Vinay Rajani of HDFC Securities recommends buying these two stocks today

Bank of Baroda's price has broken out from the downward sloping trend line on the daily chart. Stock price has risen with the jump in volumes.

Nifty formed a bullish candle on October 29 after forming triple bottom in the 24073-24140 band and closed at its highest in 5 sessions. Its indicators are giving positive signals.  The short term trend of Nifty seems to have turned bullish. Nifty could take support from the above band while on upmoves it can face resistance in the 24567-24694 band in the near term.

 

Buy Bank of Baroda (Rs 254): | Target Rs. 290| Stop-loss Rs 234

Stock price has broken out from the downward sloping trend line on the daily chart. Stock price has risen with the jump in volumes. Stock is placed above all important moving averages, indicating bullish trend on all time frames.  PSU Bank Index has started outperforming for last couple of trading sessions. Indicators and oscillators have turned bullish on the daily charts

 

Buy Karur Vysya Bank (Rs 221): | Target Rs. 269 | Stop-loss Rs 184

Stock price found support on upward sloping trend adjoining the lows of week ended 12 th May 2023 and 7 th June 2024.On week ended 18 th Oct 2024, stock broke out from the downward sloping trend line on the weekly charts, which indicates resumption of primary uptrend. Weekly stochastics oscillator has turned bullish.  Price breakout was accompanied by rise in volumes. Stock price has been forming higher tops and higher bottoms on the weekly charts.  (Vinay Rajani, senior technical and derivative analyst at HDFC Securities. Views expressed are his own.)