Stocks to buy today, Dec 11: Eicher, ICICI Pru Life among analyst top picks

Market View

Markets remained volatile and ended lower, extending the cautious sentiment ahead of the US Federal Reserve’s policy outcome. After a brief positive start, the Nifty index gradually drifted lower through the session and finally closed near the day’s low at 25,758, down 0.32 per cent. Sectoral performance broadly aligned with the benchmark trend, with IT, financials, and realty leading the decline, while metal and pharma managed to end marginally higher. Meanwhile, the broader indices resumed their corrective phase after a day’s pause, losing nearly a per cent each.

 

With all eyes on the US Fed, participants expect a 25-bps rate cut, while the key focus will be on the 2026 dot-plot guidance. Additionally, updates from the India–US trade discussions in New Delhi will remain in the spotlight.

 

The recent slide, following Friday’s RBI-driven rally, has weakened the short-term sentiment, and we now view 25,650 as the next critical support. A decisive break below this level could further widen the consolidation range, with the next major support at the 25,400 level. On the upside, the 20-DEMA, placed around 25,950, now acts as the immediate hurdle, and only a sustained move above this zone may help improve the near-term bias.

 

Until clarity emerges, we recommend maintaining a stock-specific trading approach, with buying opportunities in private banks, autos, and metals, while also keeping selective short positions as a hedge against potential downside risk.

Stocks to Buy Today - Recommendations by Ajit Mishra, Religare Broking

Eicher Motors | LTP: ₹7,228.50 | Recommendation: Buy | Target: ₹7,900| Stop-loss: ₹7,050 

 

We are seeing a steady uptrend in the auto space, and Eicher Motors continues to trade at fresh all-time highs, reflecting strong and sustained momentum. It has displayed a robust structural setup, marked by a sharp advance since July 2025 and a consistent formation of higher highs and higher lows. After its swift rally, it entered a brief, low-volume consolidation phase, forming a stable elevated base near its short-term moving averages. Each consolidation has been absorbed quickly, followed by renewed buying interest, reinforcing the ongoing bullish trend and indicating further upside potential. Traders may consider long positions even in the current volatile market environment, as the stock continues to show remarkable stability.

 

ICICI Prudential Life Insurance Company | LTP: ₹ 642.85 | Recommendation: Buy | Target: ₹705 | Stop-loss: ₹612

 

ICICI Prudential has broken out of a broad five-month consolidation phase, establishing a strong base above its 200 WEMA. This breakout is supported by healthy buying interest and a strong recovery above key short-, medium-, and long-term moving averages on the daily chart. The RSI has also turned positive with a bullish crossover, adding conviction to the uptrend. The consolidation pattern resembles an inverted head-and-shoulders formation, typically indicative of a trend reversal and the start of a sustained upward move. Given this favourable technical setup, long positions may be considered within the recommended range.

 

Kalyan Jewellers India | LTP: ₹461.15 | Recommendation: Sell Futures | Target: ₹438 | Stop-loss: ₹473

Kalyan Jewellers has been trading in a corrective phase since the beginning of the year, with no meaningful signs of reversal yet. Although the stock attempted multiple rebounds over the past four months, it consistently failed to surpass the resistance of its long-term moving average—the 200-day DEMA. Following the latest failed attempt, the stock has witnessed a fresh breakdown, forming a clear shorting pivot. The decline is accompanied by rising volumes, reinforcing the prevailing bearish sentiment. The RSI also signals sustained downward momentum. With the bearish structure intact, the stock is likely to extend its corrective trend, making it a suitable candidate for short positions.  (Disclaimer: This article is by Ajit Mishra, SVP – research, Religare Broking. Views expressed are his own.)