Indian equity benchmark indices gave up gains and settled lower on Tuesday amid the renewed reports of military strike by the US in Iran, which pushed the crude oil prices higher and dented the prospects of recovery in the Indian rupee. The BSE Sensex dropped 479.26 points, or 0.63 per cent, to close at 76,009.70, while NSE's Nifty50 declined 118 points, or 0.49 per cent, to end at 23,913.70 for the day.

Select buzzing stocks including Life Insurance Corporation of India, Exide Industries and Chambal Fertilizers & Chemicals Ltd are likely to remain under the spotlight of traders for the session today. Here is what Rajesh Palviya, Head of Research at Axis Direct has to say on them ahead of Wednesday's trading session:
 

Chambal Fertilizers & Chemicals | Buy | Target Price: Rs 498-515 | Stop Loss: Rs 465
The stock has confirmed a trend reversal by forming a series of higher tops and bottoms on the daily charts. It has also decisively surpassed the multi-month resistance zone of 470 on a closing basis. The past couple of weeks showed huge volumes, indicating increased participation. The stock is well placed above the 20, 50, 100, and 200-day SMAs, which reinforces the bullish trend. The daily and weekly 'Bollinger Band' buy signal shows increased momentum. The daily, weekly and monthly RSI is in favourable territory, indicating rising strength across all time frames. Investors should consider buying, holding, and accumulating this stock. Its expected upside is 498-515, and its downside support zone is the 460–470 levels.
 

Life Insurance Corporation of India | Buy | Target Price: Rs 875-900 | Stop Loss: Rs 835
LICI confirmed resistance from a four-month on the daily chart, down-sloping trendline at the 830 level on a closing basis. The past couple of weeks showed huge volumes, indicating increased participation. The stock is well placed above the 20, 50, 100, and 200-day SMAs, which reinforces the bullish trend. The daily 'Bollinger Band' buy signal shows increased momentum. The daily, weekly and monthly RSI is in favourable territory, indicating rising strength across all time frames. Investors should consider buying, holding, and accumulating this stock. Its expected upside is Rs 875-900, and its downside support zone is the Rs 840–830 levels.
 

Exide Industries | Buy | Target Price: Rs 390-405 | Stop Loss: Rs 350
With the previous week's low (Rs 333), the stock witnessed a 50 per cent Fibonacci retracement of the prior upmove and rebounded sharply along with rising volumes. The daily, weekly and monthly RSI is in favourable territory, indicating rising strength across all time frames. The stock is well placed above the 20, 50, 100, and 200-day SMAs, which reinforces the bullish trend. Over the past couple of months, rising volumes show increased participation at lower levels.  Investors should consider buying, holding, and accumulating this stock. Its expected upside is Rs 390-405, and its downside support zone is the Rs 355–350 levels.