Stock market today: Trade setup for Nifty 50 to global markets; 7 stocks to buy or sell on Monday— March 17, 2025

Stock Market Today: The market consolidation continued during the week ending 13 March 2025 as benchmark indices Nifty-50 and Sensex ended the week over half a per cent lower at 22,397.2 and 73,828.91, respectively. The Bank Nifty also ended with similar losses at 48,060.40.  Healthcare also held forte; however, auto, IT and realty were underperformers. The midcaps and small caps, however, ended 2-4% lower. 

Trade Setup for Monday

For Nifty-50 index the key breakout zone is at 22650, a breakout above which could push the market towards 22800-22900. Conversely, if the market falls below 22300, selling pressure is likely to accelerate and the market could retest levels of 22100-22000., said Amol Athawale, VP-technical Research, Kotak Securities. 

For the Bank Nifty, a double bottom support is placed at 47700. As long as it is trading above this level, a pullback formation is likely to continue

Global Markets Today

Looking ahead, all eyes are on the US Federal Reserve’s monetary policy review scheduled for March 19. While recent inflation data suggests a favorable trend, the possibility of an interest rate cut remains uncertain due to ongoing trade tensions however their commentary would be crucial.

Back home, market participants will closely monitor FII activity, as selling pressure from foreign investors has intensified once again after a brief slowdown. Any improvement on this front could provide some relief to the markets, said Ajit Mishra – SVP, Research, Religare Broking Ltd

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.

These include Avenue Supermarts Ltd (DMART), Archean Chemical Industries Ltd, Divis Laboratories Ltd, Sun Pharmaceutical Industries Ltd, ITC Ltd, Kalyan Jewellers India Ltd and Mangalore Refinery and Petrochemicals Ltd 

Sumeet Bagadia's stock pick

1] Avenue Supermarts Ltd (DMART) - Bagadia recommends buying Avenue Supermarts (DMART) at ₹3797.10, keeping Stoploss ₹3664 target price of ₹4063

DMART is trading at ₹3,797.10, displaying strong bullish momentum after rebounding from a key support zone. The stock has formed a bullish candlestick on the daily timeframe, accompanied by a notable increase in trading volume, indicating strong buying interest. In the short term, DMART appears poised for an upward move toward ₹4,063, supported by growing momentum. The Relative Strength Index (RSI) stands at 63.36, suggesting further upside potential.

2] Archean Chemical Industries - Bagadia recommends buying Archean at ₹570, keeping Stoploss at ₹550 TGT @ 610

ACI is trading at ₹570 and recovering following a sharp decline. The stock attempts to establish an uptrend after rebounding from lower levels and forming a series of higher highs and higher lows, indicating renewed bullish momentum. It has found strong support around ₹410, reinforcing the potential for further upside. Additionally, ACI has closed above its 20-day and 50-day EMAs and is approaching the 200-day EMA. A decisive close above this level would further validate the bullish outlook

Ganesh Dongre's stocks to buy today

3] Divis Laboratories Ltd- Dongre recommends buying DIVISLAB at ₹5615 keeping Stoploss at ₹5550 for a target price ₹5750.

In the recent short-term trend analysis of the stock, currently the stock is in 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 ₹5750. The stock is currently maintaining a crucial support level at Rs.5550. A buying opportunity is emerging given the current market price of Rs.5615. This suggests that investors might consider purchasing the stock at its current price, anticipating a rise towards the identified target of Rs.5750.

4] Sun Pharmaceutical Industries Ltd- Dongre recommends buying Sun Pharmaceutical at ₹1685, keeping Stoploss at ₹1640 for a target price ₹1720

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.1720. The stock is currently maintaining a crucial support level at Rs.1640. Given the current market price of Rs. 1685, 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.1720

5] ITC: Dongre recommends buying ITC Ltd at ₹411, keeping Stoploss at ₹405 for a target price of ₹420

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.420. The stock is currently maintaining a crucial support level at Rs.400-405. Given the current market price of Rs. 411, 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.420

Shiju Koothupalakkal's intraday stocks for today

6] Kalyan Jewellers India Ltd- Koothupalakkal recommends buying Kalyan Jewellers at ₹430 for a target price of ₹455, keeping Stoploss 420

The stock after witnessing a significant erosion recently from 590 zone has shown signs of bottoming out near 400 levels and has indicated a pullback to improve the bias. The RSI has indicated a positive trend reversal from the oversold zone, signalling a buy and has much upside potential from the current rate to carry on with the positive move. With the chart technically looking attractive with a favourable risk-reward ratio, we suggest buying the stock for an upside target of 455, keeping the stop loss at the 420 level.

7] Mangalore Refinery and Petrochemicals Ltd (MRPL) - Koothupalakkal recommends buying MRPL at ₹119.30 keeping Target price of ₹127 keeping Stoploss at ₹116

The stock has witnessed a significant revival from the bottom, made near 100 level, and currently, with a positive candle formation accompanied by huge volume participation, has improved the bias, and further rise can be expected in the coming sessions. The RSI has recovered strongly from the oversold zone and is currently on the rise, with immense upside potential visible from the current rate.  With the chart well positioned, we suggest buying the stock for an upside target of 127, keeping the stop loss of 116.

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.