Stock market recommendations: According to Bajaj Broking Research, Paras Defence and Space Technologies, and Thirumalai Chemicals are the top stock picks for today. Here’s its view on Nifty, Bank Nifty and the top stock picks for June 20, 2025:Index View: NIFTYInvestor sentiment remains fragile amid intensifying geopolitical tensions in the Middle East, which have catalyzed a rally in Brent crude prices. This presents a significant macroeconomic overhang for India, given its substantial reliance on crude imports, thereby casting a shadow over forward earnings visibility for India Inc. Meanwhile, the US Federal Reserve, in its recent policy review, maintained the federal funds rate within the target range of 4.25%–4.50%, aligning with market consensus. The Fed reiterated its forward guidance for 2025, signaling a data-dependent stance with no imminent pivot in sight.On the domestic front, the benchmark index continues to exhibit a phase of time-wise correction, consolidating within a well-demarcated range of 24,400–25,200 for the fifth successive week. The price action suggests a lack of directional conviction, indicative of a range-bound market structure.On the upside, 25,000 remains a critical supply zone. A sustained breakout and close above this resistance threshold could trigger momentum-driven upside towards the upper boundary of the consolidation band at 25,200. However, failure to absorb supply at this level may extend the prevailing sideways trajectory.On the downside, immediate support is situated at 24,700. A decisive breach below this inflection point could intensify selling pressure, potentially dragging the index towards the lower end of the consolidation band in the 24,500–24,400 range.Key support is anchored in the 24,500–24,400 zone, which marks a confluence of the 50-day EMA and the lower boundary of the five-week consolidation range, making it a crucial demand zone for the index. Only a breach below the lower band amid further escalation of geopolitical tension will signal acceleration of the decline towards 24,000 levels.NIFTY BANK
- Bank Nifty continues to consolidate in a range as investors remain on the edge amid intensifying geopolitical tensions in the Middle East.
- From a structural standpoint, a sustained breakout and close above the 56,000 psychological marks would be essential to unlock further upside potential, with the index likely to gravitate towards the 56,600–57,000 resistance zone. However, failure to clear this overhead supply zone could result in continued range-bound action, with price oscillating between 56,000 and 55,000, shifting market attention to stock-specific alpha generation.
- On the flip side, a decisive break down below the 55,000 levels would negate the ongoing consolidation structure and trigger a corrective move towards the critical support cluster at 54,500–54,000. This zone represents a confluence of the 50-day Exponential Moving Average (EMA) and the key Fibonacci retracement zone of the prior impulse leg (53,483–57,049).
Stock Recommendations:Paras Defence and Space TechnologiesBuy in the range of Rs 1610-1645
The stock is at the cusp of breaking above the falling trendline joining the highs of May and June 2025 signaling resumption of up move and offers fresh entry opportunity.The stock is currently seen rebounding after a base formation above the 20 days EMA signaling overall positive bias.The daily 14 periods RSI has generated a buy signal moving above its nine periods average thus validating positive bias. We expect the stock to head higher towards 1790 levels in the coming months being the 61.8% retracement of the previous decline (1945-1540).Thirumalai ChemicalsBuy in the range of Rs 286-294
The stock has recently generated a breakout above a rounding formation and is seen sustaining above the short- and medium-term moving averages thus supports the positive bias.The daily MACD is in uptrend and is seen sustaining above its nine periods average signaling positive bias. We expect the stock to head towards 319 levels in the coming months being the 61.8% retracement of the entire decline (395-201).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.