Stocks to buy today: Indiamart, Tata Communication & Newgen Software

Benchmark Sensex tanked 1,235 points to settle at more than seven-month low due to an across-the-board selloff triggered by global tariff war worries and persistent foreign fund outflows.

Stocks that were in focus include names like Indiamart, which rose 1.15% and Tata Communication, which declined 1.7% and Newgen Software, whose shares fell 16% on Tuesday.

Here's what Viral Chheda, Sr Analyst at SSJ Finance & Securitie, recommends investors should do with these stocks when the market resumes trading today.

Indiamart

After making the Triple Top around 3150 in Aug 2024, price has witnessed a bear run to make the low of 2165 odd levels. Price has given almost 32% downside move from its higher level of 3150 odd levels.

Currently the price is moving in the range of 2165-2335, breakout from this range will give further 300-400 points movement. Price is also facing resistance of 50 DMA around 2310, closing above this level will also give some positive movement on the higher side.

For the Long term stock looks good and can be bought at every dips. The Stochastics Oscillator is moving in an upward trend along with an increase in volume indicating further upside from here. Hence one can buy at current level and more at dips of 2210 with stop loss of 2150 on weekly closing basis and upside can be seen till 2600-2850 in the coming 10-12 months.

Tata Communication


After making an all time high around 2175 in Oct 2024, price has given a sharp correction to make the low of 1624 odd levels. Price has given almost 25% downside move from its higher level of 2175 odd levels.

At the lower levels after taking the support of previous lower levels, price has given some pull back and closing above its 20 DMA of 1706 we can see further upside from here. On the higher side, price can face some resistance around 1830-1860 odd levels, moving above this level will give further upside move till 1950-2050. For the Long term stock looks good and can be bought at every dips.

The Stochastics Oscillator is moving in an upward trend along with an increase in volume indicating further upside from here. Hence one can buy at current level and more at dips of 1640 with stop loss of 1550 on weekly closing basis and upside can be seen till 1930-2150 in the coming 10-12 months.

Newgen Software


In the weekly chart after consolidating in the range of 670-890, price has given a sharp upside move to make an all time high around 1799 odd levels. Price has given almost 168% returns from its lower level as buyers were having upper hand over sellers. At the higher level price has witnessed some selling pressure as stock has given almost 28% corrections to make the low of 1294 odd levels.

As the stock has fallen with rise in volume we can see further dips in the price till 1150 odd levels. On the higher side price should go above 1600 odd levels to make new highs. Long term stock looks good and one can buy at every dip. The Stochastics Oscillator is moving in the downward trend along with an increase in volume indicating some more correction can be seen.

Hence one can avoid buying at current level and can be bought at dip of 1250 and further more at dip of 1150 with stop loss of 1030 on weekly closing basis and upside can be seen till 1600-1850 in the coming 10-12 months.

( Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)