Chambal Fertilisers, MGL among top March stock picks with up decent potential gains
Domestic brokerage firm SMIFS has suggested three stocks for decent gains in the short term, having a risk return ratio of 1:2 in the next 2-3 months.
- Mar 3, 2026,
- Updated Mar 3, 2026 10:37 AM IST
Indian stock markets have remained under a sharp selling pressure lately on the back of rising geopolitical concerns in the Middle East after military strikes on Iran, leaving investors hunting for the opportunities to make smart money. However, domestic brokerage firm SMIFS has suggested three stocks including Chambal Fertilisers & Chemicals Ltd, Mahanagar Gas and Tube Investments of India Ltd for decent gains in the short term, having a risk return ratio of 1:2. Here's what SMIFS say about these stocks:
Mahanagar Gas | Buy | Target Price: Rs 1,370 | Stop Loss: Rs 1,145
Mahanagar Gas Ltd (MGL) has confirmed a breakout above its descending trendline, signaling a structural reversal from a prolonged downtrend. Price has reclaimed the Rs 1,185–1,200 resistance zone with strong bullish candles, indicating supply absorption. The formation of higher highs and higher lows strengthens the emerging uptrend structure. MACD shows a strong bullish crossover with expanding histogram bars, while RSI is sustaining near 70, reflecting momentum strength. As long as price holds above Rs 1,185, the breakout remains valid, with upside potential toward Rs 1,370. A close below Rs 1,145 would weaken the bullish thesis.
Tube Investments of India | Buy | Target Price: Rs 3,135 | Stop Loss: Rs 2,570
Tube Investments has decisively broken above its long-term falling trendline and horizontal resistance near Rs 2,700, confirming a major structural trend reversal. The breakout is supported by strong bullish candles and improving volume participation. MACD remains firmly positive, and RSI is trending above 60, indicating sustained momentum without extreme overbought readings. Holding above Rs 2,650 keeps the bullish structure intact. Upside targets are projected toward Rs 3,135. A breakdown below Rs 2,570 would negate the breakout structure.
Chambal Fertilisers & Chemicals | Buy | Target Price: Rs 513 | Stop Loss: Rs 435
Chambal Fertilisers is forming a tightening symmetrical triangle pattern after recovering from its prior downtrend channel. Price is compressing near the Rs 459-460 resistance zone, suggesting an imminent volatility expansion. MACD has turned positive, and RSI is holding above 55, signaling improving momentum. Today’s close above Rs 460 could trigger momentum continuation toward Rs 513. However, failure to sustain above Rs 435 would invalidate the bullish setup and expose the stock to renewed selling pressure.
Indian stock markets have remained under a sharp selling pressure lately on the back of rising geopolitical concerns in the Middle East after military strikes on Iran, leaving investors hunting for the opportunities to make smart money. However, domestic brokerage firm SMIFS has suggested three stocks including Chambal Fertilisers & Chemicals Ltd, Mahanagar Gas and Tube Investments of India Ltd for decent gains in the short term, having a risk return ratio of 1:2. Here's what SMIFS say about these stocks:
Mahanagar Gas | Buy | Target Price: Rs 1,370 | Stop Loss: Rs 1,145
Mahanagar Gas Ltd (MGL) has confirmed a breakout above its descending trendline, signaling a structural reversal from a prolonged downtrend. Price has reclaimed the Rs 1,185–1,200 resistance zone with strong bullish candles, indicating supply absorption. The formation of higher highs and higher lows strengthens the emerging uptrend structure. MACD shows a strong bullish crossover with expanding histogram bars, while RSI is sustaining near 70, reflecting momentum strength. As long as price holds above Rs 1,185, the breakout remains valid, with upside potential toward Rs 1,370. A close below Rs 1,145 would weaken the bullish thesis.
Tube Investments of India | Buy | Target Price: Rs 3,135 | Stop Loss: Rs 2,570
Tube Investments has decisively broken above its long-term falling trendline and horizontal resistance near Rs 2,700, confirming a major structural trend reversal. The breakout is supported by strong bullish candles and improving volume participation. MACD remains firmly positive, and RSI is trending above 60, indicating sustained momentum without extreme overbought readings. Holding above Rs 2,650 keeps the bullish structure intact. Upside targets are projected toward Rs 3,135. A breakdown below Rs 2,570 would negate the breakout structure.
Chambal Fertilisers & Chemicals | Buy | Target Price: Rs 513 | Stop Loss: Rs 435
Chambal Fertilisers is forming a tightening symmetrical triangle pattern after recovering from its prior downtrend channel. Price is compressing near the Rs 459-460 resistance zone, suggesting an imminent volatility expansion. MACD has turned positive, and RSI is holding above 55, signaling improving momentum. Today’s close above Rs 460 could trigger momentum continuation toward Rs 513. However, failure to sustain above Rs 435 would invalidate the bullish setup and expose the stock to renewed selling pressure.