. The stock is well placed above its 20, 50, 100 and 200-day simple moving averages (SMAs). These averages are also inching up along with the price rise, which reconfirms the bullish trend.

Investors should consider buying, holding, and accumulating this stock. Its expected upside is 1320-1350, and its downside support zone is the 1230-1200 levels.

The stock is in a strong uptrend across all the time frames, forming a series of higher tops and bottoms. The stock is well placed above its 20, 50, 100 and 200-day simple moving averages (SMAs). These averages are also inching up along with the price rise, which reconfirms the bullish trend. The daily, weekly and monthly Relative Strength Index (RSI) is in favourable territory, indicating rising strength across all time frames.

Investors should consider buying, holding, and accumulating this stock. Its expected upside is 2150-2200, and its downside support zone is the 2060-2010 levels.

The stock is in a strong uptrend across all the time frames, forming a series of higher tops and bottoms. The weekly and monthly "Bollinger Band" buy signal indicates increased momentum. The stock is well placed above its 20, 50, 100 and 200-day simple moving averages (SMAs). These averages are also inching up along with the price rise, which reconfirms the bullish trend. The daily, weekly and monthly Relative Strength Index (RSI) is in favourable territory, indicating rising strength across all time frames.

Investors should consider buying, holding, and accumulating this stock. Its expected upside is 340-365 and its downside support zone is the ...