Stocks to buy today, June 2: Here are two stocks recommended by analyst

Stocks to buy today: Analyst at Angel One recommends biuying this pharma and life insurance-related stock today; check target, stop-loss

Stocks to buy today:

NSE Scrip – HDFCLIFE

View - Bullish

Last Close – ₹777

The stock had been in a consolidation phase for the past four years, with the ₹750–₹760 zone acting as a strong resistance on two prior occasions. This key hurdle has now been decisively breached, confirming a long-term breakout. Volume analysis supports the move, as strong buying interest is evident during upswings, while downswings are accompanied by lower volumes, highlighting underlying strength in the counter. In recent times, prices have been trending steadily higher, with dips consistently finding support near the 20 DEMA. This suggests that buying interest remains intact, and we expect the positive momentum to continue.

Hence, we recommend to 'Buy' HDFCLIFE around ₹777 - ₹770 | Stop-loss: ₹751 | Target: ₹830 

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NSE Scrip – WOCKPHARMA

View - Bullish

Last close – ₹1,465

After forming a base near the 200DSMA, the stock has witnessed a sharp rebound and recently broken out of a symmetrical triangle pattern. This breakout is backed by a significant surge in volume, confirming a price–volume breakout. Furthermore, the stock has closed above all key moving averages, reinforcing the overall bullish sentiment. The momentum oscillator RSI has also crossed above 60, indicating strengthening positive momentum.

 

Hence, we recommend to 'Buy' WOCKPHARMA around ₹1,465 - ₹1,460 | Stop-loss: ₹1,390| Target: ₹1,600  (Disclaimer: This article is by Rajesh Bhosale, equity technical analyst, Angel One Ltd. Views expressed are his own.)