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.
