Stocks To Buy Today, Nov 10: Top 2 Picks By Riyank Arora of Mehta Equities For Profitable Trading On Monday

The Nifty index continued its downward trend on Friday, closing at 25,492.30, down 17.40 points from the previous day's low and close to the critical 25,500 level. Amidst periods of profit booking, the Nifty index briefly recovered from its intraday low, displaying early indications of base building close to its confluence support zone at 25,350. Amid profit booking, the Nifty Bank index saw a little recovery from its intraday lows, suggesting the formation of a temporary base close to its critical support range of 57,300-57,500.

The index made a strong comeback on Friday, rising 322.55 points to close at 57,876.80. However, the index is still just slightly below the crucial psychological threshold of 58,000. Upcoming domestic inflation data, FII flows, developments around the U.S. government shutdown, and the status of trade talks between the U.S., China, and India will all influence market direction amid the ongoing Q2 season.

Nifty Outlook Today

"The index has shown a mild recovery, hinting at the formation of a temporary base near its strong support zone, though confirmation of a bullish reversal remains pending. The ongoing pattern of lower highs and lower lows, coupled with persistent FPI selling over the past five sessions in both cash and futures segments, continues to reinforce a bearish undertone," said Dhupesh Dhameja, Derivatives Research Analyst, SAMCO Securities.

"While call writers dominate higher strikes, an aggressive buildup of put positions at lower levels signals an emerging balance between bulls and bears, keeping the near-term outlook neutral to range-bound. A decisive move above 25,700 will be critical to rekindle bullish momentum. Until then, the broader tone remains cautious, and a breach below 25,350 could accelerate further downside. Traders are advised to remain vigilant and disciplined, focusing on breakouts from the current consolidation zone while maintaining a cautious trading stance in the near term," Dhupesh Dhameja stated.

Bank Nifty Outlook Today

"The Nifty Bank index's recent rebound suggests a temporary base formation near its strong support zone, yet a convincing revival of bullish momentum remains absent - keeping the broader technical outlook neutral. The recurring rejections from higher levels, coupled with the sustained lower-high formation, emphasize underlying bearish undertones. While call writers dominate at upper strikes, the aggressive addition of puts at lower levels indicates emerging accumulation by buyers, hinting at a gradual shift toward equilibrium," commented Dhupesh Dhameja.

"Overall, the setup suggests that sellers continue to sell on rallies, while buyers are selectively accumulating at lower zones, keeping the near-term trend range-bound. A decisive close above 58,200 will be pivotal to reignite bullish momentum. Until then, the outlook remains neutral to mildly cautious, and a breakdown below 57,400 could trigger renewed selling pressure. Traders are advised to stay patient and disciplined, monitoring breakouts on either side of the range before committing to directional trades in the coming sessions," Dhupesh Dhameja further added.

Stocks To Buy Today

Technical expert Riyank Arora of Mehta Equities Ltd. recommended buying two stocks on Monday, November 10, after the Nifty recorded a weekly loss of 0.89%, indicating a pause after recent gains.

Dr. Reddy's Labs

Buy | CMP: 1206 | SL: 1170 | Target: 1260 / 1300

Dr. Reddy's continues to trade with a positive bias, supported by firm volume and steady momentum on the daily chart. The stock has immediate support at 1170 and could move higher if it sustains above 1200. A decisive move above 1210 may fuel upside toward 1260 and 1300.

Max Healthcare

Buy | CMP: 1128 | SL: 1100 | Target: 1160 / 1185

Max Healthcare remains in a strong uptrend, consistently forming higher highs and higher lows. The stock is supported by healthy RSI readings and sustained buying interest. Holding above 1120 could push it toward 1160 and 1185 in the short term. Traders can continue to hold or add on dips, keeping a stop-loss at 1100.

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