Stock market today: Trade setup for Nifty 50 to global markets; 8 stocks to buy or sell on Tuesday— March 04, 2025

Stock Market Today: The benchmark Nifty-50 index ended almost flat at 22,119.30 on Monday. However, the Bank Nifty at 48,114.30 lost nearly half a per cent while the Oil & Gas index was another key loser, though many other sectors, such as IT, Metal and Realty, were among the key gainers. The Mid and small caps ended almost flat.

Trade Setup for Tuesday

Nifty remained above the psychologically important 22,000 mark, which is expected to serve as short-term support. A breach of this level could pull the Nifty toward the next support band of 21,700-21,750. On the upside, the 22,450-22,500 band may present resistance, said per Devarsh Vakil - Head of Prime Research, HDFC Securities

Bank Nifty tested the key support zone of 48,000-47,800, and a break below this support area could lead to a further decline toward the 47,000 levels, as per Bajaj Broking

Global Markets Today

"The market experienced a gradual recovery from its intraday low, driven by improving economic growth, a rebound in consumption expenditure, and healthy expansion in the agricultural sector, which influenced investor sentiment. With valuations approaching oversold levels, domestic indicators suggest the potential for a rebound. However, the longevity of this recovery remains uncertain, contingent on easing global trade uncertainties, which currently show limited signs of improvement," said Vinod Nair, Head of Research at Geojit Financial Services.

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 Bharat Electronics Ltd (BEL), JSW Steel Ltd, One 97 Communications Ltd (Paytm), Steel Authority Of India Ltd (SAIL) and Bata India Ltd.

Sumeet Bagadia's stock picks

1] Bharat Electronics Ltd (BEL)- Bagadia recommends buying BEL at ₹257.40, keeping Stoploss at ₹248 for a target price of ₹275

BEL is currently trading at ₹257.4 and moving within a parallel channel, forming lower lows and lower highs. However, the stock has recently bounced from the channel's lower boundary, indicating a potential bullish reversal. The rebound from its support zone is backed by increased trading volumes, reinforcing a positive outlook. If BEL sustains above the critical level of ₹260, it could likely extend its upward momentum toward the target price of ₹275.

2] JSW Steel Ltd- Bagadia recommends buying JSW Steel Ltd at ₹976.05, keeping Stoploss at ₹942 for a target price of ₹1044

JSW Steel has shown signs of resilience in the recent trading sessions, consolidating around key moving averages. The stock is currently trading at ₹976.05, with a gain of 2.67% for the session. The chart indicates a steady upward movement after a period of correction, with the stock finding support around the ₹960– ₹940 zone.

Ganesh Dongre's stocks to buy today

3] One 97 Communications Ltd (Paytm)- Dongre recommends buying Paytm at ₹728 SL 710 TGT 755.

In the recent short-term trend analysis of the stock, currently, stock is in an 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 ₹755. At present, the stock is maintaining a crucial support level at Rs. 710. Given the current market price of Rs.728, 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.755.

4] Steel Authority Of India Ltd (SAIL)- Dongre recommends buying SAIL at ₹106, keeping Stoploss at ₹102 for a target price of ₹112

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.112. The stock is currently maintaining a crucial support level at Rs.102. Given the current market price of Rs.106, 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.112

5] Bata India Ltd- Dongre recommends buying Bata India at ₹1255 keeping Stoploss at ₹1225 for a target price of ₹1295.

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. 1295. The stock is currently maintaining a crucial support level at Rs.1225. Given the current market price of Rs.1255, 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. 1295.

Shiju Koothupalakkal's intraday stocks for today

6] BHEL: Buy at ₹185.45, target ₹200, stop loss ₹181.

The stock after the slide has indicated a positive candle formation with significant volume participation and further upward move is anticipated in the coming sessions with the RSI showing positive divergence and having strength indicated, we expect further gains in the stock. With the chart well positioned and looking good, we suggest to buy the stock for an upside target of ₹200 keeping the stop loss of ₹181.

7] GSK: Buy at ₹2520, target ₹2650, stop loss ₹2475.

The stock has recently witnessed a decent spurt to strengthen the trend and after some consolidation seen, has once again indicated a positive candle formation just moving past the significant 200 period MA at ₹2515 level with the bias maintained strong and further rise can be expected. With the chart looking good and the RSI, just cooling off from the highly overbought zone, has much upside potential from here on and we suggest to buy the stock for target of ₹2650, keeping the stop loss of ₹2475.

8] Cummins India: Buy at ₹2824, target ₹2940, stop loss ₹2770.

The stock has been consolidating near the ₹2650 and ₹2800 band with the bias improving and also with the RSI indicating a positive divergence, there is strength indicated and we anticipate further rise in the coming days. With the RSI well positioned and the chart looking good, we suggest to buy the stock for an upside target of ₹2940 keeping the stop loss of ₹2770.

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.