Stocks to buy: Analyst suggests Gandhar Oil Refinery, Infosys, Bajaj Auto

Stocks to buy: Aakash Shah of Choice Broking recommends buying Gandhar Oil Refinery, Infosys, Bajaj Auto; here's why

Stocks to buy recommended by Aakash Shah, Choice Broking

GANDHAR

Buy GANDHAR in Cash ₹163, Stop-loss: ₹152, Target: ₹180

GANDHAR is showing a strong recovery from recent lows, signalling an early trend reversal after a prolonged corrective phase. The daily chart reflects a higher low formation, followed by a sharp, impulsive move, indicating renewed buying interest.

 

Price has decisively reclaimed the 20 EMA and 50 EMA, with both averages starting to curl upward, highlighting improving short-term momentum. The stock is now approaching the 100 EMA zone, which acts as a crucial supply area; sustained acceptance above this level would confirm a broader trend shift.

 

The recent up-move is supported by a significant volume expansion, while subsequent consolidations are occurring on relatively lower volume, suggesting healthy accumulation rather than distribution.

 

Structurally, the ₹152 - ₹150 zone now acts as a key demand area. As long as the price holds above this base, the bullish structure remains intact and favours a continuation toward the ₹175-resistance zone, followed by a potential test of the ₹180-target area.

INFY

Buy INFY in Cash ₹1,670, Stop-loss: ₹1,638, Target: ₹1,750

INFY is showing a strong trend reversal and continuation setup after a prolonged corrective phase. On the daily chart, the stock formed a clear Hammer candlestick on January 21, Exactly at the 20-day EMA around 1638, signalling strong buying interest and rejection of lower levels.

 

The Hammer formation, followed by bullish continuation, confirms demand-driven price action. Price has reclaimed and is sustaining above the 20 EMA and 50 EMA, with both averages turning upward, reflecting strengthening short-term momentum.

 

Volume remained relatively subdued during the pullback into support and expanded on the rebound, highlighting accumulation at lower levels.

 

Structurally, 1638 acts as the immediate support, aligned with the 20-day EMA and the Hammer low, while ₹1,600 remains the next major demand zone. As long as the price holds above these supports, the bullish setup remains intact.

 

On the upside, ₹1,750 stands as the first resistance, and a decisive breakout above this level would open the door for a further move toward the ₹1,800 resistance zone.

BAJAJ_AUTO

Buy BAJAJ_AUTO in Cash ₹9,413, Stop-loss ₹9,000, Target: ₹10,000

BAJAJ AUTO is trading in a well-defined uptrend, maintaining a strong bullish structure on the daily timeframe. The stock continues to form higher highs and higher lows, indicating sustained buying pressure.

 

Price is comfortably placed above the 20, 50, and 100 EMAs, all of which are sloping upward, confirming strong momentum across short- and medium-term trends. The 200 EMA remains well below the current price, reinforcing the long-term bullish bias.

 

Pullbacks toward the 20 EMA are being bought aggressively, while volume spikes are visible During bullish expansions, highlighting institutional participation.

 

Structurally, the 9000 zone acts as a key support area. As long as the price holds above this level, the trend remains intact and favours continuation toward 9900, followed by a potential retest of the 10,000 psychological level.

 

(Disclaimer: This article is by  Aakash Shah, technical research analyst, Choice Equity Broking. Views expressed are his own.)