Stock market today: Trade setup for Nifty 50 to global markets; eight stocks to buy or sell on Wednesday— March 19, 2025

Stock Market Today: The markets saw a stellar rally on Tuesday as Nifty 50 index ended with gains of 1.45% at 22,834.30. The Bank Nifty ended almost 2% higher at 49,314.50, while realty, auto, were other key gainers. Broader indices saw a sharp rebound, gaining over 2%.

Trade Setup for Wednesday

The Nifty-50 index successfully surpassed the 22,600-resistance zone, and is currently trading comfortably above the 20-day Simple Moving Average (SMA), indicating a further uptrend from current levels. “We believe that the short-term market outlook is bullish,” said Shrikant Chouhan, Head Equity Research, Kotak Securities

As long as Bank Nifty remains above 48,900, upward momentum will likely to persist. On the upside, the 49,650–49,700 zone will act as an immediate hurdle, said Hrishikesh Yedve, AVP Technical and Derivatives Research at Asit C. Mehta Investment Intermediates.

Global Markets Today

The US Fed’s and Bank of Japan’s monetary policy meetings begin today, and both are expected to hold the interest rates steady. The market will focus on Fed’s updated economic projections and commentary for clues on the path ahead. “We expect the market recovery to continue in the near term on the back of positive global cues and value buying at lower levels,” 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.

These include Kotak Mahindra Bank Ltd, Cholamandalam Investment and Finance Company Ltd, Aurobindo Pharma Ltd, Bharat Heavy Electricals Ltd, Usha Martin Ltd, Torrent Power Ltd, Maruti Suzuki India Ltd and BSE Ltd.

Sumeet Bagadia's stock pick

1. Kotak Mahindra Bank Ltd- Bagadia recommends buying Kotak Mahindra Bank at ₹2,034 with a Stoploss at ₹1,963 for a target price of ₹2,176.

KOTAKBANK is currently trading at 2034, maintaining a strong upward trajectory. The stock has consistently formed higher-highs and higher-lows, reflecting sustained bullish momentum. It recently reached a 52-week high of ₹2,039, with a key resistance level around ₹2,064. A breakout above this level could further accelerate buying interest. The Exponential Moving Averages (EMAs) for the 20, 50, 100, and 200-day periods are all trending upwards, reinforcing the bullish outlook

2. Cholamandalam Investment and Finance Company Ltd- Bagadia recommends buying Cholamandalam Investment at ₹1,515.25 keeping a stoploss at ₹1,462 for a target price of ₹1,621

CHOLAFIN is currently trading at ₹1,515.25, exhibiting a strong bullish trend characterized by the formation of higher-highs and higher-lows. The stock recently reversed from a key support level and formed a bullish candlestick pattern on the daily chart, indicating renewed upward momentum. This reversal is further validated by a significant increase in trading volumes, highlighting strong buying interest from investors. In the short term, the stock is well-positioned to reach its target of ₹1,621.

Ganesh Dongre's stocks to buy today

3. Aurobindo Pharma Ltd - Dongre recommends buying Aurobindo Pharma Ltd at ₹1,136 keeping Stoploss at ₹1,105 for a target price of ₹1,175.

In the recent short-term trend analysis of the stock, the stock is in an oversold zone. On 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 ₹1,175. The stock is currently maintaining a crucial support level at Rs.1,105. Given the current market price of Rs.1,136, 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.1,175.

3. Bharat Heavy Electricals Ltd (BHEL)- Dongre recommends buying BHEL at ₹204 Stoploss at ₹200 for a target price of ₹210

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.210. At present, the stock is maintaining a crucial support level of Rs.200. 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.210

5. Usha Martin Ltd - Dongre recommends buying Usha Martin at ₹316 keeping Stop Loss at ₹305 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.330. Given the current market price of Rs.316, 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. Torrent Power Ltd- Koothupalakkal recommends buying Torrent Power at ₹1,375 for a target price of ₹1,450 with a stoploss at ₹1,345.

The stock has indicated strength with series of higher bottom formation on the daily chart and has currently improved the bias with a positive candle pattern to move past the important 50EMA level at ₹1,370, prompting an anticipation for a further rise. The RSI is on the rise and has much upside potential from the current rate to carry on with the positive move further ahead. With the chart technically looking attractive with favourable risk-reward ratio, we suggest buying the stock for an upside target of ₹1,450 keeping the stop loss of ₹1,345 level.

7. Maruti Suzuki India Ltd- Koothupalakkal recommends buying Maruti Suzuki at ₹11,710 for a target price of ₹12,200, with a stop Loss set at ₹11,400.

The stock has witnessed a strong consolidation phase near the ₹11,450 and ₹11,700 levels. It has gathered strength and has much upside scope. With a positive candle formation moving past the important 100 period MA, the bias has improved. Expect a further rise in the coming sessions. The RSI has corrected well and is hovering near the oversold zone, currently indicating improvement and showing signs of a positive trend reversal. We anticipate a further rise in the coming sessions with the risk-reward looking very favourable. The chart is also technically well-positioned.  We suggest buying the stock with a target of ₹12,200  and the stop loss set at  RS 11,400 level.

8. BSE Ltd- Koothupalakkal recommends buying BSE at ₹4,145 for a target price of ₹4,550 with stop loss set at ₹3,900.

After a significant dip, the stock has bottomed out near the ₹3,700 zone. After a decent pullback, it has currently moved past the important 200 period MA at ₹4,030 level, improving the bias. Anticipating a further upward move in the coming sessions. The RSI has corrected quite significantly, indicating a positive trend reversal from the oversold zone, signalling a buy. With much upside potential visible and with the chart technically looking good, we suggest buying the stock for an upside target of ₹4,550, keeping a stop loss at ₹3,900.

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.