LIC, Gujarat Ambuja Exports, MRPL: Anand Rathi suggests 3 stocks to buy in volatile markets

Indian stock markets kicked off the week with severe selling pressure and settled with big cuts on Monday as the Trump tariffs jolted the global equity markets. Potential risks of recession and Q4 earnings will guide the markets. BSE Sensex crashed 2,226.79 points, or 2.95 per cent to settle at 73,137.90 for the day, while NSE Nifty50 index nosedived 742.85 points, or 3.24 per cent to end the session at 22,161.60.

 

Jigar S Patel, Technical Research Analyst at Anand Rathi Shares and Stock Brokers has suggested some buzzing stocks including Life Insurance Corporation of India (LIC), Mangalore Refinery and Petrochemicals (MRPL) and Gujarat Ambuja Exports to long for the session today. Here is what he said about these stocks ahead of Tuesday's trading session:

 

Life Insurance Corporation of India | Buy | Target Price: Rs 820 | Stop Loss: Rs 730

LIC of India has recently formed an inverse head and shoulders pattern and successfully broken above the neckline, signalling a bullish reversal. In the last session, it retested the neckline and found support, reinforcing the bullish outlook. Interestingly, RSI also formed a similar pattern, mirroring price action and confirming strength. This alignment of price and momentum supports a long trade. We recommend buying in the Rs 760–770 zone, with a target of Rs 820 and a stop-loss below Rs 730 on a daily close.

 

Mangalore Refinery and Petrochemicals | Buy | Target Price: Rs 150 | Stop Loss: Rs 115

MRPL recently tested its previous breakout zone and reversed, indicating strong support. Additionally, the neckline of an inverse head and shoulders pattern adds bullish confirmation. This technical setup makes it an attractive buying opportunity. We recommend going long in the Rs 125–128 range, with a target of 150. To manage risk, a stop-loss should be placed below Rs 115 on a daily closing basis. The chart structure suggests potential for a solid upward move if support holds.

 

Gujarat Ambuja Exports | Buy | Target Price: Rs 142 | Stop Loss: Rs 103

Gujarat Ambuja Exports (GAEL) has formed an inverse head and shoulders pattern and recently broke above its neckline, signalling a bullish breakout. Despite Nifty falling 1,000 points in the previous session, GAEL recovered from Rs 107, maintaining its bullish daily structure. A bullish divergence on the stochastics further supports upside momentum. This confluence of signals makes it a strong buy candidate. We suggest going long in the Rs 115–118 zone, with a target of Rs 142 and a stop-loss at Rs 103.