Stock market today: Trade setup for Nifty 50 to global markets; 8 stocks to buy or sell on Friday— March 21, 2025

Stock Market Today: Positive global cues helped Benchmark Nifty 50 index gain 1.24% to end at 23,190.65 on Thursday. Bank Nifty at 50,062.85 was up 0.72% while all other sectors led by Realty, FMCG, IT, Healthcare ended in the green . Even Broader indices edged higher, each adding over half a per cent.

Trade Setup for Friday

In the near future, 23,100 and 23,000 or (the 50-day SMA) will be key support zones for Nifty-50 index, while 23,300 and 23,400 could serve as key resistance areas for day traders. However, if the market falls below 23,000, sentiment could change, said Shrikant Chouhan, Head Equity Research, Kotak Securities:

Hrishikesh Yedve, AVP Technical and Derivatives Research at Asit C. Mehta, said the bullish momentum is expected to continue as long as Bank Nifty remains above 49,650.

Global Markets Today

“Consistent falls of the US dollar index (DXY) have reduced the intensity of FII selling while DII buying continues to be strong, thus triggering the recent upside. Supportive domestic data indicating a MoM rise in economic activity and the view that more rate cuts are envisaged during the year are adding to the attractiveness of equity. The sustenance of the ongoing rally is expected to stay for the broad market in the short term and then drive based on the outlook on Q4FY25 results, to be released in April, said Vinod Nair, Head of Research, 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, while Shiju Koothupalakkal, Senior Manager — Technical Research, at Prabhudas Lilladher has given three stocks picks

Sumeet Bagadia’s stock picks

1] AAVAS Financiers: Bagadia recommends buying AAVAS at ₹1980, keeping Stoploss at ₹1911 for a target price of ₹2119

AAVAS is currently trading at ₹1980, having recently rebounded from the 200-EMA support level on the weekly timeframe while showing a sharp recovery on the daily chart. The stock has formed a strong bullish candle, signalling a sustained long-term reversal. Increasing trading volumes further reinforce this positive outlook, indicating strong buying interest. Given this momentum, AAVAS appears poised to target ₹2119 in the short term.

2] Ipca Laboratories Ltd– Bagadia recommends buying Ipca Laboratories at ₹1402.20, keeping Stoploss at ₹1353 for a target price of ₹1500

IPCALAB is currently trading at ₹1402.20, having recently rebounded from a key support zone. The stock has formed a bullish candle and broken out of a falling trendline on the daily timeframe. This breakout signals a potential trend reversal, supported by rising trading volumes, indicating strong buying interest.In the short term,

Ganesh Dongre’s stocks to buy today

3] Castrol India: Dongre recommends buying Castrol at ₹216, keeping Stoplloss at ₹207 for a target price of ₹230.

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 ₹230. The stock is currently maintaining a crucial support level at Rs.207. Given the current market price of Rs.216, 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 Rs.230.

4] Navin Fluorine International: Dongre recommends buying Navin Fluorine at ₹4163, keeping Stoploss at ₹4080 for a target price ₹4300

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 Rs.4300. Currently, the stock is maintaining a crucial support level at Rs.4080. A buying opportunity is emerging given the current market price of Rs.4163. This suggests that investors might consider purchasing the stock at its current price, anticipating a rise towards the identified target of Rs.4300

5] Jindal Saw: Dongre recommends buying Jindal Saw at ₹286 keeping Stoploss ₹278 target price ₹295.

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 Rs. 295. The stock is currently maintaining a crucial support level at Rs.278. Given the current market price of Rs.286, 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 Rs. 295.

Shiju Koothupalakkal’s intraday stocks for today

6] Maruti Suzuki India: Koothupalakkal recommends buying Maruti Suzuki India Ltd at ₹11730 for a target price of ₹12200, keeping Stoploss at ₹11530

The stock has witnessed a strong consolidation phase near the 11450 and 11740 levels, gathering strength, with currently showing signs of positive built-up on the daily chart moving past the important 100 period MA at the 11680 level and also is on the verge of a breakout above 11740 zone to trigger for fresh upward move. The RSI has shown improvement from the oversold zone to indicate a positive trend reversal, signalling a buy, and has much upside potential from the current rate to carry on with the positive move. With the chart technically looking good and the risk-reward much more favourable, we suggest buying the stock for an upside target of 12,200, keeping the stop loss of 11,530.

7] Bharat Dynamics: Koothupalakkal recommends buying Bharat Dynamics at ₹1247 for a Target price of ₹1320, keeping Stop Loss 1215.

After a decent consolidation phase, the stock has witnessed a strong move from the 1140 zone in the last two sessions, gaining strength. There is further scope for upward movement in the coming days, with the RSI gathering strength. The positive move can continue further ahead. With the chart well positioned on the daily time frame, we suggest buying the stock with a target of 1320, keeping the stop loss at the 1215 level.

8] TD Power Systems: Koothupalakkal recommends buying TD Power Systems at ₹377 for a target price of ₹395, keeping Stop Loss 367.

The stock has recovered significantly from the low made near 320 zone and has moved past the important 50EMA level at 360 zone to improve the bias anticipating for further rise in the coming sessions. There is positive built-up in the stock with volume participation on the rise and with the RSI gaining strength, we expect further gains to carry on with the positive move further ahead. With the chart technically looking good, we suggest to buy the stock for an upside target of 395 keeping the stop loss of 367.

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 making any investment decisions.