Stocks to buy: Sagar Doshi suggests Petronet LNG, MRPL, CCL Products shares to buy

Stock market today: Domestic equity markets faced renewed selling pressure on Wednesday morning as global signals weakened due to a new surge in tensions in the Middle East and significant declines in major technology stocks in the United States.

The benchmark indices started lower, reflecting a cautious outlook among investors. The Nifty 50 index commenced at 25,675.05, decreasing by 52.50 points or 0.20 percent, while the BSE Sensex opened at 83,252.06, sharply dropping by 487.07 points or 0.58 percent.

Market analysts pointed to increased global volatility as the cause of the sluggish opening.

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

Nifty 50

Nifty 50 has been on a roller coaster from the start of this calendar month with India VIX seeing over 80% gain in volatility from January 01, 2026. With large gap up opening unable to sustain, the gap between last week highs and yesterday’s low is likely to get filled sooner this month. This gap however, should be used to create longs with support seen at the rising 200 DMA for targets of 25,940 / 26,100.

Bank Nifty

Bank Nifty has already done, what we are expecting Nifty 50 to do, which is it has tested its last week’s highs in yesterday’s volatile session. Breaking of yesterday’s low and reversing near 59,700 odd is likely to be used as an opportunity to create fresh longs on the index, as Bank Nifty has experienced 59,650 as significant resistance over the past 9 weeks of trade and the same is likely to act as support based on classical technical thesis.

Stocks To Buy on Wednesday

On stocks to buy on Wednesday, Sagar Doshi of Nuvama recommended three stocks - Petronet LNG Ltd, Mangalore Refinery and Petrochemicals Ltd (MRPL), and CCL Products (India) Ltd.

Petronet LNG Ltd (BUY): LCP: ₹297; SL: ₹287; TGT: ₹324

After its initial breakout from 15 month sloping trendline, Petronet LNG had been lacking triggers making it wait within a 6-8% band. With the 200 DMA now supportively reclaimed and stock closing at 6 month highs, momentum buyers could come in. Given the set up an 8-10% rally can unfold.

Mangalore Refinery and Petrochemicals Ltd (MRPL) (BUY): LCP: ₹179; SL: ₹171; TGT: ₹195

MRPL has recovered over 30% in the last 9 trading sessions given its reversal from the 200 DMA support. A repetitive higher low formation was also seen on weekly charts of the same. Stock is on the verge of closing at 16 month highs on weekly charts if it retains at CMP until Friday’s close which also corresponds to an end to the stock’s 2 year corrective phase.

CCL (BUY): LCP: ₹981; SL: ₹944; TGT: ₹1,066

CCL had been consolidating for the past 12 weeks with a negative bias correcting over 15% from its all time highs. With lower high formations seen from the start of this calendar year and a trendline breakout of this consolidation seen this week, prices indicate a start of a fresh up move unfolding back to its previous highs.

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