Stock Picks: Sagar Doshi suggests Tata Motors, Mphasis, Hero MotoCorp shares to buy today - 11 June

Stock market today: India's primary stock indexes opened slightly higher on Wednesday, reflecting gains in other Asian markets amid indications of progress in trade negotiations between the U.S. and important trading partners, including India and China.

The Nifty 50 increased by 0.12% to reach 25,134.15, while the Sensex rose by 0.1% to 82,473.02, as of 9:15 IST.

Analysts believe the market is likely to remain in a consolidation phase with a slight upward tendency. A definitive breakout above the Nifty 50 25,100 level and maintaining this level will require consistent large-scale buying. This could occur following positive developments concerning a U.S.-China trade agreement. News suggesting that both nations are close to finalizing the Geneva consensus is encouraging. China is effectively utilizing its ‘rare earth minerals card.’

Sagar Doshi of Nuvama Professional Clients Group recommends three stocks - Tata Motors, Mphasis, Hero MotoCorp. Here's what he says about the overall market.

Nifty 50 Outlook by Sagar Doshi, Senior Vice President- Research, Nuvama Professional Clients Group

Nifty 50

Nifty 50 has broken out from its 3 week consolidation and now stands at an eight month closing highs. With the index holding above 25,050 resistance level for the past 2 consecutive days. This confirms a breakout from the range for higher targets of 25,400 / 25,600 however the support is far below at 24,650. This is because past two days markets have closed lower than its open despite ending in green.

Bank Nifty

Bank Nifty broke out into fresh all-time highs after the monetary policy announcement as the index reclaimed its wall of worry. Outperformance of Bank Nifty is likely to continue for this week’s trade as well as the index resumes further upside towards 57,200 / 57,600 odd, however fresh longs are likely to provide good risk to reward only on dips towards 56,200.

Stock Picks: Stocks To Buy on Wednesday- Sagar Doshi

On stocks to buy on Wednesday, Sagar Doshi of Nuvama recommended three stocks - Tata Motors Ltd, Mphasis Ltd, and Hero MotoCorp Ltd.

Tata Motors (BUY): LCP: ₹732.25; SL: ₹712; TGT: ₹782

Tata Motors share price has seen a 5-7% corrective consolidation in the past 3 weeks of trade which was an after effect of sharp 40% rally before that. With supportive news flow for domestic players in the new EV policy acting as tailwind, passenger vehicle stocks are likely to see further momentum. Tata Motors is a cleaner set up amongst the peer on charts for another 6-8% rally from CMP.

Mphasis (BUY): LCP: ₹2,671.40; SL: ₹2,550; TGT: ₹2,870

After trading at an 18 month year low in April, Mphasis share price has been rising in a steep upward moving channel. A typical higher high – higher low formation underlines the bullish set up and inflows on the counter. The stock has widely outperformed its benchmark Nifty IT index on a YTD basis which is down over 12% while LTIM is down 6% in the same period of 2025. A move towards higher range of the bullish channel is likely to unfold for target of 2850-2900.

Hero MotoCorp (BUY): LCP: ₹4,379.00; SL: ₹4,150; TGT: ₹4,800

Having run up nearly 30% from its recent low in March – Hero MotoCorp share price is now on verge of breaking out from an inverse head and shoulder pattern formation for fresh upside retesting its December 2024 highs. A bullish flag breakout is about to commence for targets aimed 10% higher from CMP.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.