Rajesh Palviya recommends three stocks to buy

Rajesh Palviya from Axis Securities has recommended three stocks for investors to buy, hold, or accumulate today. The stocks are Torrent Power, Bharat Dynamics, and Jindal Saw. The stock market opened lower today. The Nifty 50 and Sensex indices were affected by losses in IT stocks. A warning from Accenture about reduced spending in the United States caused IT stocks to drop by 2%. Companies like Tata Consultancy Services and Wipro saw declines of 1.5% to 2.5%. The Sensex fell by 252.8 points to 76,095.26, while the Nifty 50 decreased by 57.85 points to 23,132.80. Despite this, Dr. V K Vijayakumar from Geojit Financial Services noted a recent market rally. Over the past week, the Nifty rose by 3.5%. This was driven by increased buying from foreign investors and a reduction in their short positions. Retail investors are also returning to the market, helping mid and smallcap indices recover. Palviya also shared insights on the Nifty 50 index. The index has shown strong buying momentum recently, closing above 22,800, its resistance level. Support levels to watch are at 23,000-22,800, while the upside targets are 23,500-23,800. For Torrent Power, the stock is currently at ₹1,464. A trend reversal is indicated, and the expected upside is between ₹1,600-₹1,700. Support is identified at ₹1,400-₹1,355. Bharat Dynamics, now at ₹1,245, has broken through its resistance level and is expected to rise to ₹1,350-₹1,460, with support at ₹1,190-₹1,150. Lastly, Jindal Saw, priced at ₹285, has recently broken out of a key formation. Its expected upside is ₹300-₹320, and support is at ₹272-₹262. Investors are advised to consult certified experts before making any investment decisions.