MarketSmith Strategist Raja Venkatraman Recommends Five Stocks to Watch

Indian Stock Market Ends Marginally Lower

The Indian benchmark indices, Sensex and Nifty, ended marginally lower on Thursday, 21 May, following a volatile session. The Sensex fell by 135.03 points, or 0.18%, to settle at 75,183.36, while the Nifty 50 slipped by 4.30 points, or 0.02%, to close at 23,654.70.

The day's trading session was marked by heightened market volatility, with the Sensex swinging sharply between an intraday high of 75,945.79 and a low of 74,996.78. Broader markets remained largely rangebound, with the BSE SmallCap Select index gaining 0.48% and the MidCap Select index ending nearly flat.

Market experts attribute the cautious investor sentiment to ongoing concerns surrounding the Middle East conflict, elevated crude oil prices, currency volatility, and rising global bond yields. The Gift Nifty Live Chart shows a muted start for the Indian stock market on Friday, 22 May, with the Gift Nifty trading around the 23,620.5 level, a discount of 11 points from the Nifty futures' previous close of 23,631.40.

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Stocks to Buy on 22 May

According to Raja Venkatraman, Co-founder of NeoTrader, and stock research platform MarketSmith India, the following five shares are recommended to buy on 22 May:

Aditya Birla Fashion and Retail Ltd

• Buy above ₹67
• Stop loss: ₹63
• Target price: ₹77 (multiday)

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Aditya Birla Fashion and Retail is a prominent Indian fashion and lifestyle company, a subsidiary of the Aditya Birla Group. The stock has been in a decline over the last six months, and the formation of a Cup-and-Handle pattern over the last few days has raised the possibility of an upside move. The numbers suggest momentum is picking up, and an upward move is possible now.

Metro Brands Ltd

• Buy above ₹1,110
• Stop loss: ₹1,050
• Target price: ₹1,225 (multiday)

Metro Brands Ltd is one of India's largest footwear speciality retailers, offering a wide range of branded products for men, women, and children. The power sector is now in demand. After the sharp sell-off, prices appeared to have found strong support at the Kumo cloud region, and the revival from lower levels is highlighting strong upside potential.

Great Eastern Shipping Company Ltd

• Buy above ₹1,725
• Stop loss: ₹1,625
• Target price: ₹1,925 (multiday)

The Great Eastern Shipping Company Ltd is India's largest private sector shipping and oilfield services provider. The company operates a diversified modern fleet of crude carriers, petroleum product tankers, gas carriers, and dry bulk vessels to safely transport commodities globally. The stock has been featured in our article before, and it continues to attract demand.

Samvardhana Motherson International Ltd

• Buy at: ₹135-137
• Target price: ₹160 in two to three months
• Stop loss: ₹157

Samvardhana Motherson International Ltd is a strong global auto component player with a diversified customer base. The company has a presence across multiple geographies, strong relationships with global OEMs, and a beneficiary of premium vehicle growth.

Lumax Industries Ltd

• Buy at: ₹5,480-5,563
• Target price: ₹6,300 in two to three months
• Stop loss: ₹5,250

Lumax Industries Ltd is a strong presence in automotive lighting, leading supplier to major OEMs, and beneficiary of premium vehicle trend. The company has a strong relationship with OEM clients, growing demand for LED lighting, and expansion in advanced lighting solutions.