Market expert Ankush Bajaj has identified three stocks for investors to consider on Monday, 29 December 2025. This recommendation comes as the benchmark Nifty 50 index faces overhead pressure, having failed to sustain above a key downward-sloping trendline that has acted as dynamic resistance since early December.
Market Context: Nifty Faces Resistance
On Friday, 26 December, the Indian equity market ended on a cautious note. The Nifty 50 declined by 99.80 points, or 0.38%, to close at 26,042.30. The Sensex slipped 367.25 points, or 0.43%, settling at 85,408.70. The Bank Nifty also fell 172.25 points to 59,011.35.
Technically, the Nifty's rejection near the 26,117 level and its failure to hold above 26,100 confirms short-term supply in that region. The index is now trading below its key hourly moving averages, with momentum indicators like the RSI at 40 and MACD turning negative, suggesting potential for further near-term downside unless a strong reversal occurs.
Ankush Bajaj's Top Stock Picks for 29 December
Amid this mixed market setup, Bajaj recommends focusing on stocks showing strong technical setups, particularly within the metals sector which outperformed on Friday.
1. National Aluminium Company Ltd (NALCO)
NALCO is exhibiting strong bullish momentum supported by high trend strength. The stock is trading firmly above its short-term support zones, benefiting from the broader metals sector rally.
Key Technical Metrics:
- RSI (14-day): 62, indicating bullish momentum not yet overbought.
- MACD (12,26): +2, showing a clean positive crossover.
- ADX (14): 52, reflecting a very strong trend in motion.
The technical view suggests that holding above the ₹301 level keeps the uptrend intact, with an upside target of ₹318. Investors should note that the stock is sensitive to global aluminum price volatility and mining policy cues.
Recommendation: Buy at ₹306.85 | Target: ₹318 | Stop Loss: ₹301
2. NMDC Ltd
NMDC is showing signs of accumulation after a consolidation phase. The technical indicators suggest early-stage positive momentum and a trend that is gaining strength.
Key Technical Metrics:
- RSI (14-day): 52, indicating momentum is building up.
- MACD (12,26): +0.15, reflecting a mild positive signal.
- ADX (14): 28, showing the trend is gaining strength.
The price action suggests a potential short-term breakout above resistance levels. Sustaining above ₹81.20 supports a bullish continuation toward ₹85. Risks include fluctuations in global iron ore prices and government mining policies.
Recommendation: Buy at ₹82.60 | Target: ₹85 | Stop Loss: ₹81.20
3. Vedanta Ltd (VEDL)
Vedanta remains in a broad uptrend and is currently consolidating above support levels. The stock presents a favorable technical setup within the metals space.
Key Technical Metrics:
- RSI (14-day): 51, indicating neutral-to-positive momentum.
- MACD (12,26): +0.67, confirming a recent bullish crossover.
- ADX (14): 21, pointing to early trend development.
Given this setup, a breakout toward ₹612 looks probable. Holding above ₹595 will keep the bullish bias valid. The stock carries exposure to commodity pricing risks and global market sentiment on metals.
Recommendation: Buy at ₹600.95 | Target: ₹612 | Stop Loss: ₹595
Investment Outlook and Key Risks
Ankush Bajaj's picks are heavily tilted towards the metals sector, which saw the Metal Index rise 0.59% in the previous session. This sectoral strength provides a tailwind for these recommendations. However, investors must consider the inherent risks.
All three stocks are subject to global commodity price volatility and domestic policy changes related to mining and exports. The broader market direction, with Nifty facing resistance near 26,200, also remains a crucial factor. A decisive close above 26,230 is needed to restore broader bullish momentum, while a break below 25,931 could extend the correction.
Disclaimer: Ankush Bajaj is a SEBI-registered research analyst (INH000010441). Investments in securities are subject to market risks. The views and recommendations are those of the individual analyst. Investors are advised to consult with certified experts before making any investment decisions.
