Today's stock market includes the Nifty 50 trade setting, the US Fed meeting with international markets, and eight stocks to buy or sell on Thursday.
Today's Stock Market: The Nifty-50 index's short-term trend might continue to be upward, with a potential consolidation over the following two to three days. The position of support is 22,600. Experts stated that resistance is situated between 23100 and 23150 on the higher end.
Today's Stock Market: The benchmark Nifty-50 Index continued to rise for the third consecutive day, closing at 22,907.60, up 0.32%. Along with Realty, Oil & Gas, and Healthcare, the Bank Nifty was up 0.79% at 49,702.60. However, FMCG and IT fell behind. Gains at the end of the broader indices also contributed to the upbeat mood.
Thursday's Trade Setup
The bullish trend has been confirmed by the index closing above the 21EMA over the past two days. The trend is probably going to continue to be bullish in the near future, with a potential consolidation during the following two to three days. The position of support is 22,600. According to Rupak De, Senior Technical Analyst at LKP Securities, resistance is situated between 23100 and 23150 on the higher end.
According to Bajaj Broking, the Nifty Bank Index has been stabilizing over the past nine weeks within the wide range of 47,700-50,600, even though the 48,800-49,000 levels provide immediate support.
Results of the US Fed meeting
Results of the US Fed meeting
Following a two-day Federal Open Market Committee (FOMC) meeting, the US Federal Reserve published its second monetary policy decision for 2025 and maintained its benchmark interest rate at 4.25–4.50%. Following its January policy meeting review, the US central bank made its first policy decision under Donald Trump's presidency: it held the key rates constant for the second consecutive meeting.
Today's International Markets
Today's International Markets
After the recent spike, markets will respond to the outcome of the US Fed meeting in early Thursday trading before turning their focus to the weekly expiry. Although there may be some consolidation, the general mood is probably going to stay upbeat, supporting a "buy on dips" strategy. According to Ajit Mishra, SVP, Research at Religare Broking Ltd., we are seeing rotational engagement across important sectors, with banking, financials, metals, and energy leading the way. Mishra went on to say that traders should set up their positions appropriately and continue to use discretion in the wider market.
Stocks to purchase today
Choice Broking Executive Director Sumeet Bagadia has suggested two stocks for today. Three stocks were recommended by Ganesh Dongre, Senior Manager of Technical Research at Anand Rathi, while three stock selections were made by Shiju Koothupalakkal, Senior Manager — Technical Research, at Prabhudas Lilladher.
These include GlaxoSmithKline Pharmaceuticals Ltd., Sonata Software Ltd., Lloyds Metals and Energy Ltd., Camlin Fine Sciences Ltd., Indian Railway Catering and Tourism Corporation Ltd. (IRCTC), Bharat Petroleum Corporation Ltd. (BPCL), and Kalyan Jewellers India Ltd.
Sumeet Bagadia suggests purchasing Camlin Fine Sciences Ltd. at ₹178 with a stop loss at ₹172 in order to reach a target price of ₹190.
With a solid rising trajectory, Camlin Fine Sciences (CAMLINFINE) is currently trading at 178. Consistently rising highs and falling lows have been formed by the stock, indicating ongoing positive momentum. It recently hit a 52-week high of 179.40, with 182 serving as a crucial resistance level. Buying activity could be further accelerated with a breakout over this level.
2. Bagadia suggests purchasing Lloyds Metals and Energy Ltd. at ₹1242, with a stop loss of Rs. 1195, with a target price of ₹1333.
A notable upward advance and a noteworthy finish around ₹1242 demonstrate LLOYDSME's strong bullish momentum. Strong buying activity and a consolidation breakout with high volume have been observed in the stock, indicating bullish momentum and possible upside continuation.
Stocks of Ganesh Dongre to purchase today 3. Dongre suggests purchasing Sonata Software Ltd. at ₹355, with a stop-loss of ₹340, with a target objective of ₹375.
The stock is currently in an oversold zone according to the most recent short-term trend analysis. There is a noticeable bullish reversal pattern shown on the daily chart. This technical pattern raises the prospect of a brief price retreat for the stock, with a possible peak of ₹375. The stock is currently holding steady at Rs. 340, a critical support level. At the present market price of Rs. 355 there is a chance to buy. This implies that investors may think about buying the company at its current price in the hopes that it would increase to the Rs. 375 objective.
4. Dongre suggests purchasing Indian Railway Catering and Tourism Corporation Ltd. (IRCTC) at ₹717 with a stop loss of ₹704 in order to reach a target price of ₹745.
A noteworthy bullish reversal pattern has surfaced in the stock's most recent short-term trend analysis. This technical pattern raises the prospect of a brief price retreat for the stock, with a probable peak of Rs. 745. The stock is currently holding steady at Rs. 630, a critical support level. There is a chance to buy at the current market price of Rs. 717. This implies that investors may think about buying the stock at its current price in the hopes that it will increase to the Rs. 745 objective.
5. Bharat Petroleum Corporation Ltd (BPCL): Dongre suggests purchasing BPCL at ₹266 with a stop loss at ₹258 in order to reach the target price of ₹275.
A noteworthy bullish reversal pattern has surfaced in the stock's most recent short-term trend analysis. This technical pattern raises the prospect of a brief price retreat for the stock, with a possible peak of Rs. 275. The stock is currently holding steady at Rs. 258—a critical support level. There is a chance to buy at the current market price of Rs. 266. This implies that investors may think about buying the stock at the current price in the hopes that it will climb to the designated objective of Rs. 275.
Today's intraday stocks for Shiju Koothupalakkal 6. Kalyan Jewellers India Ltd.: suggests purchasing Kalyan Jewellers at ₹453 with a stop loss at ₹442 and a target of ₹480.
Following a substantial correction, the stock bottomed out close to the 400 zone and showed a respectable pullback. At this point, a positive bullish candle formation and high volume participation have strengthened the bias in anticipation of a further increase. The RSI is rising and has recovered from the oversold zone, signaling a bullish trend reversal and a buy signal. It has a lot of upside potential from the current rate to continue the upward trend in the future. Given the technically sound chart, we advise purchasing the stock with a stop loss at the 442 level and an upside objective of 480.
7. GlaxoSmithKline Pharmaceuticals Ltd.: suggests purchasing GlaxoSmithKline Pharmaceuticals at ₹2838 with a stop-loss at ₹2780 and a target price of ₹2970.
With significant volume participation in the last hours of the trading session, the stock, which is still on a strong bias, has shown a breakthrough over the resistance zone of the 2800 level and has strengthened the bias further, indicating a further climb in the upcoming sessions. The RSI has shown strength and has room to rise further to continue the upward trend. Technically, given the daily chart's strong trend, we advise purchasing the stock with a target of 2970 and a stop loss of 2780.
8. Purchasing Greaves Cotton Ltd. at ₹224.50 with a target price of ₹244 and a stop loss at ₹217 is advised.
Following a period of moderate depreciation, the stock has shown signs of recovery from the 204 level, and the pullback has strengthened the bias to expect additional gains in the upcoming sessions. With a proven bullish trend reversal, the RSI has signaled a buy with more upside potential visible after indicating a bounce back from the oversold zone. Given the technical appearance of the chart, we advise purchasing the stock with a stop loss of 217 and an upward objective of 244.
These include GlaxoSmithKline Pharmaceuticals Ltd., Sonata Software Ltd., Lloyds Metals and Energy Ltd., Camlin Fine Sciences Ltd., Indian Railway Catering and Tourism Corporation Ltd. (IRCTC), Bharat Petroleum Corporation Ltd. (BPCL), and Kalyan Jewellers India Ltd.
Sumeet Bagadia suggests purchasing Camlin Fine Sciences Ltd. at ₹178 with a stop loss at ₹172 in order to reach a target price of ₹190.
With a solid rising trajectory, Camlin Fine Sciences (CAMLINFINE) is currently trading at 178. Consistently rising highs and falling lows have been formed by the stock, indicating ongoing positive momentum. It recently hit a 52-week high of 179.40, with 182 serving as a crucial resistance level. Buying activity could be further accelerated with a breakout over this level.
2. Bagadia suggests purchasing Lloyds Metals and Energy Ltd. at ₹1242, with a stop loss of Rs. 1195, with a target price of ₹1333.
A notable upward advance and a noteworthy finish around ₹1242 demonstrate LLOYDSME's strong bullish momentum. Strong buying activity and a consolidation breakout with high volume have been observed in the stock, indicating bullish momentum and possible upside continuation.
Stocks of Ganesh Dongre to purchase today 3. Dongre suggests purchasing Sonata Software Ltd. at ₹355, with a stop-loss of ₹340, with a target objective of ₹375.
The stock is currently in an oversold zone according to the most recent short-term trend analysis. There is a noticeable bullish reversal pattern shown on the daily chart. This technical pattern raises the prospect of a brief price retreat for the stock, with a possible peak of ₹375. The stock is currently holding steady at Rs. 340, a critical support level. At the present market price of Rs. 355 there is a chance to buy. This implies that investors may think about buying the company at its current price in the hopes that it would increase to the Rs. 375 objective.
4. Dongre suggests purchasing Indian Railway Catering and Tourism Corporation Ltd. (IRCTC) at ₹717 with a stop loss of ₹704 in order to reach a target price of ₹745.
A noteworthy bullish reversal pattern has surfaced in the stock's most recent short-term trend analysis. This technical pattern raises the prospect of a brief price retreat for the stock, with a probable peak of Rs. 745. The stock is currently holding steady at Rs. 630, a critical support level. There is a chance to buy at the current market price of Rs. 717. This implies that investors may think about buying the stock at its current price in the hopes that it will increase to the Rs. 745 objective.
5. Bharat Petroleum Corporation Ltd (BPCL): Dongre suggests purchasing BPCL at ₹266 with a stop loss at ₹258 in order to reach the target price of ₹275.
A noteworthy bullish reversal pattern has surfaced in the stock's most recent short-term trend analysis. This technical pattern raises the prospect of a brief price retreat for the stock, with a possible peak of Rs. 275. The stock is currently holding steady at Rs. 258—a critical support level. There is a chance to buy at the current market price of Rs. 266. This implies that investors may think about buying the stock at the current price in the hopes that it will climb to the designated objective of Rs. 275.
Today's intraday stocks for Shiju Koothupalakkal 6. Kalyan Jewellers India Ltd.: suggests purchasing Kalyan Jewellers at ₹453 with a stop loss at ₹442 and a target of ₹480.
Following a substantial correction, the stock bottomed out close to the 400 zone and showed a respectable pullback. At this point, a positive bullish candle formation and high volume participation have strengthened the bias in anticipation of a further increase. The RSI is rising and has recovered from the oversold zone, signaling a bullish trend reversal and a buy signal. It has a lot of upside potential from the current rate to continue the upward trend in the future. Given the technically sound chart, we advise purchasing the stock with a stop loss at the 442 level and an upside objective of 480.
7. GlaxoSmithKline Pharmaceuticals Ltd.: suggests purchasing GlaxoSmithKline Pharmaceuticals at ₹2838 with a stop-loss at ₹2780 and a target price of ₹2970.
With significant volume participation in the last hours of the trading session, the stock, which is still on a strong bias, has shown a breakthrough over the resistance zone of the 2800 level and has strengthened the bias further, indicating a further climb in the upcoming sessions. The RSI has shown strength and has room to rise further to continue the upward trend. Technically, given the daily chart's strong trend, we advise purchasing the stock with a target of 2970 and a stop loss of 2780.
8. Purchasing Greaves Cotton Ltd. at ₹224.50 with a target price of ₹244 and a stop loss at ₹217 is advised.
Following a period of moderate depreciation, the stock has shown signs of recovery from the 204 level, and the pullback has strengthened the bias to expect additional gains in the upcoming sessions. With a proven bullish trend reversal, the RSI has signaled a buy with more upside potential visible after indicating a bounce back from the oversold zone. Given the technical appearance of the chart, we advise purchasing the stock with a stop loss of 217 and an upward objective of 244.
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