Stocks to Buy on Wednesday – Analyst picks 3 stocks for top gains – HPCL, GAIL, Torrent Power

Even as Nifty50 fell 0.6 per cent to end at 17,748.60 on Tuesday, Nifty Oil & Gas index ended at 7726, up 1.3 per cent. It was one of the three sectoral indices to close in the green. Oil and gas sector will remain in focus in the near to immediate term, technical analyst Nilesh Jain said.

Jain, who is Assistant Vice President (AVP), Equity Research Technical and Derivatives at Centrum Broking also picked a stock from power sector that investors must watch out for.

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He picked two stocks from this sector – Hindustan Petroleum Corporation Limited (HPCL) and GAIL (India) Limited as buys on Tuesday.

The technical analyst recommends HPCL for a target price of Rs 300 while a stop loss at Rs 286.

The stock ended at Rs 593 on Tuesday on the NSE, up 5.6 per cent from the last closing price on Monday.

He recommends GAIL for a price target of Rs 168 and a stop loss of Rs 155.50. This stock ended at Rs 159.30 on the NSE on Tuesday, up over 3 per cent from the Monday closing price.

Out of the 15 sectoral indices, 12 indices closed in the green.

He also picked a stock from the power sector and this stock is Torrent Power Limited. The stock ended up 1.8 per cent on Tuesday at Rs 503.90 per equity share.