Ruchit Jain of Motilal Oswal picks stocks to buy today for near-term upside

Stocks to Buy Today: BHEL share price has formed a 'Bullish Engulfing' pattern on the daily chart. The upmove in BHEL share has seen good volumes

Stocks to Buy Today, Jan 30, 2025:

Buy BEL | CMP: Rs 267 | Stop Loss: Rs 255 | Share price target: Rs 287 

Bharat Electronics share price has recently corrected along with the broader markets but is now trading around its support zone. The RSI on the daily chart is hinting at a positive divergence which is sign of a probable short term pullback. 

Buy BHEL | CMP: Rs 200 | Stop Loss: Rs 188 | Share price target: Rs 220 

BHEL share price has formed a ‘Bullish Engulfing’ pattern on the daily chart. The upmove in BHEL share has seen good volumes while RSI has formed a higher low, hinting at a positive divergence. Hence, we expect a short term pullback move in BHEL stock. Traders can look for buying opportunities as the risk reward ratio is favorable. 

Buy UPL | CMP: Rs 556 | Stop Loss: Ra 530 | Share price target: Rs 600

UPL stock has recently seen a consolidation phase above its key 200 DEMA support and has shown a relative outperformance in the recent corrective phase of the market. UPL share price is on the verge of a breakout above this consolidation and hence, we advise traders to buy for the short term.

 

=====================

Disclaimer: Ruchit Jain is head of equity technical research, wealth management at Motilal Oswal Financial Services. Views expressed are his own.