Monday, February 24, 2025

Stock market today: Trade setup for Nifty 50 to Q3 results today; 5 stocks to buy or sell before Economic Survey 2025

Must read


Stock Market today: The Benchmark Nifty 50 index and the S&P BSE index ended Thursday with gains of 0.37% and 0.30%, respectively, at 23,249.50 and 76,759.81. The Bank Nifty, at 49,311.95, rose 0.30%. Realty, energy, and pharma were other key gainers, while IT and auto lagged. Broader indices ended nearly flat. 

Trade Setup for Friday

Nifty is encountering resistance around its 20-day EMA at 23,300, and a decisive close above this level is crucial. Otherwise, the index may face renewed pressure and again inch toward the 23,000–22,700 zone, said Ajit Mishra – SVP, Research, Religare Broking Ltd

Bank Nifty index has crossed and sustained above 49,200, making it an immediate support level, while the previous breakdown point of 49,650 which will act as a key hurdle, said Hrishikesh Yedve, AVP Technical and Derivatives Research at Asit C. Mehta Investment Interrmediates Ltd.

Global Markets, Q3 Results Today, Economic Survey 2025

The Indian markets concluded positively despite fluctuating between gains and losses. The fall in oil prices due to a rise in US inventories and ease in US 10-year yield after the US Fed’s hawkish view may decelerate FII outflow. The upcoming budget may be seen as an inflexion point, which will likely reverse the current bearish trend if the policies restore growth and consumption. As the long-term story is intact, investors are focusing on stocks and sectors where operational metrics and valuations are favourable, said Vinod Nair, Head of Research at Geojit Financial Services.

Stocks to buy today

Sumeet Bagadia, Executive Director at Choice Broking, has recommended two stock picks for today. Ganesh Dongre, Senior Manager of Technical Research at Anand Rathi, suggested three stocks.

Sumeet Bagadia’s stock recommendations today

1] Ami Organics Ltd– Bagadia recommends buying Ami Organics at 2358.65, keeping Stoploss at 2260 for a target price of 2525

Ami Organicsis presently trading at 2358.65 levels. On the daily chart, the stock has formed a strong bullish momentum candle, signifying a resurgence of strength in its price action. A robust support level is situated at 2260 levels. This confluence of support factors enhances the stock’s stability and resilience. Furthermore, it is trading above all the important moving averages, which underscores its overall bullish posture and trend.

2] Swaraj Engines Ltd– Bagadia recommends buying Swaraj Engines at 3333.35, keeping Stoploss at 3200 for a target price of 3550

Swaraj is currently positioned at 3333.35 levels and has shown robust upward momentum. The stock’s recent breakout was supported by significant trading volume, indicating strong investor interest. The chart reveals a steady climb, with the 20-day EMA trending upward and converging towards the 50-day and 100-day EMAs. This alignment of moving averages suggests a continuation of the bullish trend if supported by further buying pressure, affirming its inherent strength

Ganesh Dongre’s stocks to buy today

3] Syngene International Ltd– Dongre recommends buying Syngene at 762, keeping Stoploss at 745 for a Target Price of 790.

In the recent short-term trend analysis of the stock, it was found that the stock is currentlyin an oversold zone. Looking at the daily chart, a notable bullish reversal pattern has emerged. This technical pattern suggests the possibility of a temporary retracement in the stock’s price, potentially reaching around 790. The stock is currently maintaining a crucial support level at 745. A buying opportunity is emerging, given the current market price of 762. This suggests that investors might consider purchasing the stock at its current price, anticipating a rise towards the identified target of 790.

4] Granules India Ltd– Dongre recommends buying  Granules India at 560, keeping Stoploss at 540 for a target price of 595.

A notable bullish reversal pattern has emerged in the stock’s recent short-term trend analysis. This technical pattern suggests the possibility of a temporary retracement in the stock’s price, potentially reaching around 595. The stock is currently maintaining a crucial support level at 540. Given the current market price of 560, a buying opportunity is emerging. This suggests that investors might consider purchasing the stock at its current price, anticipating a rise towards the identified target of 595

5] Sun Pharmaceutical Industries Ltd– Dongre recommends buying Sun Pharma at 1740, keeping Stoploss at 1715 for a target price of 1775.

A notable bullish reversal pattern has emerged in the stock’s recent short-term trend analysis. This technical pattern suggests the possibility of a temporary retracement in the stock’s price, potentially reaching around 1775. The stock is currently maintaining a crucial support level at 1715. Given the current market price of 1740, a buying opportunity is emerging. This suggests that investors might consider purchasing the stock at its current price, anticipating a rise towards the identified target of 1775.

Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before taking any investment decisions.

Catch all the Business News , Market News , Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.

Business NewsMarketsStock MarketsStock market today: Trade setup for Nifty 50 to Q3 results today; 5 stocks to buy or sell before Economic Survey 2025

MoreLess





Source link

More articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest article