Stock market today: Trade setup for Nifty 50 to global markets today; 8 stocks to buy or sell on Tuesday— 18 February | Stock Market News

Stock Market Today:  The benchmark Nifty-50 index, snapping its eight-session losing streak, ended with gains of 0.13% at 22,959.50 on Monday. The S&P BSE Sensex also ended with gains of 0.08% at 75,996.86. Bank Nifty while still ended with 0.32% gains at 49,258.90, however overall sectoral trend was mixed with Pharma, Energy and metals being under key gainers though IT and auto ended in losses. The broader indices trend, too, was mixed, where midcap ended with some gains while small-cap ended flat.

Trade Setup for Tuesday

The pullback formation will continue as long as the Nifty 50 index trades above 22800. On the higher side, it could move up till 23000 and further 23075. On the flip side, below 22,800, the sentiment could change. Below the same, the market could slip till 22725-22650, said Shrikant Chouhan, Head Equity Research, Kotak Securities.

Bank Nifty faces resistance around the 21-DSMA at 49,315. Sustaining above this level could extend the upside towards 49,650-49,750, while strong support is placed at 48,500, said Asit C. Mehta.

Global Markets Today

“Modest earnings growth in Q3 FY25, coupled with sustained selling by FIIs, limits the potential for a near-term market rebound. A weakening rupee and a widening trade deficit will heighten investor caution. Despite a nosedive correction in broader indices, valuations remain unappealing. However, any easing of US trade uncertainties and initial signs of a recovery in discretionary spending could help support a market rebound, said Vinod Nair, Head of Research, 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 another three stocks picks.

Sumeet Bagadia’s stock picks

1. Vishnu Chemicals Ltd– Bagadia has recommended Vishnu Chemicals at ₹474.45, keeping Stoploss at ₹460 for a target price of ₹510

Vishnu Chemicals showcases a strong bullish momentum, evident from a notable uptrend from the support levels around 435, in close proximity to its 20 Day Exponential Moving Average (EMA). substantial upward movement and a significant closing around ₹474.45. The stock has been experiencing robust buying interest, leading to consecutive gains that could potentially lead to further upward movement after the recent surge, offering an optimistic outlook for investors

2. Sarda Energy & Minerals Ltd– Bagadia recommends buying Sarda Energy at ₹480.65, keeping Stoploss at ₹465 keeping target price of ₹ 515.

Sarda Energy showcases a strong bullish momentum, evident from a substantial upward movement and a significant closing around ₹480.65. The stock has been experiencing robust buying interest, the stock has shown consistent higher highs and higher lows, a classic pattern of a strong uptrend. Notably, the trading volume during upward price movements has been substantial, reinforcing the strength of the rally. In recent sessions, Sarda is getting stabilized and approaching its all-time high of ₹525, indicating consolidation and a potential setup for another breakout and moving towards its swing high target of ₹520.

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Ganesh Dongre’s stocks to buy today

3. Bajaj Finance Ltd– Dongre recommends buying Bajaj Finance at ₹8427, keeping Stoploss at ₹8250 for a target price of ₹8600

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. 8600. At present, the stock is maintaining a crucial support level at Rs.8250. Given the current market price of Rs.8427, 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. 8600.

4. IndusInd Bank Ltd – Dongre recommends buying IndusInd Bank at ₹1048  keeping Stoploss at ₹1028 for a target price of ₹1070

We have seen a major support in this stock around Rs.1028 So, at the current juncture, the stock has again seen a reversal price action formation at the ₹1028 price level, which may continue its rally till its next resistance level of Rs.1070 so traders can buy and hold this stock with a stop loss of Rs.1028 for the target price of Rs.1070 in the upcoming weeks.

5. CG Power and Industrial Solutions Ltd– Dongre recommends buying CG Power at ₹583 keeping Stoploss at ₹565 for a target price of ₹610

In the recent short-term trend analysis of the stock, a notable bullish reversal pattern has emerged. This technical pattern suggests that there could be a temporary retracement in the stock’s price, possibly to around Rs. 3750 Currently, the stock is holding a crucial support level at Rs.565.Given this scenario, there is potential for the stock to rebound towards the Rs.610 level in the near future. Traders are advised to consider taking a long position, with a strategic stop loss set at Rs.565 to manage risk effectively. The target price for this trade is Rs.610, reflecting the anticipated upward movement based on the identified technical

Shiju Koothupalakkal’s stock recommendations

6. Maruti Suzuki India Ltd- Koothupalakkal recommends buying Maruti Suzuki at ₹12760, for a target price of ₹13200, keeping a Stoploss of ₹12500

The stock, making another higher bottom formation on the daily chart and having support near 12500, has once again indicated a positive candle pattern with bias improving and a positive trend reversal, with the RSI turning up to signal a buy. We suggest buying the stock with upside potential visible for a target of 13200, keeping the stop loss of 12500.

7. Havells India Ltd– Koothupalakkal recommends buying Havells at around ₹1532 for a target price of ₹1605, keeping a Stoploss at ₹1500

The stock has once again arrived near the base of the descending channel pattern on the daily chart to take support and indicate a trend reversal with improving bias and expected for further rise from the current level, with the RSI currently well positioned and showing signs of reversal to signal a buy. We suggest buying the stock for an upside target of 1605, keeping the stop loss of 1500.

8. Aditya Birla Real Estate Ltd- Koothupalakka recommends buying Aditya Birla Real Estate at ₹2110 for a target price of ₹2220, keeping Stop Loss at ₹2070

The stock forming a higher low pattern on the daily chart, taking support near the 1980 zone, has shown signs of positive reversal to signal a buy, and with the chart looking attractive, we anticipate a further rise in the coming sessions. With the RSI well placed, we suggest to buy the stock for an upside target of 2220 keeping the stop loss of 2070.

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 taking any investment.