Stocks to buy: Ajit Mishra of Religare Broking recommends 3 shares

Market view

Markets declined after a brief pause, shedding over half a percent amid mixed cues. Following an initial uptick, Nifty remained range-bound in the first half, but profit booking in select heavyweights dragged the index lower as the session progressed. Eventually, it closed near the day’s low at 23,486.85. All major sectors moved in line with the benchmark, with realty, IT, and pharma emerging as the top laggards. 

 

The broader indices also extended their decline, falling between 0.7 per cent and 1.2 per cent. Participants are booking profits ahead of the March derivatives contract expiry, while concerns over tariff discussions continue to weigh on sentiment. 

 

 

On the technical front, Nifty is approaching its key support zone near the major moving averages ribbon around 23,400. A decisive hold at this level could trigger the next leg of the uptrend; otherwise, the consolidation phase may persist. Despite prevailing challenges, we maintain a positive market outlook and recommend a stock-specific approach, focusing

on those demonstrating relative strength.

Stocks recommendations

Bharti Airtel Limited | LTP: ₹1,738.55 | Buy | Target : ₹1,850 | Stop-loss : ₹1,675

Bharti Airtel has emerged from a five-month consolidation phase, indicating potential for further upside in the near term. The alignment of key confirmation indicators, such as RSI and MACD, along with support from major moving averages, strengthens the bullish outlook. Traders may consider initiating fresh long positions at the specified levels.

 

SBI Cards and Payment Services Limited| LTP: ₹868.6 | Buy | Target: ₹935 | Stop-loss: ₹835

SBICARD witnessed a strong upward surge at the beginning of the year, marking the end of its extended three-year corrective phase. After the breakout, the stock has been consolidating within a narrow range

while holding firm above its 20 DEMA. This consolidation has now led to the formation of a fresh buying pivot, signaling the potential for a renewed uptrend.

 

Godrej Agrovet Limited | LTP: ₹766.95 | Buy | Target: ₹890 | Stop-loss:₹ 715

GODREJAGRO has been range-bound for the past six months following a strong surge in mid-2024. During this period, it has established a solid base while maintaining strength above its long-term moving average, the 200 DEMA. The stock is now on the verge of a breakout from this base formation, indicating a potential trend continuation. 

(Disclaimer: This article is by Ajit Mishra, SVP-research at Religare Broking. Views expressed are his own.)