Market Trading Guide: Bajaj Auto among 7 stock recommendations for Thursday

Indian equities ended lower as the ongoing US-Iran standoff and Houthi-led disruptions to key global shipping routes heightened concerns over potential oil supply disruptions, driving crude prices higher and weakening the rupee. The risk-off sentiment due to renewed concerns over domestic inflation overshadowed better-than-expected business updates and encouraging Q1 earnings results.
Here are 7 stock recommendations for Thursday:

Bosch is witnessing a healthy pullback after a sharp rally, with the stock currently retesting the previous breakout zone around Rs 40,000-40,500, which is expected to act as strong support. Despite the short-term correction, the stock continues to trade well above its key long-term moving averages, indicating that the broader trend remains positive.

Virat Jagad, Sr Technical Research Analyst, at Bonanza Portfolio

Balrampur Chini Mills has delivered a decisive breakout above the key resistance zone near Rs 600, backed by strong volumes, confirming renewed buying interest and continuation of the prevailing uptrend. The stock is trading above all major moving averages (20/50/100/200 EMA), reflecting strong bullish momentum, while RSI has moved above 70, indicating strength though with slightly overbought conditions.

Virat Jagad, Sr Technical Research Analyst, at Bonanza Portfolio

Bajaj Auto has resumed its primary uptrend after completing a Cup and Handle formation on the daily chart, signalling a continuation of bullish momentum. The stock has recently broken above the handle formation and is sustaining above the breakout level, indicating renewed buying interest. The price is trading above its 20-DMA, 50-DMA and 200-DMA, with the shorter-term moving averages trending higher, reflecting a strong positive trend across multiple timeframes.

Vaishali Patel, Deputy Manager – Research, Technical Department at Jainam

InterGlobe Aviation is showing signs of a probable Stage-2 entry after reversing from its prior corrective phase and establishing a series of higher highs and higher lows. The stock has reclaimed its key moving averages, indicating an improving trend structure and renewed institutional participation. Following a strong rally, the stock is currently witnessing a healthy pullback within a falling channel or flag formation, which appears to be a continuation pattern rather than a trend reversal.

Vaishali Patel, Deputy Manager – Research, Technical Department at Jainam

Info Edge has exhibited a strong improvement in its technical structure after delivering a decisive breakout above the long-standing 1,060 resistance zone. The breakout was accompanied by a sharp rise in volumes, indicating robust institutional participation and signalling the beginning of a fresh upward leg. Following the breakout, the stock is undergoing a healthy consolidation within a bullish flag pattern, suggesting that the recent rally is being digested without any significant deterioration in price structure.

Vaishali Patel, Deputy Manager – Research, Technical Department at Jainam

Nestle India is displaying a constructive technical setup after witnessing a healthy consolidation within an ongoing uptrend. The stock has formed a bullish rounding-bottom pattern, indicating gradual accumulation following its prior rally. Prices are now attempting to resume the primary uptrend after finding support near the neckline of the formation.
Vaishali Patel, Deputy Manager – Research, Technical Department at Jainam

Asian Paints is exhibiting a constructive technical setup after a strong recovery from lower levels and is currently undergoing a healthy consolidation above its key moving averages. The stock continues to trade above the 20-day, 50-day and 200-day EMAs, indicating that the broader trend remains positive despite the recent sideways movement. After rallying sharply, the stock has entered a narrow consolidation phase, suggesting profit booking at higher levels while buyers continue to defend lower levels.
Vaishali Patel, Deputy Manager – Research, Technical Department at Jainam
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)