Stocks to buy: Nagaraj Shetti recommends LIC, RACL Geartech shares to buy in the short-term

Stock market news: Indian benchmark indices traded marginally higher on Thursday, as gains in information technology stocks offset weakness in select financial counters following their quarterly earnings. However, persistent geopolitical tensions in the Middle East continued to cap investor risk appetite.

The Nifty 50 rose 0.30% to 24,153, while the BSE Sensex advanced 0.38% to 77,478.49 at 11:58 IST.

Investor sentiment remained cautious after the United States carried out fresh strikes on Iran's coastal defence and missile sites following the reimposition of a naval blockade on Iranian ports. In response, Tehran warned it could further disrupt regional energy exports, describing the conflict as an "existential war" with Washington.

Meanwhile, Brent crude hovered around $85 per barrel, extending gains for a fourth consecutive session and keeping concerns over inflation and India's import bill in focus.

Market participants expect Indian equities to remain range-bound in the near term unless crude oil prices witness a sharp move. Analysts believe stock-specific action driven by the ongoing June-quarter earnings season, along with the progress of the southwest monsoon, will remain the key triggers for the market in the coming sessions.

Nifty 50 continued to show choppy movement with positive bias so far today and is currently trading higher by 45 points. Nifty 50 has been hovering within a narrow high-low range of around 24,200-24,000 levels over the last few sessions. The present market action seems to be on the back of rising

Geo-Political tension, rising International Crude Oil prices and the recent depreciation of INR against USD. The overall trend of Nifty 50 is range-bound with positive bias. A sustainable move above the upper range of 24,200 could open a breakout in the market. However, immediate support is placed at 24,000, which is followed by 23,800 levels for the near term.

LIC share price has been moving in a range bound action near the crucial hurdle. Expected to breakout sharply above the consolidation movement around ₹445-450 levels shortly. Daily and weekly RSI is showing positive indication.

The sharp upmove in the RACL Geartech share price so far this week has placed near the breakout point of a larger consolidation pattern around ₹1425 levels. Bullish higher tops and bottoms is observed as per long term charts. Volume pattern and daily RSI is showing positive indication.

Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.

Dhanya Nagasundaram works as a Content Producer at LiveMint, specializing in news related to financial markets, stocks, and business. With over eight years of experience in journalism and content creation, she has honed her skills in data-driven reporting and market analysis. Her focus is on monitoring stock trends, initial public offerings (IPOs), corporate news, policy shifts, and larger economic trends that affect investors and market players. <br><br> At LiveMint, Dhanya consistently writes and produces articles that make complex financial topics accessible to readers. She keeps a close eye on equity markets, commodities, and macroeconomic indicators, assisting audiences in comprehending how global and domestic events influence investment perspectives. Her stories frequently underscore emerging trends within sectors, the IPO market, company earnings results, and market strategies pertinent to both retail and institutional investors. <br><br> Before her tenure at LiveMint, Dhanya accumulated a wealth of professional experience at various companies, including MintGenie, Informist, Cogenics, Chary Publications, KPMG, and the Royal Bank of Scotland. These positions allowed her to establish a solid foundation in financial research, reporting, and content creation. <br><br> Throughout h...