Top stocks to buy today: Stock recommendations for May 2, 2025

TOI Business Desk / TIMESOFINDIA.COM / May 02, 2025, 08:53 IST

Text Size

Small
Medium
Large

Stock market recommendations: Bajaj Broking Research suggests a cautiously positive outlook for Indian equities, anticipating Nifty to consolidate between 23,800 and 24,550. They recommend buying opportunities in quality stocks during this consolidation.

Top stocks to buy today: Stock recommendations for May 2, 2025

Top stocks to buy (AI image)

Stock market recommendations: According to Bajaj Broking Research, Eternal (Zomato) and KEI Industries are the top stock picks for today. Here’s its view on Nifty, Bank Nifty and the top stock picks for May 2, 2025:
Index View: NIFTY
Indian equity benchmarks during last week maintain a positive yet cautious bias, given the lingering geopolitical tensions and tariff related development. US Treasury Secretary Scott Bessent said that several top trading partners had made “very good” proposals to avoid US tariffs, with India likely to be among the first to finalize a deal which boosted sentiments.
Going ahead, Nifty is expected to extend consolidation in the range of 24,550-23,800. With 23,800 being the confluence of last week’s low and recent breakout area. While 24,550 is the 61.8% retracement of the entire decline (26,277-21,744).
We believe the current consolidation will help the index work off the overbought condition developed after the recent strong rally. Stock specific action will continue to remain in focus as we progress through the Q4 earnings season.
Overall structure remains positive, and we believe the current consolidation should be used as a buying opportunity in quality stocks for an up move towards the December 2024 high of 24,850 in the coming weeks.

Globally Investors will keep a close eye on the earnings from the “magnificent seven” megacaps, including Apple Inc, Microsoft Corporation, Amazon and Meta Platforms Inc, this week.
Investors braced for a busy week with a series of U.S. economic data releases, including the Federal Reserve’s preferred inflation gauge – the PCE price index, and the monthly U.S. jobs report. The U.S. will also report its first-quarter gross domestic product (GDP) data this week.
NIFTY BANK

Bank Nifty consolidated in a 2000 points range in the last 6 sessions after the recent strong rally of 5500 points or 11% in the preceding 6 sessions underpinned by robust institutional accumulation in frontline banking counters and a notable revival in FII inflows—reflecting a clear risk-on undertone. Rate cut hopes and positive result of the large cap private Banks boosted sentiment.
A sustained move above the recent high of 56,098 could trigger further upside toward the 56,800 levels in the coming sessions. However, if the index fails to surpass this level, the index is likely to extend the last 6 sessions consolidation within the 54,000–56,000 range, helping to ease the overbought conditions created by the recent sharp rally.
On the downside, key support is seen between 54,000-53,500, which corresponds to the gap-up region and the previous significant breakout zone.
Volatility is expected to stay elevated due to ongoing geopolitical tensions, developments related to tariffs, and the unfolding Q4 earnings season.

Stock Recommendations:
Eternal (Zomato)
Buy in the range of Rs 228-233

Target	SL	Return	Time Period
Rs 255	216	11%	3 Months

The stock has generated a breakout above a falling channel containing last 3 months price action and is sustaining above the 50 days EMA signaling strength and reversal of the corrective trend.
The 14 periods RSI in the weekly chart is seen sustaining above its nine periods average thus validates positive bias in the stock. We expect the stock to head higher towards 255 levels in the medium term being the 138.2% external retracement of the last 3 months breather (242-195)
KEI Industries
Buy in the range of Rs 3000.00-3070.00

Target	SL	Return	Time Period
Rs 3350	2870	10%	3 Months

The share price of Kei Industries has generated a breakout above a falling channel containing last 4 months decline signaling reversal of the corrective trend and resumption of up move.
The weekly 14 periods RSI has generated a buy signal moving above its nine periods average. We expect the stock to head towards 3350 levels in the coming month being the 38.2% retracement of the entire breather (5039-2424)
Disclaimer: The opinions, analyses and recommendations expressed herein are those of brokerage and do not reflect the views of The Times of India. Always consult with a qualified investment advisor or financial planner before making any investment decisions.

Stay informed with the latest business news, updates on bank holidays and public holidays.

About the Author

TOI Business Desk

The TOI Business Desk is a vigilant and dedicated team of journalists committed to delivering the latest and most relevant business news from around the world to readers of The Times of India. The primary focus of the TOI Business Desk is to keep a watchful eye on the global business landscape, covering a wide spectrum of industries, markets, economic trends, in-depth analysis, exclusive reports and breaking stories that impact businesses and economies. With a mission to provide valuable insights and updates, the desk ensures that TOI readers are well-informed about the ever-changing and dynamic world of commerce and can navigate the complexities of the business world.

End of Article