Stocks to buy: Analyst suggests Bharti Airtel, Power Grid & one other share

Stocks to buy: Ajit Mishra of Religare Broking recommends buying Airtel, PowerGrid and one other stock; here's why

Nifty share price:

Markets edged higher on Wednesday amid mixed cues, gaining over half a percent. After a firm start, the Nifty maintained a positive tone during the first half; however, profit booking in the final hours trimmed the gains. The index eventually settled at 24,177, up 0.76 per cent. Sectorally, the trend was mixed, with FMCG, realty, and auto leading the gains, while financials and banking stocks ended marginally in the red. Broader markets also displayed a mixed trend, with midcaps gaining over half a percent, while smallcaps ended almost unchanged.

 

The up move was primarily driven by optimism around earnings announcements and buying interest in select heavyweights across sectors. However, elevated crude oil prices near the $110 mark, along with persistent foreign institutional outflows and a weak rupee continued to cap the upside and kept participants cautious.

 

 

Markets will react to the outcome of the US Fed meeting in early trade on Thursday. Additionally, exit polls for the West Bengal elections and geopolitical developments will remain on participants’ radar. From a technical perspective, the Nifty has rebounded from its key support zone near 23,950, indicating a potential continuation of the consolidation-to-positive phase. Immediate resistance is placed in the 24,200–24,350 zone, followed by a crucial hurdle near 24,600. 

 

On the downside, a decisive break below the short-term moving average (20 DEMA) could drag the index towards the 23,550–23,800 range. We continue to recommend a stock-specific approach based on sectoral strength, while utilizing rebounds in crude-sensitive themes and IT stocks for shorting opportunities.

Stocks to Buy today: Recommendations by Ajit Mishra of Religare Broking 

Bharti Airtel Limited | LTP: ₹1,888.1 | Recommendation: Buy | Target: ₹2,020 | Stop-loss: ₹1,815

BHARTIARTL is showing early signs of a potential bullish reversal after a prolonged downtrend, supported by a breakout above a descending trendline.  

The Bharti Airtel stock price has stabilised near a key demand zone, with repeated rejections at lower levels indicating accumulation. The stock has also closed above its short-term moving average (20 DEMA), while rising volumes suggest strengthening buying interest. Traders may consider initiating positions in line with the emerging upward bias.

Power Grid Corporation of India Limited | LTP: ₹320.35 | Recommendation: Buy | Target: ₹342 | Stop-loss: ₹309

Power sector stocks continue to gain traction, with POWERGRID moving in line with the broader sector trend and offering a fresh buying opportunity near its key pivot zone. Following a trend reversal in February 2026, the stock advanced initially before entering a phase of tight consolidation, forming a base above the neckline and key weekly moving averages. It has recently broken out of this base, indicating the potential start of a new upward leg after a period of accumulation. Considering the supportive sector momentum and a strong technical structure, traders may look to initiate long positions within the specified range.

RBL Bank Limited | LTP: ₹ 341.2 | Recommendation: Buy | Target: ₹365 | Stop-loss: ₹329

RBL Bank shares have witnessed a fresh breakout after consolidating for nearly six months in the ₹335–₹390 range. The move is supported by a sharp increase in volumes, adding credibility to the breakout.  

This reflects a classic trend structure where accumulation is followed by continuation. The stock is expected to see a fresh leg of upward movement, and traders may consider accumulating it at current levels.  (Disclaimer: This article is by Ajit Mishra, SVP – research, Religare Broking. Views expressed are his own.)