Stocks to buy: Sagar Doshi suggests Dalmia Bharat, Gail, Godrej Consumer Products shares to buy

Stock market today: The domestic main indices, Nifty 50 and Sensex, continued to decline at the start of Wednesday, following a harsh selloff in the prior session, as global market and geopolitical worries, disappointing earnings, and ongoing foreign withdrawals led to the rupee hitting a record low.

The Nifty 50 dipped 0.36% to 25,141, while the BSE Sensex dropped 0.47% to 81,794.65 around 9:15 IST.

On Tuesday, the Nifty 50 and Sensex experienced declines of approximately 1.4% and 1.3%, respectively, marking their largest single-day percentage drop in over eight months and their lowest closing figures in over three months.

According to experts, equities have faced downward pressure due to heightened global trade tensions and geopolitical instability, triggered by U.S. President Donald Trump's threats to purchase Greenland and potentially reignite a trade conflict with the European Union, alongside a volatile season of domestic earnings characterized by underwhelming results from major players like Reliance Industries and ICICI Bank.

At the same time, the Indian rupee fell to a historic low on Wednesday, as risk aversion stemming from the Greenland controversy exerted additional downward pressure on the currency.

Nifty 50 Outlook by Sagar Doshi, Senior Vice President- Research, Nuvama Professional Clients Group

Nifty 50

Nifty 50 has corrected nearly 1,200 pts from its record highs printed earlier this month, pressure cascaded this week after the index broke below its 50% retracement mark near 25,500 and geopolitical headwinds. Initial downside target is seen at 200 DMA, which currently reads at 25,120 followed by a blip towards 24,900.

Bank Nifty

Bank Nifty has closed below its past 2 day’s low as the index rests once again at its 2 month rising trendline after completing 59,900+ target last week. A break below 59,300 is now seen as a trigger to open the index for 58,750 / 58,600.

Stocks To Buy on Wednesday

On stocks to buy on Wednesday, Sagar Doshi of Nuvama recommended three stocks - Dalmia Bharat Ltd, Gail (India) Ltd, and Godrej Consumer Products Ltd.

Dalmia Bharat Ltd (Buy): LCP: ₹2,191; SL: ₹2,116; TGT: ₹2,360

Stock has closed at 3 month high after forming a rounding pattern added by a higher low on daily charts. Sustained move above its 200 DMA is also likely to act as a tailwind for the stock to move higher in the short term.

Gail (India) Ltd (Sell): LCP: ₹161; SL: ₹168; TGT: ₹150

GAIL has ended at a 9 month closing low after witnessing repeated selling pressure ever since the gap down seen in last week of November 2025. A retest of its March 2025 low is now likely to be seen on cards.

Godrej Consumer Products Ltd (Buy): LCP: ₹1,234: SL: ₹1,206: TGT: ₹1,310

After a 15 month trendline breakout seen at the start of current calendar month, stock has been in sideways consolidation waiting for triggers. With mayhem witness in broader markets, FMCG basket could be the one seeing buying interest and hence a stock which has already broken out allows to read price action traces.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.