Shares to buy or sell: Sachin Gupta of 5paisa recommends JSW Energy, Birlasoft Futures today – 11 March | Stock Market News

Stock market today: The domestic benchmark indices, Nifty 50 and Sensex, experienced a sharp decline in the opening session on Tuesday, largely in response to the significant sell-off in US markets, influenced by the “Trump Uncertainty Discount” that is impacting global supply chains. The Nifty 50 index started at 22,345.95, showing a drop of 114.35 points or -0.51%, while the Sensex fell by 371.29 points or -0.50% to begin at 73,743.88.

Market analysts noted that Trump’s tariff policies have had a substantial effect on the markets during the first 50 days of his presidency. They mentioned that the only option is to remain patient, hoping for some clarity to emerge.

Dr. V K Vijayakumar, the Chief Investment Strategist at Geojit Financial Services, remarked that the inconsistent tariff policies implemented by President Trump and the significant uncertainty they have generated are beginning to affect the US stock markets. The S&P 500 and Nasdaq both dropped by 2.6% and 4%, respectively, in response to Trump’s tariffs and the looming possibility of a US recession by the end of the year. We will need to observe how the situation unfolds.

Market Review and Outlook – Sachin Gupta, Senior Research Analyst at 5paisa

After a steady open, Nifty 50 lost ground during the day. As worries over weak US futures mounted, it closed the day in the red (-0.4%) and significantly below the day’s high. ONGC, Trent, Indusind Bank were among the top losers with each of them falling 4%. On the other hand, Power Grid Corporation of India (+3%) and Hindustan Unilever (HUL) (+2%) shone. ADR was hugely bearish with 41 of the Nifty 50 stocks declining for the day.

Macro worries continue to be the key overhang on Nifty 50. After last week’s relief rally, Nifty 50 failed to hold onto the gains and fell below the psychologically important 22,500 level. While the market was searching for direction and seemingly consolidating at 22,500 levels, momentum has turned incrementally negative today. Near term support and resistance levels are 22,204/22,046 and 22,716/22,875.

Also Read : Investors flee from risk assets as JPMorgan ups recession odds to 40%

Shares to buy or sell today on Tuesday- Sachin Gupta

On shares to buy or sell on Tuesday, Sachin Gupta recommends JSW Energy, and Birlasoft Futures.

JSW Energy

On the daily chart, the stock has been forming an Inverse Head & Shoulders pattern, indicating a bullish reversal in the short term. The price has traded above the 21-day Simple Moving Average, accompanied by higher volume activity, which supports the bullish momentum. The Super Trend indicator also suggests bullish strength for the near term. Additionally, on the weekly chart, the stock has recovered from the Lower Bollinger Band formation, signaling strong support around the 430 level.

Based on the above technical structure, we are expecting bullish momentum in JSW Energy above the 517 level. Therefore, one can consider buying above this level, targeting potential levels of 543/565, with a stop loss at 491.

Birlasoft Futures

On the weekly chart, the stock has been falling for the past few weeks, without showing any signs of buying strength. The price has dropped below the 200-week Exponential Moving Average and the 61.8% retracement level of its prior rally, indicating further weakness in the long term. However, the RSI is trading below the oversold territory, suggesting some short-covering moves. Despite this, the overall trend remains weak.

Hence, traders are advised to adopt a sell-on-rise strategy in Birlasoft (March Future) around the 415-418 levels, targeting a downside of 402/393 levels, with a stop loss at 428.

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