Analyst Aakash K Hindocha Picks ONGC, Graphite India, SAIL as Top Buy Calls; Bullish on Nifty, Bank Nifty

Aakash K Hindocha from Nuvama Professional Clients Group has provided his top stock market recommendations for investors. He has given buy calls for Oil and Natural Gas Corporation (ONGC), Graphite India, and Steel Authority of India Limited (SAIL).

Index View: Nifty has closed at a record high and shows strong upward momentum with increasing market participation. The support level is now at 25700, and the index is expected to test all-time high levels soon. Bank Nifty also achieved its highest close, driven by strong performance from private and public sector banks. A decisive move above 58600 could trigger significant upside momentum, with 57869 being a key level to watch for the medium-term trend.

Stock Recommendations: * Oil and Natural Gas Corporation (ONGC): Rated BUY with a target price (TGT) of 280 and stop loss (SL) of 249. The stock is emerging from a year-long base, boosted by the strong oil and gas sector. It is expected to reclaim its all-time high of 300 once it surpasses 265. * Graphite India: Rated BUY with a TGT of 760 and SL of 585. The stock has successfully closed above its long-term resistance of 600 with strong trading volumes. This breakout, coinciding with a downtrend trendline break, suggests potential for significant upward movement. * Steel Authority of India Limited (SAIL): Rated BUY with a TGT of 175 and SL of 134. The stock recently broke out of its trading range with the highest volumes seen in 18 months. This indicates the start of a larger uptrend, and with the metal sector gaining momentum, SAIL is expected to be a strong performer.

Impact: These stock recommendations and positive index outlook can significantly influence investor sentiment and trading activity, potentially leading to price appreciation in the recommended stocks and broader market indices. Investors may consider these insights for their portfolio decisions. Impact: 8/10

Difficult terms: LCP: Last Traded Price - the price at which a security was last traded. SL: Stop Loss - an order placed with a broker to buy or sell a security when it reaches a certain price. TGT: Target Price - the price level at which an analyst or investor expects a stock to reach. PSU banks: Public Sector Undertaking banks - banks where the majority stake is held by the government. Momentum: The rate at which the price of a security increases or decreases. Support: A price level where a downtrend can be expected to pause, at which point buying interest may be sufficient to unit the price from falling further. Resistance: A price level where a downtrend can be expected to pause, at which point selling interest may be sufficient to unit the price from rising further. Trendline: A line drawn on a stock chart connecting a series of prices, indicating resistance or support. Breakout: When a stock's price moves significantly above a resistance level or below a support level. Volumes: The number of shares or contracts traded during a specific period. Outperformer: An investment that performs better than its benchmark or the overall market.