Buy or sell: Top stock picks by Prakash Gaba, Abhishek Mondal for May 16

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26 Aug, 2025 12:21

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The Nifty50 gave up all gains and closed marginally in the red on Tuesday as uncertainty around who will form the government in Karnataka made investors wary. The index formed an ‘Inverted Hammer’ or a Shooting Star kind of formation on the daily charts.

A 'Shooting Star' pattern is formed when the index comes under selling pressure as traders start booking profits at higher levels. This pattern is usually formed in an uptrend and is treated as a reversal pattern, but it would require confirmation before we can conclude that the trend will get reversed in near future.

In exact 'Shooting Star' formation, the distance between the lowest price for the day and the closing price must be very small or nonexistent. However, in Tuesday's session, Nifty50 opened at 10,812.60 and slipped to an intraday low of 10,781.40. It closed 4.75 points lower at 10,801.85.

Sell Reliance Capital with a stoploss of Rs 385 and target of Rs 365

Sell Balrampur Chini Mills with a stoploss of Rs 63 and target of Rs 58

Buy Bharat Petroleum Corporation with a stoploss of Rs 387 and target of Rs 438

Sell NMDC with a stoploss of Rs 124 and target of Rs 107

Buy Housing Development Finance Corporation with a stoploss of Rs 1880 and target of Rs 2,040