Stocks to buy: The Indian stock market is facing selling pressure as the Middle East conflict has driven crude oil prices higher, threatening to hurt not only India’s economy but also the earnings for a dozen sectors on Dalal Street.
The Middle East tensions escalated after the US and Israel stepped up their war against Iran, while Tehran threatened a full closure of the Strait of Hormuz — a crucial waterway for the movement of crude. This has driven Brent crude prices above $80 a barrel, which bodes well, especially for India, which imports almost 85% of its energy needs and has been enjoying stable crude oil prices for a few years now.
The Iran-US-Israel war has sparked a risk-off sentiment, prompting investors to dump global equities, including Indian and take up shelter in safe-haven assets like gold and the US dollar.
The BSE Sensex lost almost 1,050 points on Monday, while the Nifty 50 closed at 24,865, shedding over 1% each.
Stocks to buy
However, against this backdrop, Axis Securities is bullish on 3 stocks that it believes have the scope to offer up to 22% returns in a month. Among its stocks to buy are: Glenmark Pharma, Tube Investments and Chennai Petroleum.
Glenmark Pharma | Buy range: 2110-2068 | Stop loss: ₹2020 | Upside: 7-10%
On the weekly chart, Glenmark Pharma has delivered a decisive breakout above the symmetrical triangle pattern formed since July 2025, breaching the 2,100 mark with a strong bullish candle and confirming the continuation of the medium-term uptrend.
The breakout is further reinforced by a close above the weekly upper Bollinger Band, triggering a fresh buy signal and highlighting expanding momentum, said the brokerage.
As the momentum indicators remain firmly supportive, the brokerage sees Glenmark Pharma share price target of ₹2,227-2,300 in the next 3-4 weeks.
Tube Investments of India | Buy range: ₹2725-2671 | Stop loss: ₹2500 | Upside: 15-22%
On the weekly chart, Tube Investments India has staged a decisive breakout above the downward-sloping trendline in place since October 2024, surpassing the 2,730 level with a strong bullish candle and signalling the onset of a medium-term uptrend, said Axis Securities.
The move, according to the domestic brokerage, was backed by a sharp surge in volumes, underscoring strong market participation and conviction behind the breakout.
Furthermore, closing above the daily upper Bollinger Band and the crossing of the RSI line have reinforced the overall bullish outlook. Therefore, Axis Securities expects Tube Investments India’s share price to rise to ₹3,093-3,300 in the said time period.
Chennai Petroleum Corporation | Buy range: ₹945-926 | Stop loss: ₹877 | Upside: 13-15%
On the weekly chart, Chennai Petroleum trades within a well-defined rising channel. The energy stock recently rebounded from the lower band of the channel and is now advancing toward the upper band, indicating sustained upward momentum, said Axis Securities.
Additionally, the stock has formed a solid medium-term base near the 50% Fibonacci retracement of the Mar’25–Nov’25 rally, placed around 770, followed by a sharp and decisive bounce, the brokerage added.
Momentum indicators further strengthen the outlook, and now the brokerage sees Chennai Petroleum stock poised to hit 1,053-1,080 levels in the next 3-4 weeks.
Disclaimer: This story is for educational purposes only. 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.
