Stock Market Today:
The Indian stock market has been experiencing a volatile trading session, with the Nifty 50 ending the day almost flat at 22,547.55. The Bank Nifty, on the other hand, ended with a marginal 0.09% decline at 48,608.35, with the auto and FMCG sectors leading the gains, while metals and realty being among the top laggards. The broader indices, however, ended 0.6-0.8% lower.
Trade Setup for Thursday
According to Shrikant Chouhan, Head-Equity Research at Kotak Securities, the immediate breakout level for the bulls is 22,600. If the market can breach this level, it could rise to 22,700-22,800. Conversely, if the market falls below 22,500, selling pressure is likely to accelerate.
Global Markets Today
On Thursday, the global markets will take cues from early trade, followed by a shift in focus to the monthly derivatives contracts’ expiry. We maintain our "sell on the rise" stance on the benchmark while advising a balanced approach in stock positions. Meanwhile, investors can start accumulating quality stocks available at attractive valuations.
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, has suggested three stocks. Shiju Koothupalakkal, Senior Manager – Technical Research, at Prabhudas Lilladher, has also given three stock picks.
Sumeet Bagadia’s Stock Picks
- Archean Chemical Industries Ltd. – Bagadia recommends buying Archean Chemical at around ₹497, keeping a Stop Loss of ₹480 for a target price of ₹532.
Trade Setup for Nifty 50 to Global Markets; 8 Stocks to Buy or Sell on Thursday— February 27, 2025
Why Archean Chemical?
Archean Chemical is trading at ₹497 and recovering from a sharp decline. After rebounding from lower levels, the stock is attempting to establish an uptrend and has found strong support around ₹410. It is now approaching its 20-day Exponential Moving Average (EMA), and a close above this level would reinforce a bullish reversal. The Relative Strength Index (RSI) is currently at 45.46 and trending upward, indicating increasing buying momentum. If Archean Chemical manages to break above the key resistance level of ₹510, it could potentially reach a short-term target of ₹532.
Ganesh Dongre’s Stock Picks
- Colgate-Palmolive (India) Ltd. – Dongre recommends buying Colgate-Palmolive at ₹2520, keeping a Stop Loss of ₹2460 for a target of ₹2600.
- Maruti Suzuki India Ltd. – Dongre recommends buying Maruti Suzuki India Ltd. at ₹12476, keeping a Stop Loss of ₹12250 for a target of ₹12750.
- Castrol India Ltd. – Dongre recommends buying Castrol India Ltd. at ₹217, keeping a Stop Loss of ₹210 for a target of ₹235.
Shiju Koothupalakkal’s Stock Recommendations
- Havells India Ltd. – Koothupalakkal recommends buying Havells at around ₹1547, for a target of ₹1610, keeping a Stop Loss of ₹1515.
- Chalet Hotels Ltd. – Koothupalakkal recommends buying Chalet Hotels at around ₹718.60, for a target of ₹760, keeping a Stop Loss of ₹705.
- Bharat Heavy Electricals Ltd. (BHEL) – Koothupalakkal recommends buying BHEL at around ₹194.60, for a target of ₹207, keeping a Stop Loss at ₹189.
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.
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