Stocks to buy: HAL, Mphasis and Infosys on investors' radar

Stock markets went into a tailspin on Tuesday with benchmark Sensex plunging by 1,390 points due to selling in IT and private banking shares amid heightened uncertainty ahead of the anticipated rollout of US reciprocal tariffs on April 2.

Stocks that were in focus include names like HAL, which rose 1.1% and Mphasis, which declined 2.2% and Infosys, whose shares declined 2.6% on Wednesday.

Here's what Ameya Ranadive, Sr Technical Analyst at StoxBox, recommends investors should do with these stocks when the market resumes trading today.

HAL

Hindustan Aeronautics Ltd (HAL) has exhibited a strong V-shaped recovery, currently trading at Rs 4,275. The stock is a "buy on dips" candidate, with an ideal entry around Rs 4,100 for an upside target of ₹4,750. A breakdown below Rs 3,800 would negate this bullish view. Technically, HAL is trading above its 20, 50, 100, and 200 EMAs, indicating a strong upward trend. Some profit booking may be seen in the near term, but the broader structure remains positive.

Key resistance levels are around Rs 4,556 and Rs 4,787, while support is near Rs 4,158 and Rs 3,943. The RSI is in the bullish zone, and momentum indicators suggest continued strength. can utilize dips for accumulation while maintaining risk.

Mphasis

Mphasis Ltd is currently trading at Rs 2,435 and remains in a no-trade zone. A decisive breakout above Rs 2,560 with sustained momentum is required to establish a directional trend. The stock is trading near its key moving averages, with resistance at Rs 2,559 and Rs 2,844. Immediate support lies around Rs 2,426 and Rs 2,341.

The RSI is hovering in a neutral zone, while MACD is yet to confirm strong bullish momentum. DMI suggests lack of a clear trend, indicating consolidation. A breakout above Rs 2,560 could trigger upside potential towards Rs 3,146, while failure to sustain may lead to further consolidation.

Infosys

Infosys Ltd is currently trading at Rs 1,525, having broken its recent trading range, indicating weakness. The stock is trading below key exponential moving averages (20, 50, 100, and 200), reinforcing a bearish sentiment. The breakdown suggests a "sell on rise" strategy unless a decisive breakout above Rs 1,640 occurs, which would negate the bearish view.

Immediate resistance is seen near Rs 1,570 and Rs 1,633, while support is placed at Rs 1,500 and Rs 1,370. Technical indicators such as RSI and MACD confirm a weak momentum, suggesting further downside potential.

Traders should exercise caution and consider short-selling opportunities on rallies, with strict stop-loss placement. A sustained move above Rs 1,640 is required to signal any reversal in the current downtrend.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)