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

Ajit Mishra, SVP-research at Religare Broking, has recommended buying Bharti Airtel, Federal Bank, and GAIL (India) shares today, April 17, 2025

Market View

 

Markets edged higher, gaining nearly half a percent as the recovery phase continued. Following yesterday’s surge, the Nifty traded in a narrow range during the first half of the session. However, renewed buying interest in heavyweight stocks across sectors pushed the index higher in the final hours. As a result, it surpassed the resistance at 23,400 and eventually closed near the day’s high at 23,437.20. On the sectoral front, banking, energy, and FMCG were among the top gainers, while auto and pharma sectors remained subdued. The broader indices also posted healthy gains, ranging from 0.63 per cent to 1.01 per cent.

 

  Participants responded positively to favorable cues, including the update on a normal monsoon, further easing of retail inflation, and, importantly, the absence of any negative surprises from global markets.  Notably, the sustained strength in banking and financial stocks, along with rotational buying in other sectoral heavyweights, played a significant role in driving the momentum. With the Nifty now above the 23,400 hurdle, a sustained move could pave the way for a test of the previous swing high around 23,800. Traders are advised to align their positions accordingly, focusing on the sectors that continue to outperform.  Also Read: Stock Market Live Updates 

Stocks Recommendations

 

Bharti Airtel Limited |LTP: ₹ 1,822.60 | Buy | Target: ₹ 1,950| Stop-loss: ₹ 1,760

Bharti Airtel has been one of the few heavyweight stocks showing notable strength amid recent market volatility. Over the past six months, it traded within a narrow range of ₹1,540–₹1,750, consistently staying above its long-term 200-day exponential moving average (DEMA). Recently, the stock has finally witnessed a breakout from this range. Participants can consider fresh long positions as per the mentioned levels. 

 

The Federal Bank Limited |LTP: 194.92 | Buy | Target: ₹ 207 | Stop-loss: ₹ 188

We have been witnessing relative outperformance in private banking stocks, and Federal Bank is presenting a renewed buying opportunity. The stock has formed a fresh bullish pivot while holding firmly above the confluence of key moving averages. Additionally, the momentum indicator RSI has shown a positive crossover, further strengthening the bullish outlook. Considering the overall technical setup and the positive sentiment in the banking space, one may consider going long on Federal Bank within the suggested range.

 

GAIL (India) Limited | LTP: ₹ 184.70| Buy | Target: ₹ 199| Stop-loss: ₹ 176

GAIL has formed an inverted head and shoulders pattern—a classic reversal formation indicating a potential trend reversal after a corrective phase. The recent rebound from lower levels was accompanied by strong volumes, reinforcing the outlook for a resumption of the uptrend. Given the favorable price structure, traders may consider taking long positions within the specified range for potential gains. 

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