Ajit Mishra of Religare Broking recommends buying these three stocks today

Nifty: CMP: 23,322.95

For the third straight day, markets remained in a narrow range and ended with slight gains. After an initial uptick, Nifty rose during the early hours, but profit-taking in select heavyweights trimmed the gains. 

It ultimately settled at 23,322.95, up by 0.2 per cent. Sectoral trends were mixed, with energy, financials, and metals closing higher, while FMCG and auto sectors were subdued. Broader indices continued to show buoyancy, each gaining over a percent.

Following three days of consolidation, markets are expected to react to the US Fed meeting outcome in early trades on Thursday, which could set the tone for the day. We anticipate Nifty to hold within the 23,000-23,100 range if there is a dip, while the 23,600-23,800 range may act as immediate resistance.

Amid these conditions, we reiterate our recommendation to seek buying opportunities on dips, focusing on sectors and themes that are attracting consistent interest.

Stocks Recommendations
 

NMDC LIMITED | LTP: Rs 263 | Buy |Target: Rs 286 | Stop-loss: Rs 252

The stock has consistently outperformed and shows a clear uptrend. During the recent correction, it found support near its previous resistance zone and established a strong base around the 20 EMA. It is now moving higher from this base, accompanied by an increase in price and volume activity.

SUN PHARMACEUTICAL INDUSTRIES LIMITED |LTP: Rs 1506.85 |Buy |Target: Rs 1600 |Stop-loss: Rs 1470

Pharma sector has witnessed a fresh breakout from the consolidation to record high levels and Sun Pharma is offering a fresh buying opportunity. It has registered a breakout from an elevated base which has formed at the confluence of the support. It has a support zone of 38.2 per cent retracement line and long term moving average i.e. 100 DEMA. Traders can consider fresh longs around the current levels.

PETRONET LNG LIMITED |LTP: Rs 320.55 |Buy |Target: Rs 345| Stop-loss: Rs 307

Petronet has been in a strong uptrend for the last five months and currently trading around its record high. It has ended a 2-month long consolidation phase of late, indicating the prevailing trend to continue.

(Disclaimer: Ajit Mishra is SVP of research at Religare Broking Ltd. Views expressed are personal.)