Stocks to buy or sell: Ajit Mishra of Religare Broking suggests strategies for these 3 shares. Do you own any?
The stock market rebounded on Thursday. However, concerns over crude oil and geopolitical factors persist. Ajit Mishra of Religare Broking highlights Aurobindo Pharma and BEL for their strong performances, indicating potential long positions amidst ongoing market volatility.
Stocks to buy or sell: The Indian stock market rebounded on Thursday, supported by improved global cues and buying in select heavyweights.
The Sensex jumped 900 points, or 1.14%, to close at 80,015.90. The NSE counterpart, the Nifty 50, jumped 1.17% to end at 24,765.90. The mid and small-cap segments, too, clocked strong gains. The BSE 150 MidCap Index jumped 1.44% and the BSE 250 SmallCap Index rose 1.38%.
"Investor sentiment improved amid a recovery in global markets and some easing of concerns surrounding geopolitical developments. Strength across Asian markets and buying in large-cap stocks helped lift domestic equities following the sharp correction in recent sessions," noted Ajit Mishra, SVP of Research at Religare Broking.
However, Mishra added that elevated crude oil prices and lingering geopolitical uncertainties continue to keep participants cautious.
Mishra pointed out that the rebound helped the Nifty move back above the 24,600 resistance level, though sustainability will be critical given the mixed global cues and the strong hurdle placed around the 24,800–25,000 zone.
On the downside, the 24,500–24,200 range is expected to act as an immediate support zone, said Mishra.
"In the current environment of heightened volatility, we reiterate our cautious stance and advise participants to remain selective while maintaining disciplined risk management when initiating fresh positions," said Mishra.
Stocks to buy or sell
Aurobindo Pharma | Previous close: ₹1,225.50 | Buy | Target price: ₹1,320 | Stop loss: ₹1,180
Mishra underscored that the pharmaceutical sector is demonstrating notable resilience despite the broader market’s corrective tone, and Aurobindo Pharma is moving in line with this strength.
The stock has formed a broad consolidation base around its long-term 200-week exponential moving average, indicating a stable underlying trend.
Recently, the price rebounded from a strong support zone created by a cluster of key moving averages, signalling renewed buying interest and establishing a potential pivot for fresh long positions.
This price action suggests accumulation within the ongoing consolidation range.
"Supported by the steady performance of the pharma sector and Aurobindo Pharma’s firm price structure, the overall outlook remains positive. At the mentioned levels, initiating long positions in Aurobindo Pharma may be considered, while maintaining disciplined risk management," said Mishra.
Bharat Electronics (BEL) | Previous close: ₹460 | Buy | Target price: ₹500 | Stop loss: ₹440
Mishra highlighted that BEL continues to stand out within the defence space as a relative outperformer, maintaining strength even at elevated price levels.
After consolidating for more than a year, the stock delivered a decisive breakout from a trend-continuation pattern, signalling the potential start of the next upward leg.
Following the breakout, BEL traded within a range and formed an elevated base near its neckline, aligned with the 20-day EMA.
The stock has now broken out of this range, indicating continuation of the prevailing uptrend.
"Considering the constructive technical setup and the favourable outlook for the defence sector amid ongoing geopolitical tensions, BEL remains a preferred long candidate, with buying considered within the mentioned range," said Mishra.
Hindustan Unilever (HUL) | Previous close: ₹2,262 | Sell Futures | Target price: ₹2,205 | Stop loss: ₹2,290
Mishra noted that the FMCG sector is currently showing mixed trends, with Hindustan Unilever among the relative laggards in recent months.
The latest pullback has stalled near the 200 EMA, reinforcing the prevailing bearish bias.
"The stock has slipped below its established trading range, breached key intermediate support levels, and formed a bearish continuation pattern, suggesting the possibility of further downside. Traders may consider initiating short positions in futures at the specified levels," said Mishra.
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Disclaimer: This story is for educational purposes only. The views and recommendations expressed are those of the expert, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.
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Nishant is a market reporter at Mint, where he holds the official designation of Principal Correspondent – Markets. He has been closely tracking the Indian stock market as well as major global stock markets along with the broader macroeconomic trends for a decade. <br><br> He is obsessed with breaking down complex financial and economic concepts into clear and engaging stories. He focuses not only on what is happening in the markets, but also why it matters. <br><br> His coverage includes stock market trends, sector rotations, monetary and fiscal policy developments, inflation, growth data, and personal finance strategies. <br><br> With nearly 10 years of experience in covering financial markets, Nishant has covered bull markets, corrections, policy transitions, and macro developments that has equipped him with a deep understanding of how domestic and global forces shape markets and affect investments. <br><br> He regularly interviews market veterans, fund managers, economists, policymakers, and corporate leaders to provide readers with a 360-degree view of market dynamics and the broader economic landscape. <br><br> Before joining Mint, Nishant worked with some of India’s most respected business newsrooms, including The Economic Times and Moneycontrol, where he reported extensively on the stock market, corporate earnings, macroeconomic trends, GDP, inflation, monetary policies of the RBI and the US Federal Reserve, bonds, and currencies. <br><br> Apart from economics and investing, he has interests in geopolitics and emerging technologies, such as AI.
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