Stock market today: Trade setup for Nifty 50 to Maharashtra election result; 5 stocks to buy or sell on Monday — Nov 25

Stock Market Today: The benchmark Nifty 50 index  and S&P BSE Sensex ended with around 1.5% gains during the week ending 22 November, providing relief to investors. Nifty Bank too followed suit ending at 51,135.40, while Auto, Realty FMCG were key gamers. Broader indices also ended with gains.

Trade setup for Monday

As long as the market is trading above 200-day Simple Moving Average or 23600 for Nifty and 77500 for Sensex, the pullback formation will likely continue , said Amol Athawale, VP-Technical Research, Kotak Securities. On the higher side, Nifty could move up to 24000-24200 and Sensex to 79400-79900

For Bank Nifty, from a short-term perspective, the positive momentum is expected to continue towards 52100. The crucial support zone is placed at 50500 – 50400, said Jatin Gedia, Technical Research Analyst at Sharekhan.

Russia-Ukraine war, Maharashtra Election result in focus

On Monday, the market will react to the outcome of State assembly elections in Maharashtra and Jharkhand along with other global triggers, including developments in the Russia-Ukraine war, said Siddhartha Khemka, Head - Research, Wealth Management, Motilal Oswal Financial Services Ltd. Overall, the 2QFY25 corporate earnings scorecard was weak, but excluding commodities, it showed an in-line earnings growth. Consumption emerged as a weak spot, while select segments of BFSI are experiencing asset-quality stress, added Khemka.

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 has suggested three stock ideas.

These Include HCL Technologies Ltd, UltraTech Cement Ltd, Aurobindo Pharma Ltd, Zydus Lifesciences Ltd and Coal India Ltd

Sumeet Bagadia's stocks to buy today

1] HCL Technologies Ltd- Bagadia recommends buying HCL Technologies at ₹1898.4 keeping Stoploss at ₹1830 for a target price of ₹ 2015

HCL Technologies is currently trading at ₹1,898.4. The stock has recently broken out of a consolidation phase, which is 1800-1880 range, and is now trading at its all-time high, affirming its upward momentum. The Relative Strength Index (RSI) stands at 62.58, indicating strong bullish strength.

2] UltraTech Cement Ltd- Bagadia recommends buying UltraTech at Rs11375.3 keeping Stoploss at ₹10975 for a target price of ₹11950

UltraTech is currently trading at ₹11,375.30, exhibiting a bullish trend. The stock has recently broken out from a falling trend line and closed above the critical resistance level of ₹11,300, supported by a notable surge in trading volumes. This indicates strong buying interest and suggests further upward momentum. In the short term, the stock appears poised to reach a target price of ₹11,950.

Ganesh Dongre's stocks to buy today

3] Aurobindo Pharma Ltd- Dongre recommends buying Aurobindo at ₹1225 keeping Stoploss at ₹1204 keeping target price of ₹1250.

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 ₹1250. At present, the stock is maintaining a crucial support level at Rs.1204. Given the current market price of Rs.1225 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 ₹1250.

4] Zydus Lifesciences Ltd- Dongre recommends buying Zydus Lifesciences at ₹950 keeping Stoploss at ₹935 for target price of ₹975

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.975. At present, the stock is maintaining a crucial support level at Rs.935. Given the current market price of Rs.950, 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.975

5] Coal India Ltd- Dongre recommends buying Coal India at ₹415 keeping Stoploss at ₹407 for a target price of ₹425.

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. 425. At present, the stock is maintaining a crucial support level at Rs.407. Given the current market price of Rs.415, 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. 425.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decisions.