MCX, BSE, Bharti Airtel shares: Top 3 stocks to buy; check expected returns, ratings, target price by market expert

Stock market news: The domestic benchmark indices, Sensex and Nifty 50, ended lower on Friday, snapping their three-session winning streak, as a sharp rise in retail inflation to 6.09% in October fuelled concerns over a possible RBI rate hike next month.

The 30-share BSE Sensex declined 318.56 points, or 0.39%, to close at 81,592.45. During the session, the index fell as much as 622.26 points, or 0.75%, to an intraday low of 81,288.75.

The Nifty 50 settled 155.05 points, or 0.61%, lower at 25,144.30.

Friday's decline marked the first significant fall in both benchmark indices this month.

Chandan Taparia, Head of Derivatives & Technicals, Wealth Management at Motilal Oswal Financial Services, has recommended buying three stocks — MCX, BSE and Bharti Airtel.

He has set a target price of ₹3,900 for MCX with a stop loss of ₹3,600. For BSE, the target is ₹4,170 with a stop loss of ₹3,820, while Bharti Airtel has a target of ₹2,230 and a stop loss of ₹2,040.

On the Nifty options front, Chandan Taparia, said the maximum call OI is at 25,200 then 25,500 strike while maximum put OI is at 25,000 then 25,100 strike.

“Call writing is seen at 25,200 then 25,100 strike while put writing is seen at 25,100 then 25,000 strike. Option data suggests a broader trading range in between 24,800 to 25,600 zones while an immediate range between 25,000 to 25,400 levels,” said Taparia.

Nifty 50 index opened on a negative note and attempted to reclaim and sustain above 25,200 in the first hour of the trade but failed to hold at higher levels. The index moved lower towards 25,050 zones in the second half where support based buying emerged, helping it recover from it’s day's low and move back above 25,100 zones. It remained rangebound for most of the session and formed a bearish candle on the daily frame, indicating some pause in the momentum despite support based buying intact at lower levels. On the weekly frame it formed a small bodied bullish candle and gave the highest closing of the last thirty five weeks.

“Now it has to cross and hold above 25,200 zones for an up move towards 25,350 then 25,450 zones while supports have shifted to 25,050 then 24,950 zones,” the MOFSL analyst added.

Bank Nifty index opened on a negative note and witnessed a brief bounce in the first hour towards 61250 zones. However the index failed to sustain at higher levels as profit booking emerged, dragging it towards 60800 zones. It formed a bearish candle with an inside bar on the daily chart, indicating a pause in the ongoing uptrend. On the weekly chart it formed a bullish candle keeping the broader trend positive.

“Now it has to hold above 61,000 zones for an up move towards 61,500 then its all-time high of 61,764 levels while support is seen at 60,750 then 60,500 zones,” said Taparia.

Chandan Taparia has recommended three stocks to buy this week. Taparia recommends buying MCX, BSE, and Bharti Airtel shares.

Stock is in an overall uptrend and is trading in its all-time high territory, indicating strong bullish momentum. It is trading comfortably above all its key moving averages and has been forming higher tops and higher bottoms over the last three weeks, highlighting sustained buying interest. The RSI is also inching higher, further supporting the positive price structure. The broader strength across capital market stocks could provide additional support and help the ongoing rally continue.

On Friday, MCX share price closed 2.93% higher at ₹3,725 apiece on the BSE.

Stock has been forming higher lows on the daily chart over the last few sessions, indicating that support levels are gradually shifting higher. It has formed a strong base around the 3500 zone and is now inching higher, highlighting improving buying interest. Volumes have also picked up over the last few sessions, suggesting increased participation and strengthening the positive price structure. Sustaining this momentum could support further upside in the coming sessions.

On Friday, BSE share price closed 0.73% higher at ₹3,937.70 per share on the NSE.

Stock has formed a bullish candle and is now on the verge of a fresh pole-and-flag breakout, indicating improving bullish momentum. A decisive move above the 2120 zone could trigger a sharp upmove towards its all-time high zone of 2150 and beyond. Sustained buying interest and a successful breakout could further strengthen the ongoing uptrend.

On Friday, Bharti Airtel share price ended 0.69% at ₹2,106.40 apiece on the BSE.

Dhanya Nagasundaram works as a Content Producer at LiveMint, specializing in news related to financial markets, stocks, and business. With over eight years of experience in journalism and content creation, she has honed her skills in data-driven reporting and market analysis. Her focus is on monitoring stock trends, initial public offerings (IPOs), corporate news, policy shifts, and larger economic trends that affect investors and market players. <br><br> At LiveMint, Dhanya consistently writes and produces articles that make complex financial topics accessible to readers. She keeps a close eye on equity markets, commodities, and macroeconomic indicators, assisting audiences in comprehending how global and domestic events influence investment perspectives. Her stories frequently underscore emerging trends within sectors, the IPO market, company earnings results, and market strategies pertinent to both retail and institutional investors. <br><br> Before her tenure at LiveMint, Dhanya accumulated a wealth of professional experience at various companies, including MintGenie, Informist, Cogenics, Chary Publications, KPMG, and the Royal Bank of Scotland. These positions allowed her to establish a solid foundation in financial research, reporting, and content creation. <br><br> Throughout her career, she has explored numerous subjects such as trading strategies, commodities, IPOs, wealth generation, corporate profits, and macroeconomic indicators. Her background in both financial journalism and corporate settings has given her the ability to tackle stories with analytical rigor while ensuring clarity for her audience. Through her contributions, Dhanya strives to deliver insightful, trustworthy, and investor-centric financial content.

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HomeMarketsStock MarketsMCX, BSE, Bharti Airtel shares: Top 3 stocks to buy; check expected returns, ratings, target price by market expert

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