Stock market today: Trade setup for Nifty 50 to Q4 Results; Eight stocks to buy or sell on Monday — 21 April 2025

Stock Market Today: The benchmark Nifty-50 index during the week ended 17 April ended with gains of up to 4.5% week on week. While Bank Nifty gained more than 6%, Realty was also among to performers though IT & FMCG were key losers. The broader indices also gained around 4% each.

Trade Setup for Monday

The levels of 23,500and 23,350 would act as key support zones for the Nifty-50 index, while resistance areas for the bulls could be found between 24,000 and 24,200. However, if the market dips below 23,350, sentiment could change said Amol Athawale, VP-technical Research, Kotak Securities.

The uptrend is likely to continue for Bank Nifty and the index could move up to around 54,500-55,000, with further upside potential that might lift it to 55,300, added Athawale.

Global Markets and Q4 Results

In the upcoming week, all eyes will be on the earnings reports of heavyweights such as Infosys, HDFC Bank, and ICICI Bank. Additionally, companies like HCL Technologies, Axis Bank, Hindustan Unilever, and Maruti are scheduled to announce their quarterly results. On the derivatives front, the scheduled expiry of April series contracts may lead to increased volatility. Globally, any updates related to tariffs and their potential impact on world markets will remain in focus, said jit 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 two stocks picks. Sugandha Sachdeva, Founder of SS WealthStreet has recommended selling one stock today.

These include Max Financial Services , Affle (India) Ltd , HEG ltd, Punjab National Bank , Tourism Finance Corporation of India Ltd , CG Power and Industrial Solutions Ltd, Gujarat State Fertilizers & Chemicals Ltd and IOL Chemicals & Pharmaceuticals Ltd 

Sumeet Bagadia's stock picks

1] Max Financial Services Ltd-  Bagadia recommends buying Max Financial Services at ₹1218 keeping Stoploss at ₹1175 for a target price of ₹1303

Max Financial Services is currently trading at the levels of 1218, chart is showing a strong upward trend on the daily chart, recovering significantly from its recent lows and breaking past previous consolidation levels. The stock has been forming a sequence of higher highs and higher lows, indicating bullish momentum.

2] Affle (India) Ltd- Bagadia recommends buying Affle at ₹  1566 keeping stoploss at Rs1511 for  a target price of ₹1676

AFFLE is currently trading at ₹1566, having recently rebounded from a key support zone, notably taking support at the 200-day Exponential Moving Average (EMA). The formation of a strong bullish candlestick on the daily chart, backed by rising trading volumes, suggests renewed buying interest and a potential shift in momentum.From a technical perspective, the stock is trading above its 20-day, 50-day, and 200-day EMAs, indicating strength and alignment with the prevailing uptrend

Ganesh Dongre's stocks to buy today

3] HEG: Dongre recommends buying  HEG at ₹480 keeping Stoploss at ₹470 for a target of ₹510

In the recent short-term trend analysis of the stock, a notable and continuous bullish pattern has emerged. This technical pattern indicates the potential for an extended retracement in the stock’s price, with the possibility of reaching the target level of Rs. 510. The stock is currently holding a critical major support level at Rs. 470, which serves as a key marker for risk management.

Given the prevailing market conditions, traders are advised to consider taking a buy position, capitalizing on the bullish momentum. 

4] Punjab National Bank -Dongre recommends buying Punjab National Bank (PNB) at ₹99 keeping Stoploss at ₹95 for a target price of ₹105

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.105. At present, the stock is maintaining a crucial support level at Rs.95 Given the current market price of Rs.99, 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.105

5] Tourism Finance Corporation of India Ltd - Dongre recommends buying Tourism Finance Corporation of India at ₹ 175 keeping Stoploss at ₹168 for a target price of ₹185.

In the recent short-term trend analysis of the stock, currently stock is into oversold zone. Looking towards 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 ₹185. At present, the stock is maintaining a crucial support level at Rs.168. Given the current market price of Rs. 175, 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.185.

Shiju Koothupalakkal's intraday stocks for today

6] CG Power and Industrial Solutions Ltd- Koothupalakkal recommends buying CG POWER  at around ₹619.80 for a target price of ₹655 keeping Stop loss at ₹605

The stock has recovered strongly from the bottom made near 520 level and with a positive candle formation has moved past the 50EMA at 614 level to improve the bias on the daily chart and further rise is anticipated in the coming sessions. The RSI is well positioned indicating a positive trend reversal and has immense upside potential to carry on with the positive move further ahead. With the chart looking good, we suggest to buy the stock for an upside target of 655 keeping the stop loss of 605 level.

7] Gujarat State Fertilizers & Chemicals Ltd- Koothupalakkal recommends buying Gujarat State Fertilizers & Chemicals (GSFC) at ₹193 for a target price of ₹205 keeping  Stop loss at ₹188

The stock has indicated a breakout above the 187 zone with a positive candle formation also decisively moving past the 50EMA level at 185 zone in the previous session to improve the bias and has potential to carry on with the positive move further ahead. The RSI is well positioned and with a buy signal confirmed, has indicated strength with much upside potential visible. With the chart technically looking attractive, we suggest to buy the stock for an upside target of 205 level keeping the stop loss of 188 level.

 8] IOL Chemicals & Pharmaceuticals Ltd- Koothupalakkal recommends buying IOL Chemicals at around ₹66.70 for a target price of ₹70  keeping Stop loss at ₹ 65

The stock has witnessed a significant positive move with huge volume participation to move above the important 50EMA level at 66.40 on the daily chart to improve the bias and further rise is expected in the coming sessions. The RSI is on the rise and is well placed indicating a positive trend reversal and has much upside potential from current rate. With the chart looking good, we suggest to buy the stock for an upside target of 70 keeping the stop loss of 65 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.