Top three shares to buy today: Expert Ankush Bajaj's choices for May 16

Copyright © HT Digital Streams Limit all rights reserved. Ankush Bajaj 6 min Read May 16, 2025, 05:30 AM ist Ankush Bajaj recommends three shares for May 16. Summary Top Three Stocks To Buy Today: Discover Ankush Bajaj’s knowledgeable shares for Friday, May 16. Get insights into the best performing stocks and informed investment decisions. The Nifty 50 had an volatile session with a strong recovery in the second half on Thursday, with a low of 24,494 and a high of 25.116 before it closed at 25.062.10, 395.20 points or 1.60% of the previous session. On the daily charts, the index formed a large green candle with a strong volume, indicating a decisive outbreak over the psychological level of 25,000. The first half of the session was characterized by meager and directionless movement, but the second half saw a sharp rally, transforming a Zig-Zag day into a powerful upward tendency. Top three shares recommended by Ankush Bajaj for May 16: Buy: HDFC Asset Management Co. Ltd. (HDFCAMC) (Current Price: £ 4,702,00) Why it is recommended: On the daily chart, the stock gave a good breakdown near £ 4.565. After the exposition, we saw a strong rally that indicates bullish succession. Both RSI and MACD are on the positive side, supporting the momentum and further upside potential for £ 4,850+ levels. Also read: Bharti Airtel eyes grow through price increases for high-end users Key metric: Resistance level: £ 4,850-£ 4,880 (supply zone) | Support Level: £ 4,565 (Recent Outbreak Base) | Pattern: Breakout with follow -up | Share: Healthy during technical analysis of the breakout: Price traded above the most important moving averages. RSI> 60 and MACD in Bullish Crossover support upward continuation. Breakout with follow-up and rising volume indicates strength. Risk factors: Distribution below £ 4,630 with volume can invalidate the pattern. The market -wide weakness or withdrawal of the financial sector can affect the performance. Buy at: £ 4,702.00 Target Price: £ 4,850 – £ 4,880 in 4-5 Days Stop Loss: £ 4,630 Buy: Petronet LTD (Current Price: £ 319.80) Why it is recommended: On the daily chart, the stock gave a flag pattern, giving the upward upward. After a recent £ 325 peak, the share at the lower timeframe withdrew to an important demand area, where a setback is expected, which may lead to new highlights to £ 330 levels. IMPORTANT STATISTICS: RESISTANCE: £ 328 – £ 330 (supply zone) | Support Level: £ 313 (Question Zone) | Pattern: flag outbreak + withdraw | Part: Positive during technical analysis of the breakout: Price traded above the most important moving averages. The exposition of a bullish flag pattern and the retesting area supports further upside down. Price structure remains intact with strong momentum leads on intraday cards. Risk factors: Distribution under £ 313 with volume can invalidate the setup. Sector rotation or market -wide profit discussion can delay the expected refusal. Buy at: £ 319.80 Target Price: £ 328 – £ 330 in 4-5 Days Stop Loss: £ 313 Buy: NBCC (India) Ltd (Current Price: £ 106.70) Why It Recommended: On the Daily Chart, the stock formed a flag formation, which set up the foregoing. After a decent rally, the share saw on the lower timeframe, but it has now seen some sales pressure, but it has now approached a possible turnaround zone, from where a return is expected. Important Statistics: Resistance Level: £ 113 – £ 115 (Supply Zone) | Support level: £ 102 (recent withdrawal low) | Pattern: flag outbreak + withdraw | Share: Healthy during technical analysis of the breakout: Price structure remains positive above the most important moving averages. The flag pattern outbreak, followed by a light correction, reinforces the matter for a renewed upside. The lower timeframe indicates a possible short -term reversal from current levels. Risk factors: Distribution below £ 102 with volume can deny the bullish setup. Broader market weakness or lack of volume confirmation may affect the performance of the short term. Buy at: £ 106.70 Target Price: £ 113 – £ 115 in 4-5 Days Stop Loss: £ 102 Market Update: Rocket Recovery to Choppy Start The BSE Sensex rose 1,200,18 points or 1.48% to close 82,530,74, while the banknifig also increased by 554,30 1.01% to 55,355,60000 points. The rebound was broadly based and drove through strong buying in sectors. Indiavix cooled down during the day, reflecting the reduced fear and increasing confidence among market participants. The decline in volatility further supported the risk-on sentiment, especially in the second half of the session. Also read: Because earnings are a greater priority than volumes to the disadvantage, the Nifty 50 is expected to support approximately 25,000-24 800 immediately, in accordance with the concentration and technical strength of the options. The index now looks at 25,125 as the next immediate obstacle, with a further potential for 25,300–25.400 if the momentum continues. Sectoral performance The rally is well supported by a strong sectoral performance, with all major sectors closing in the green. The car sector increased by 1.92%, powered by strong demand forecasts and positive developments in the EV segment. The property sector also rose 1.92%, with renewed buying in housing financing and commercial real estate. The metal sector climbed 1.74%, supported by firm Global Commodity prices and positive export prospects. Top Gainers Hero Motocorp rose 6.34%, supported by strong global clues and rising optimism in the EV space. JSW Steel rose by 4.95%, as metal supplies buy heavily amid a setback in global steel prices. Tata Motors advanced 4.17%, fueled by large order announcements and optimistic sentiment before quarterly results. Top loser There were no significant losers in Thursday’s rally. Indusind Bank was the only nice component that ended slightly lower and fell 0.11%, probably due to light profit discussion after recent profits and subdued banking action during the first half. Nifty Technical Analysis daily and hourly looks at the complete image the exposition of the key resistance of 25,000 indicates bullish strength. On the daily maps, the index formed a large candlestick with green, with strong volumes, which is the highest since the fall of October 15, 2024. The getaway above the key resistance of 25,000 indicates bullish strength. Immediate resistance now lies on 25.125, and a sustained move above this level can be further upside down to 25,300-25.400. Meanwhile, 25,000 have now become a support in the short term, followed by 24,800. Indiavix further alleviated -1.93% to 16.89, reflecting the reduced fear and increasing confidence among traders. While volatility has cooled, VIX remains above ultra-easy zones, suggesting that selective caution is near overhead resistance. To the disadvantage, the index is expected to find support of approximately 25,000-24 800, supported by both technical levels and the build-up of OI, which holds the prejudice slightly bullish with a buy-on-dip approach. On the daily chart, the Nifty still trades above the 20-day and 40-day moving averages placed on 24,315 and 23,875 respectively, confirming the bullish structure. On the hourly chart, it is also comfortably placed above the 20-hour and 40-hour EMAs at 24,725 and 24,636, reflecting a strong short-term momentum. No fresh moving average crossings have occurred, but the trend remains firmly positive. Look at the full image The daily momentum indicator RSI stands at 66. The daily momentum indicator RSI stands at 66, which represents power without being bought too much while the MACD remains in a bullish crossover, supporting the ongoing rally. Derivative instruments and overt importance (OI) Summary The Put -Nal ratio (PCR -OI) has improved slightly, which is an indication of a shift to bullish sentiment. The maximum pain level is currently 25,000, with a significant OI concentration at the 25,000 strike on both the call and side of the side – making it a critical pivot. On the call side, fresh writing is visible on 25,200 AD and 25,500 AD, while the pit side shows aggressive writing at 25,000 PE and 24,900 PE, which strengthens strong support in the 24,900-25,000 series. Futures OI data indicates a mixture of short covering and fresh long build-up, which corresponds to a neutral to slightly bullish attitude. FIIs have increased net long exposure in index futures, while retail and own traders still hold a balanced mix of directional and hedged positions. Also read: Hindustan Aeronautics: Here is all you need to know before investing the overall setup indicates that the short-term trend has moved to buy-on-dips, with 24,800–25,000 who consider a strong support zone and 25,300-25,400 probably the porch, unless fresh triggers emerge. Ankush Bajaj is a Sebi-registered research analyst. His registration number is INH000010441. Investments in securities are subject to market risks. Read all the related documents carefully before investing. Registration granted by SEBI and NISM certification in no way guarantees the performance of the intermediary or gives any returns to investors. Disclaimer: The views and recommendations given in this article are those of individual analysts. This does not represent the views of coin. We advise investors to check with certified experts before making investment decisions. Catch all the business news, market news, news reports and latest news updates on Live Mint. 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