Stocks to buy: Sun Pharma, BEL among 4 shares Bajaj Broking's expert recommends for next 6 months

Stocks to buy: Stock market benchmark Nifty 50 extended gains for the second consecutive week, rising 0.77%, supported by easing geopolitical tensions and a sharp decline in crude oil prices, which have retreated to around $80 per barrel.

The return of foreign portfolio investors (FPIs) has also significantly boosted market sentiment.

The Nifty is attempting to close above the March 2026 bearish candle on the monthly chart.

"The March candle, with an open near 24,989 and a close around 22,331, has acted as a major resistance over the past few months. A decisive monthly close above this zone would signal a meaningful improvement in the medium-term trend and could pave the way for an extension of the rally towards the 25,200–25,300 zone during August," said Pabitro Mukherjee, Deputy Vice President - Technical at Bajaj Broking.

As per Mukherjee, the immediate support for the index is placed in the 24,200–24,000 region. This zone acted as a strong resistance during June and July, where the index spent considerable time trading below these levels before eventually breaking higher.

"According to the principle of role reversal, this previous resistance is now expected to act as a strong support on any corrective decline. Holding above this zone would keep the positive bias intact and provide a base for the next leg of the uptrend," said Mukherjee.

Mukherjee further highlighted that the index has successfully reclaimed the 200-day exponential moving average for the first time since breaking below it on 27 February 2026. Regaining this long-term trend indicator after nearly five months is an encouraging sign, suggesting that the broader market structure has turned constructive, with dips likely to attract buying interest.

Stock picks for the short term

Pabitro Mukherjee recommends buying the following four stocks for the next six months:

Sun Pharma | Buy in the range of ₹1,930 and ₹1,970 | Target price: ₹2,250 | Stop loss: ₹1,900

As per Mukherjee, Sun Pharma share price has registered a decisive breakout from a two-year consolidation pattern on the weekly chart, signalling the resumption of its long-term primary uptrend.

After the breakout, the stock has spent the last two weeks consolidating around ₹1,950, indicating healthy profit booking and absorption of supply without altering the broader bullish structure.

The stock continues to trade above its key long-term moving averages, while momentum indicators remain supportive.

The RSI has broken above its falling trendline and is sustaining above the 60 mark, whereas the MACD remains in positive territory with a bullish crossover, reflecting strengthening upside momentum.

"The immediate resistance is placed in the ₹2,000 to ₹2,047 zone. A decisive close above this hurdle would confirm the continuation of the breakout and place the stock on the verge of entering a fresh price discovery phase," said Mukherjee.

Bharat Electronics (BEL) | Buy in the range of ₹395 to ₹405 | Target price: ₹465 | Stop loss: ₹380

Mukherjee underscored that BEL has undergone a healthy correction after failing to sustain near its all-time high of ₹473 and is now approaching a strong demand zone around the 38.2% Fibonacci retracement level.

Mukherjee said the recommended buying range of ₹395–405 coincides with this support, while the stock is also trading near its medium-term moving average, enhancing the probability of buying interest emerging at lower levels.

Momentum indicators suggest that downside pressure is gradually easing. The RSI has moved closer to the oversold region and is showing signs of stabilisation, indicating that the ongoing decline is corrective rather than a reversal of the broader uptrend.

"As long as the stock holds above the key support area, the prevailing bullish structure remains intact," said Mukherjee.

Sagility | Buy in the range of ₹43 to ₹44 | Target price: ₹54 | Stop loss: ₹40

Mukherjee said Sagility continues to display a constructive technical setup on the weekly chart after delivering a breakout from a four-week consolidation pattern, signalling the resumption of the primary uptrend.

The stock has sustained above its 20-week EMA, indicating that buying interest continues to emerge on declines and the medium-term trend remains firmly positive.

Momentum indicators further reinforce the bullish outlook.

The RSI has broken above its falling trendline, reflecting improving momentum after the consolidation phase, while the MACD has generated a bullish crossover with the histogram turning positive, suggesting strengthening buying interest.

Central Mine Planning and Design Institute (CMPDI) | Buy in the range of ₹245 to ₹248 | Target price: ₹269 | Stop loss: ₹238

According to Mukherjee, CMPDI has maintained its medium-term uptrend despite witnessing a healthy correction after rallying nearly 85% from its April low to an all-time high of ₹283.70.

The recent seven-week decline has been corrective in nature, with the stock now breaking above the falling trendline drawn from the July high, signalling a positive shift in the near-term trend.

Momentum indicators are also turning favourable. The MACD is on the verge of a bullish crossover below the zero line, while the histogram continues to improve.

Additionally, the RSI has broken above its falling trendline and sustained above the 40 mark, indicating strengthening buying momentum.

"The overall price structure suggests the correction may have concluded, and the primary uptrend is likely to resume," said Mukherjee.

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Disclaimer: This article is for educational purposes only and does not constitute investment advice. 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.