Stock Market Today: The benchmark Nifty-50 Index ended another volatile session at 22,470.50 down 0.12% on Wednesday. Bank Nifty, however, gained 0.42% to end at 48,056.65, while Auto, Pharma were other key gainers though Realty and Auto were key losers. Broader indices remained under pressure losing nearly half a percent each.

Trade Setup for Thursday

For Nifty, 22,300 would act as a sacrosanct support zone. Above this level, the market could move up to 22,600-22,650. On the flip side, a drop below 22,300 would make the uptrend vulnerable, said Shrikant Chouhan, Head Equity Research, Kotak Securities.

As long as the Bank Nifty holds above 47,840, a relief rally remains possible. On the upside, 48,800 will act as a key hurdle, said Hrishikesh Yedve, AVP Technical and Derivatives Research at Asit C. Mehta Investment Interrmediates Ltd. 

Global Markets Today

If the inflation remains high, the US Fed may delay interest rate cuts, which could in turn reduce IT spending. Capital market stocks declined on Wednesday as monthly systematic investment plan (SIP) inflows into mutual funds fell to a three-month low of ₹25,999 crore in February amid market volatility. The industrial output growth was above expectation at 5% YoY in Jan’25 against 3.2% in December. These factors are likely to infuse some positive into the markets on Thursday. Overall, we expect the market to remain range-bound with some volatility and sector rotation, 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 three stocks picks.

Sumeet Bagadia’s stock picks

1] Kamat Hotels (India) Ltd-  Bagadia recommends buying Kamat Hotels at ₹318.2, keeping Stoploss at ₹306 for a target price of ₹340

Kamat Hotels is exhibiting strong bullish momentum, currently trading at a 52-week high of 328 levels. The recent breakout above the crucial resistance at 300 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.

2] Gabriel India Ltd– Bagadia recommends buying Gabriel India Ltd, at ₹532.55, keeping Stoploss at ₹515 for a target price of ₹570

Gabriel India is currently positioned at 532.5 levels, has shown robust upward momentum. The stock’s recent breakout was supported by significant trading volume, indicating strong investor interest. The chart reveals a steady climb, with the 20-day EMA trending upward and converging towards the 50-day EMAs. This alignment of moving averages suggests a continuation of the bullish trend if supported by further buying pressure, affirming its inherent strength.

Ganesh Dongre’s stocks to buy today

3] Divis Laboratories Ltd– Dongre recommends buying Divis Laboratories at ₹5675 keeping Stoploss at ₹5550 for a target price of ₹5900.

In the recent short-term trend analysis of the stock, currently, 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 ₹5900. The stock is currently maintaining a crucial support level at Rs.5550. A buying opportunity is emerging given the current market price of Rs.5675. This suggests that investors might consider purchasing the stock at its current price, anticipating a rise towards the identified target of Rs.5900.

4] Sun Pharmaceutical Industries Ltd – Dongre recommends buying Sun Pharmaceutical  at ₹1675 keeping Stoploss at ₹1640 for a target price of ₹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. 1675, 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] Cipla Ltd –  Dongre recommends buying CIPLA at ₹1453, keeping Stoploss at ₹1435 for a target price of ₹1520.

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. 1520. The stock is currently maintaining a crucial support level at Rs.1435. Given the current market price of Rs.1453, 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. 1520.

Shiju Koothupalakkal’s intraday stocks for today

6] Voltas Ltd – Koothupalakkal recommends buying Voltas at ₹1445 for a target price of ₹1530 keeping Stop Loss at ₹1415

The stock has indicated a breakout above the resistance zone of the consolidation phase at ₹1425 levels. Moving past the important 50EMA at the ₹1434 level has improved the bias, with fresh upside movement anticipated in the coming sessions. The RSI is steadily on the rise, with strength indicated, and has much upside potential visible from the current rate. With the stock well-positioned and the chart technically looking attractive, we suggest buying the stock for an upside target of ₹1530, keeping the stop loss of ₹1415.

7] EIH Ltd– Koothupalakkal recommends buying EIH at ₹346 for a target price of ₹365, keeping Stoploss at ₹337.

The stock has witnessed a significant pullback from the 308 zone and, after a short period of consolidation, has once again picked up with a positive bullish candle formation on the daily chart to improve the bias, anticipating a further rise in the coming sessions. With the chart overall maintained with a positive bias and the RSI rising, there is much scope for further upward movement. With the chart looking good, we suggest buying the stock for a target of ₹365, keeping the stop loss of ₹337 level.

8] ITC Ltd– Koothupalakkal recommends buying ITC at Rs  412 for a target price of ₹435, keeping a Stoploss at ₹402

The stock has after the decent erosion witnessed has bottomed out near ₹390 zone and with a decent pullback indication has improve the bias technically. The RSI has recovered significantly from the oversold zone and has indicated a positive trend reversal to signal a buy and with immense upside potential visible from current rate, we expect further upward movement in the coming days. With the chart technically looking good, we suggest buying the stock for an upside target of ₹435, keeping the stop loss of ₹402.

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.