Stocks to buy – Post-expiry pause likely a breather before the next leg up – Market overview post-expiry

Market expert Aamar Deo Singh in an interview with ET Now said that following the recent expiry, market sentiment appears cautious, primarily due to geopolitical concerns such as the recent terror attack in Kashmir. While earlier, markets were reacting to global trade-related news like tariffs, that influence has now reduced. Notably, India VIX has risen from around 14 to nearly 18, suggesting increased nervousness among investors. Despite this, the domestic markets are not showing significant weakness, indicating only a mild risk-off mood.

The markets have seen a sharp rally recently, climbing from 22,000 to over 24,300 in a relatively short period, marking a gain of almost 10%. This swift upward movement is prompting some degree of profit booking. What we are likely witnessing now is a period of consolidation, where the markets take a breather before potentially resuming the uptrend.

Technically, Nifty is currently facing its first resistance around the 24,400 mark. If this level is convincingly breached, the index could advance another 300–400 points, targeting the 24,700 to 24,800 zone. On the downside, immediate support lies at 24,000, which is a crucial level for bulls to hold. The broader strategy continues to favor buying on dips, though traders should be cautious due to the rapid gains seen recently.

HDFC Life has recently shown strong price action, breaking out on the charts with significant volume support. From a technical perspective, the stock remains strong across short-term, intermediate-term, and long-term trends. It is currently trading around Rs 740, and investors can consider entering at these levels with an upside target of Rs 778, as the insurance sector remains in favor.

Sun Pharma has been consolidating between Rs 1,600 and Rs 1,800 but has now managed to sustain above the Rs 1,800 level. This breakout is supported by improving intermediate-term indicators, though the long-term trend is moderately bullish. With the stock currently near Rs 1,830, a fresh buying opportunity is visible with a potential target of ₹1925. A stop loss can be placed at Rs 1,779 to manage risk.