Religare's Ajit Mishra Recommends Three Stocks for Short-Term Gains
Indian Stock Market Update
Market Performance
The Indian stock market witnessed high volatility on February 27, with the Nifty 50 declining by 0.60% to 25,351 in morning trade, tracking weak global cues after the US-Iran talks ended without any deal. All sectoral indices on the NSE, except IT and Media, were in the red around 10 am.
Technical Analysis
According to Ajit Mishra, SVP of Research at Religare Broking, a Nifty holding above 25,400 will indicate that support remains intact. However, the risk of further correction could persist until the index decisively surpasses the immediate hurdle at 25,600.
Stock Picks for the Short Term
Ajit Mishra recommends buying the following three stocks for the next 1-2 weeks:
1. Indian Oil Corporation (IOC)
- Target price: ₹198
- Stop loss: ₹181
The stock has shown encouraging strength in the oil marketing space after confirming a breakout from a Cup-and-Handle formation. It has entered a healthy consolidation phase, forming an elevated base above the neckline and its 20-day EMA, indicating sustained buying interest and strong underlying demand.
2. Samvardhana Motherson International
- Target price: ₹149
- Stop loss: ₹128
The stock has maintained a well-defined uptrend since April 2025 after rebounding from its 200-week EMA support. It continues to register a sequence of higher highs and higher lows, highlighting a sustained bullish structure as it gradually approaches its record-high zone.
3. TVS Motor Company
- Target price: ₹4,230
- Stop loss: ₹3,810
The automobile sector is currently among the top-performing segments in the market, and TVS Motor remains a notable outperformer within the space. The stock has recently witnessed a fresh breakout, accompanied by a meaningful increase in volume, signalling strong market participation and the likelihood of continued upside in the near term.
Investor Takeaway
Maintain a stock-specific approach and focus on sectors showing relative strength.
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