Stocks to buy for long term: YES Securities bullish on these 10 stocks, expects 19-39% upside in a year—do you own any?

At first glance, it appears that the worst may be over for the Indian stock market. After five consecutive months of losses, the benchmark Nifty 50 index has risen nearly 6% in March.

This sharp rebound can be attributed to attractive valuations, improving macroeconomic conditions, and declining foreign capital outflows.

Nifty 50 settled 0.70 per cent higher at 23,350.40 on Friday, March 21. The index is still 11 per cent down from its peak of 26,277.35 reached on September 27 last year.

The road ahead will depend on how Q4 earnings unfold and how global factors, including US President Donald Trump’s tariff policies, evolve. Investors will also focus on upcoming macroeconomic data and the monsoon season in the coming months.

While experts largely remain positive about the Indian stock market’s long-term prospects, they suggest avoiding aggressive bets and picking quality stocks at this juncture.

Pritesh Mehta, Executive Vice President – Technical Analyst, Institutional Equities Research at YES Securities, recommends the following 10 stocks to buy for the next year. He expects these stocks to rise in the range of 19 per cent to 39 per cent. Do you own any of these stocks?

Stock picks

InterGlobe Aviation (IndiGo) | Previous close: ₹5,044.05 | Target price: ₹7,000 | Upside potential: 39%

The recent rally in IndiGo’s share price has surpassed the peak formed in September 2024, indicating strength in the structure and outperformance against the broader markets.

On the P&F (Point and Figure) chart, a bullish triangle breakout is at play after confirming ABC’s breakout. It has also staged a turtle break at the top of its trend.

“We expect a follow-through move to prevail with price projection towards ₹7,000 zone,” Mehta said.

Shriram Finance | Previous close: ₹676.80 | Target price: ₹890 | Upside potential: 32%

The ratio of Shriram Finance versus Nifty 50 is trending higher. Recently, it surpassed the peak of September 2024, implying Shriram’s outperformance against the Nifty 50 during the phase when the benchmark and broader market were correcting.

The standalone P&F (Point and Figure) chart, too, is displaying similar strength as it confirmed a move above its 45-degree downward sloping trendline.

“Bullish turtle breakout and anchor column follow-through move project an upside towards ₹890 zone,” Mehta said.

Tata Power Company | Previous close: ₹379.50 | Target price: ₹500 | Upside potential: 32%

Tata Power stock went through a phase of base consolidation around its two-year mean which coincides with the peak of tall green bar formed in December 2023, bringing an end to period of correction.

Recently, it has confirmed a breakout off this base.

“With multiple support in place around ₹325, we expect follow through move towards ₹490-500 zone,” Mehta said.

Chambal Fertilizers & Chemicals | Previous close: ₹597.05 | Target price: ₹770 | Upside potential: 29%

During the phase of weakness in broader markets, Chambal Fertilizers broke past its peak of June 2024, implying sign of strength in its broader structure.

Bullish turtle break and diagonal triple-top patterns are in play right now, following the bullish anchor column on the P&F (Point and Figure) chart.

“It has been sustained above its 10-column average since February 2025. Expecting a rally towards ₹770 level,” Mehta said.

Vedanta | Previous close: ₹467.30 | Target price: ₹600 | Upside price: 28%

Vedanta has been consolidating atop its trading range and holding above the peak of the green-tall bar seen in April 2024.

With Metals in momentum and outperforming the benchmark index, we expect strength to persist within this space.

Also, major global commodities (Industrials) are staging big base breakouts.

“With further deterioration in the dollar index likely, action will continue in this space. Rally towards ₹600 is expected based on the current P&F (Point and Figure) set-up,” Mehta said.

JSW Steel | Previous close: ₹1,058.70 | Target price: ₹1,340 | Upside potential: 27%

In the recent corrective phase, the metal index has been an outperformed.

The ratio chart of Nifty Metals versus Nifty 50 shows a break above the descending trendline after forming a base around its three-year mean.

With further deterioration expected in the greenback, metals will likely continue their recent outperformance.

“Within the metal space, JSW Steel has been moving higher with multiple bullish turtle breaks and follow-through moves; we expect a rally towards ₹1,340 with major support at ₹900,” said Mehta.

CG Power and Industrial Solutions | Previous close: ₹641.25 | Target price: ₹790 | Upside potential: 23%

CG Power is showing the traits of an uptrending counter as it created a base around its two-year mean and staged a reversal.

On the P&F (Point and Figure) chart, a bullish turtle break is seen, suggesting a resumption of an uptrend after a corrective move.

“Recently, recovery has confirmed a move above the three-digit Gann number of 625. We expect a follow-through move to persist towards ₹780-790 zone,” Mehta said.

Aavas Financiers | Previous close: ₹1,981.05 | Target price: ₹2,400 | Upside potential: 21%

Since mid-December 2024, Aavas Financiers stock has been sustaining above its 10-column average on the P&F (Point and Figure) chart, showing signs of reversal when broader markets were in a state of despair.

Since then, multiple bullish patterns have been in play.

“Bullish anchor column follow-through and bullish turtle breakout imply a continuation of recent momentum. We expect the rally to persist towards ₹2,400 zone,” said Mehta.

SRF | Previous close: ₹3,024.35 | Target price: ₹3,630 | Upside potential: 20%

“Our customised chemical index consumed time between 2021 and 2024 before breaking out in June 2024. However, the rally was short-lived as it peaked in October 2024,” said Mehta.

Mehta added that it found support around its three-year mean, which had earlier provided respite in 2020. Moreover, the internal breadth of some of the index’s components has been improving despite the correction in broader markets.

“Within the space, SRF is witnessing a series of bullish anchor columns and follow-through move, projecting an upside towards ₹3,630 zone,” said Mehta.

Bajaj Finance | Previous close: ₹8,916.10 | Target price: ₹10,600 | Upside potential: 19%

In early February, Bajaj Finance surpassed the multi-month hurdle (i.e., the peak of October 2021). Thereafter, it has been consuming time (atop of its trend).

Such consolidation after a big base break is termed bullish consolidation. Bajaj Finance has outperformed Nifty 50 and Nifty Financials index since the start of the year.

“Analysing the current ratio set-up, we expect a similar theme to prevail. The P&F (Point and Figure) chart of Bajaj Finance is witnessing a bullish anchor column follow-through. Sustenance above a two-digit Gann number of 86(00) would result in a shift in orbit, expecting a 22 per cent rally towards ₹10,600. Major support is seen at ₹7,850,” Mehta said.

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