 "Stocks to buy today: Airtel, Coal India and HCLTech on analyst's radar")
Nifty share price:
Markets traded lackluster for the second consecutive session on Wednesday and ended marginally lower, indicating continued consolidation after the recent surge. After a stable start, the Nifty moved within a narrow range for most of the session in the absence of fresh triggers and eventually closed around the previous day’s level at 26,142.10. Sectoral trends remained mixed and rotational, with profit-taking seen in select IT, pharma, and FMCG stocks, while realty and metals ended largely flat.
The broader markets also showed a mixed trend, with the midcap index declining nearly 0.5 per cent, while the smallcap index closed marginally higher, highlighting selective participation. Global cues continued to influence sentiment, particularly during the opening trade; however, muted volumes and weak market breadth reflected a cautious stance among participants.
Overall activity remained stock-specific, with traders focusing on selective opportunities rather than broad-based positioning. We maintain a positive bias amid the ongoing consolidation in the index and continue to recommend a “buy-on-dips” approach as long as the Nifty holds its prevailing uptrend. For fresh momentum, stronger participation from the banking index will be essential, with a decisive breakout above the 59,500 level likely to fuel the next leg of the up move. Until then, participants are advised to adopt a stock-specific approach, focus on sectors showing consistent outperformance such as private banks, metals, and auto, and adhere to disciplined risk management in the low-volume environment. CATCH STOCK MARKET LIVE UPDATES TODAY
Stock recommendations by Ajit Mishra of Religare Broking
Bharti Airtel Limited| LTP: ₹2,123.7| Recommendation: Buy | Target: ₹2,280| Stop-loss: ₹2,050
BHARTIARTL stock continues to display a strong bullish structure, consistently taking support near its rising 20- WEMA, which is acting as a dynamic support zone. Following a healthy consolidation above the earlier resistance neckline, the stock has witnessed a decisive breakout, signaling a resumption of the broader uptrend. With prices holding firmly above key EMAs and the RSI turning upward from the neutral zone, bullish momentum remains intact. Traders may consider initiating long positions within the specified levels.
Coal India Limited | LTP: ₹402.35| Recommendation: Buy | Target: ₹428| Stop-loss: ₹389
Coal India stock has staged a strong rebound from its multi-month support zone, after forming a well-defined base during an extended consolidation phase. The recent up move is supported by a strong bullish candle accompanied by a notable surge in volumes, indicating renewed buying interest. This price action suggests that downside risks are limited, with the stock now positioned for a potential upside rally. The constructive technical setup offers a favorable opportunity for traders to initiate long positions. ALSO READ | Manappuram Finance, Indus Towers among technical picks suggested by analyst
HCL Technologies | LTP: ₹1,674.70| Recommendation: Buy | Target: ₹1,780| Stop-loss: ₹1,620
Improving traction is visible across IT counters, and HCLTECH share is aligning well with the broader sectoral trend. After emerging from a corrective phase, the stock has demonstrated resilience by sustaining above its 20-day EMA. It has also formed a fresh pivot resembling a flag pattern, indicating a continuation of the ongoing uptrend. Considering the supportive sectoral backdrop and positive chart structure, traders may consider long positions in HCLTECH within the mentioned range.
(Disclaimer: This article is by Ajit Mishra, SVP – research, Religare Broking. Views expressed are his own.)