Stock market today: Trade setup for Nifty 50 to Q4 Results; Eight stocks to buy or sell on Tuesday — 22 April 2025

Stock Market Today:  The equity markets started the news week on a strong note with benchmark Nifty-50 Index ending 1.15% higher at 24,125.55. The Bank Nifty gained 1.57% to 55,304.50, while most other sectors led by IT, Realty, Oil and gas gained with FMCG being the only exception. The broader markets also gained 2-2.5%.

Trade Setup for Tuesday

The Nifty has moved above the critical resistance of 24,100; therefore, it looks well on track to reach the 24,450–24,500 zone in the short term. On the lower end, support is placed at 23,850, said Rupak De, Senior Technical Analyst at LKP Securities ,

the recent major breakout area of 54,000-53,500 should reverse its role and act as support from short term perspective, as per Bajaj Broking

Global Markets and Q4 Results

There is optimism over U.S. Vice President JD Vance’s four-day visit to India on hopes of a bilateral trade deal between the two countries. We expect positive momentum to continue in the market, supported by strong domestic cues with stock/sector specific movements on the back of ongoing Q4 earnings announcements. Key results tomorrow include HCL Tech, Havells, AU Small Finance Bank, Tata Communications, Waaree Energies amongst others, said Siddhartha Khemka, Head - Research, Wealth Management, Motilal Oswal Financial Services 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 two stocks picks

These include Sudarshan Chemical Industries Ltd, Bharti Hexacom Ltd , Indian Railway Catering and Tourism Corporation Ltd  (IRCTC), Aditya Birla Capital Ltd , Usha Martin Ltd , Lemon Tree Hotels Ltd, Himatsingka Seide Ltd and Zee Entertainment Enterprises Ltd. 

Sumeet Bagadia's stock picks

1.Sudarshan Chemical Industries Ltd- Bagadia recommends Sudarshan Chemical at ₹1091.65 keeping Stoploss at ₹1050 for a target price of ₹1165

SUDARSCHEM daily chart analysis reveals a notable shift in market dynamics, transitioning from a period of minor declines and sideways consolidation to a promising upside bounce. This breakout has come after a prolonged consolidation phase that began in early March, followed by higher lows and consistent support near the ₹950- ₹1020 zone. The stock marked a fresh multi-month high, signalling a potential trend reversal and renewed investor interest. The strong bullish sentiment is further validated by a noticeable surge in trading volume

2. Bharti Hexacom Ltd - Bagadia recommends buying Bharti Hexacom at ₹1643.9 keeping Stoploss at ₹1585 for a target price of ₹1750

BHARTIHEXA is exhibiting strong bullish momentum, currently trading at an all-time high of 1665.4 levels. The recent breakout above the crucial resistance at 1610 levels is a significant technical development, supported by robust trading volumes, reinforcing the strength in the stock. The breakthrough suggests a potential continuation of the upward trend, offering an optimistic outlook for investors.

Ganesh Dongre's stocks to buy today

3. Indian Railway Catering and Tourism Corporation Ltd (IRCTC)- Dongre recommends buying IRCTC at ₹774 keeping stoploss at ₹760 for a target price of ₹800

In the recent short-term trend analysis of the stock, 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 Rs.800. At present, the stock is maintaining a crucial support level at Rs.760. Given the current market price of Rs. 774, 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.800

4. Aditya Birla Capital Ltd- Dongre recommends buying ABCAPITAL  at ₹204 keeping Stoploss at ₹195 for a target price of ₹220.

In the recent short-term trend analysis of the stock, 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 Rs.880. At present, the stock is maintaining a crucial support level at ₹195. Given the current market price of Rs. 204, 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. 220

5. Usha Martin Ltd - Dongre recommends buying Usha Martin at ₹313 with a stoploss at ₹303 for a target price of ₹330

In the recent short-term trend analysis of the stock, 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 Rs.330. At present, the stock is maintaining a crucial support level at Rs.303. Given the current market price of Rs.313, 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. 330

Shiju Koothupalakkal's intraday stocks for today

6.Lemon Tree Hotels Ltd - recommends buying Lemon Tree Hotels at ₹147.30 for a target price of ₹155 keeping Stoploss at ₹144

The stock has indicated a breakout above the resistance zone of 144 level with a strong bullish candle formation on the daily chart to strengthen the trend and can anticipate for further rise in the coming days. The RSI is well positioned and on the rise indicating strength having immense upside potential 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 155 keeping the stop loss of 144 level.

7. Himatsingka Seide Ltd- recommends buying  HIMATSINGKA SEIDE  at ₹151.80 for a target price of ₹164 keping Stop loss at ₹148

The stock has indicated a higher bottom formation taking support near 134 zone and with a decent pullback has once again moved past the 50EMA level at 148 to improve the bias and further rise can be expected. The RSI is well placed indicating a positive trend reversal to signal a buy and having much upside potential visible, it can carry on with the positive move further ahead. With the chart technically looking attractive, we suggest to buy the stock for an upside target of 164 level keeping the stop loss of 148 level.

8. Zee Entertainment Enterprises Ltd- recommends buying Zee Entertainment at ₹118.75 for a target price of ₹127 keeping Stoploss at ₹116

The stock has picked up well in the last 3-4 sessions breaching above the resistance zone of 112 level with rising volume participation visible to improve the bias overall and can expect for further rise. The RSI has gained momentum and is on the rise indicating a positive trend reversal to signal a buy. With the chart looking good, we suggest to buy the stock for an upside target of 127 keeping the stop loss of 116 level.

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.