Stocks to buy: City Union Bank, Sunteck Realty among top picks by analyst

Here's your Nifty trading strategy for May 21; Check out target and stop-loss of recommended stocks

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Nifty view:

Nifty fell for the third consecutive session with a loss of 261 points or 1.05 per cent to close at 24,683. Nifty Midcap100 and Smallcap100 indices closed on a weak note with a bearish “Engulfing” candlestick pattern on the daily chart. The breadth of the market turned weak with Nifty closing below its 5-day EMA for the first time after 8th May 2025. Indian Market seems to have entered the profit booking phase. 

 

Next, supports for the index are seen at 24,494 and 24,378. On the upside, the 24,800-24,900 band could offer resistance.  Follow Stock Market LIVE Updates Today

Stock recommendations: 

Buy CUB CMP: ₹194 | Target: ₹218 | Stop-loss ₹170

The City Union Bank stock has broken out from a symmetrical triangle on the weekly chart. The stock price is hovering near its 52-week and all-time highs. Stock is placed above all important moving averages. Weekly RSI is placed above 50, indicating a sustainable up trend. Weekly MACD is placed above the equilibrium and signal line. The stock price has started forming a higher top and higher bottom on the daily chart.

Buy Sunteck Realty | CMP: ₹417 | Target: ₹450 | Stop-loss: ₹399

The Sunteck Realty stock price surpassed the crucial resistance of 50 days EMA. The stock price has also taken out the previous swing high resistance, which confirms the bullish reversal after a small consolidation. Daily RSI is placed above 50, indicating a sustainable up trend. Daily MACD is also placed above the signal and equilibrium line.  ALSO READ | Nifty outlook; ONGC, GAIL among Chandan Taparia's top stock picks on May 21  (Disclaimer: This article is by Vinay Rajani, senior technical and derivative analyst at HDFC Securities. View expressed are his own.)