India’s market trends on Thursday remained caught in a time warp as the trends remained challenged at higher levels. Despite best efforts, the market is unable to move higher. However, one thing is certain: there is not much interest to go lower. This is a positive sign for the coming month.
Here are three stocks to buy or sell as recommended by Raja Venkatraman of NeoTrader for Friday, 30 May.
Best stocks to buy today
DEEPAKFERT: Buy dips to ₹1,500 | Stop: ₹1,450 | Target: ₹1,625-1,675
TDPOWERSYS: Buy above ₹170 and dips to ₹165 | Stop below: ₹162 | Target: ₹180-185
MARKSANS: Buy above ₹727 and dips to ₹700-705 | Stop: ₹690 | Target: ₹777-797
The stock market on Thursday
Indian stocks rebounded on Thursday, 30 May, tracking gains in global markets after a US trade court ruled against US President Donald Trump’s tariffs on imports from the US’s trading partners. The decision lifted investor sentiment, sparking a rally in Asian markets and boosting Wall Street futures. This positive momentum reflected in the Indian stock market, where benchmark indices saw a recovery after two consecutive days of decline. Investors reacted optimistically to the easing of trade tensions, driving the markets higher.
The 30-share BSE Sensex gained 320.70 points, or 0.39%, to close at 81,633.02, while the broader 50-share NSE Nifty rose by 81.15 points, or 0.33%, ending the session at 24,833.60. The renewed confidence in global trade prospects contributed to this upward movement, as market participants assessed the implications of the ruling. The Indian stock market mirrored international trends, reinforcing its sensitivity to global economic developments. With a more stable outlook, traders remained cautiously optimistic about future gains, closely watching further trade-related events that could influence market sentiment.
Outlook for trading
The bullish bias could not make it through but showed some signs of rebound as it came roaring back towards the close of the day. After a strong opening the indices showed no interest in moving lower as the bounds around 24,600-24,700 seems to be defended now. By the end of the day the indices had revived to close higher thus leaving every one without a doubt that the bullish bias is attempting to move higher. As we can see from the charts below, we can note that the Nifty spot upside remains capped at 25,200 that is keeping a curtain on the price action.
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The readings from the option data suggests that PCR remains at 0.73, highlighting that the trends are now turned over to the bullish side and will now look at generating more momentum to the upside. In line with the intraday charts shown above we can note that the support zones shown here at 24,700-24,800 will now be an important support area.
We are now seeing some steady Put writing at 24,700 levels, moved from 24,500 earlier, which will be good for any reaction. One should be tracking this level to generate some steady buying interest at every dip. Trends remain challenged and we are trading now with a bullish bias.
The onus now is on the indices to play catch-up. Else what we saw on Thursday will be a recovery rally or an invitation to go short. A very tricky situation indeed and we have to take note of this fact as we head into the June expiry.
Best stocks to buy today, recommended by NeoTrader’s Raja Venkatraman
Deepak Fertilisers and Petrochemicals Ltd
Current market price: ₹1,519.50
DEEPAKFERT: Buy CMP and dips to ₹1,450 |Stop: ₹1,425 | Target: ₹1,625-1,675
- Why Deepak Fertilisers is recommended: Deepak Fertilisers and Petrochemicals is considered a buy due to its strong financial performance, including a significant rise in profits, robust revenue growth, and improved Ebitda margins. The strong showing in Q4 2025 helped it surpass the November highs, which is a significant move. The long body candles seen in the last two trading sessions indicate more upside in store for this counter.
- Key metrics
- P/E: 46.62
- 52-week high: ₹1,450
- Volume: 2.04 million
- Technical analysis: Support at ₹1,100; resistance at ₹1,825
- Risk factors: competition in the fertilizer industry, regulatory changes, and fluctuations in commodity prices.
- Buy: Dips to ₹1,450
- Target price: ₹1,625-1,675 in 1 month
- Stop-loss: ₹1,425
TD Power Systems Ltd
Current market price: ₹511.45
TDPOWERSYS: Buy above ₹512 and dips to ₹480 | Stop below: ₹470 | Target: ₹555-575
- Why TD Power is recommended: TD Power Systems announced a significant 82.64% increase in consolidated net profit for Q4FY25, reaching ₹53.02 crore. Revenue rose by 31.95% to ₹348.21 crore. The company manufactures generators, catering to conventional and renewable fuel-based power plants. After facing value area resistance at the 470-480 zone the prices moved above and the upthrust seen on Thursday indicate the trends could continue.
- Key metrics
- P/E: 51.98
- 52-week high: ₹510
- Volume: 2.69 million
- Technical analysis: Support at ₹380; resistance at ₹710
- Risk factors: Structural changes in the capital goods sector, geopolitical issues.
- Buy above: ₹512 and dips to ₹480
- Target price: ₹555-575 in 1 month
- Stop-loss: ₹470
Marksans Pharma Ltd
Current market price: ₹260.25
MARKSANS: Buy above ₹260 and dips to ₹245 | Stop: ₹235 | Target: ₹290-310
- Why Marksans Pharma is recommended: Marksans Pharma is an Indian pharmaceutical company that focuses on research, manufacturing, and marketing of generic pharmaceutical formulations and over-the-counter drugs. The stock after some consolidation is showing a steady rise to the upside and has moved out of the recent resistance zones. With momentum showing some move once again we will look to initiate a buy.
- Key metrics
- P/E: 62.34
- 52-week high: ₹354
- Volume: 1.86 million
- Technical analysis: Support at ₹195; resistance at ₹349
- Risk factors: Raw material volatility and competition that’s recently emerging from domestic players could impact profitability.
- Buy at: CMP and dips to ₹245
- Target price: ₹290-310 in 1 month
- Stop-loss: ₹235
Raja Venkatraman is co-founder, NeoTrader. His Sebi-registered research analyst registration no. is INH000016223.
Investments in securities are subject to market risks. Read all the related documents carefully before investing. Registration granted by Sebi and certification from NISM in no way guarantees performance of the intermediary or provide any assurance of returns to investors.
Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before making any investment decisions.