Stocks To Buy Today, Oct 27: Top 2 Picks By Riyank Arora of Mehta Equities For Profitable Trading On Monday

With the Sensex rising 0.31% to close at 84,211.88 the previous week and the Nifty rising 0.33% to conclude at 25,795.15, markets closed the festive-shortened week on a somewhat upbeat note as they continued their winning run for the fourth consecutive week. This week will see a number of significant macroeconomic data releases and earnings announcements. The September Industrial Production data is scheduled for publication on October 28, and on October 29, attention will turn to the U.S. Federal Reserve's policy decision. Kotak Mahindra Bank will be the main focus after the earnings announcement, along with IOCL, Adani Energy Solutions, Mazagon Dock Shipbuilders, Tata Investment Corporation, and other corporations that will release their Q2 results today.

Nifty Outlook Today

"Nifty on the weekly chart has formed a high wave candle with a higher high and higher low signaling consolidation amid stock specific action after the recent sharp up move. Nifty Following a sharp 1,500-point rally over the past four weeks, the stochastic oscillator on both daily and weekly charts has entered the overbought zone, indicating the likelihood of a short-term consolidation at higher levels as can be seen in last two sessions. We anticipate the index to trade within the 25,600-26,100 range to cool off overbought conditions, while a decisive break above 26,100 could open the door for an up move toward 26,500 in the coming weeks. On the downside, the 25,500-25,700 zone is expected to act as a strong support area, backed by the 38.2% Fibonacci retracement of the recent rally (24,587-25,782) and the previous breakout zone. Any dips toward this range can be viewed as buying opportunities," said the research analysts of Bajaj Broking.

Bank Nifty Outlook Today

"Bank nifty on the weekly chart has formed a high wave candle with a higher high and higher low signaling consolidation amid stock specific action after the recent sharp up move. Going forward, the index is expected to consolidate with positive bias, with immediate supports placed at 57,300-57500 levels being the last week breakout area and a stronger demand zone is seen near 56,800-56,500 levels. On the higher side, resistance is placed around 58500 and 59000 levels being the 138.2% retracement of the entire previous decline (57628-53561). From an oscillator perspective, the Stochastic indicator has reversed upward and is nearing the overbought territory, suggesting a possible phase of consolidation with a positive undertone," commented the research analysts of Bajaj Broking.

Stocks To Buy Today

On Monday, October 27, Mehta Equities Ltd's technical analyst Riyank Arora recommended buying two stocks.

Hindustan Copper

Buy | CMP: Rs 343 | SL: Rs 325 | Target: Rs 370 / Rs 390

Hindustan Copper is witnessing renewed accumulation near its support levels, backed by improved trading volumes. The stock structure remains bullish with an upward bias as long as it holds above ₹325. A sustained move above ₹343 could push prices toward ₹370 and ₹390. Traders can consider buying with a stop-loss at ₹325 for protection.

Intellect Design Arena

Buy | CMP: Rs 997 | SL: Rs 960 | Target: Rs 1,050 / Rs 1,090

Intellect Design has maintained strong upward momentum after a brief consolidation phase. The stock continues to attract investor interest with steady volume build-up and bullish RSI signals. Holding above ₹997 could lead to further upside toward ₹1,050 and ₹1,090. Traders may consider initiating fresh longs with a stop-loss at ₹960 to safeguard against volatility.

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