Stock market today: Trade setup for Nifty 50 to Q3 results today; 5 stocks to buy or sell on Monday — 27 January 2025 | Stock Market News

Stock Market Today: The benchmark Nifty 50 and S&P BSE Index for the week ended 24 January 2025 at 23,092.20 and 76,190.46, respectively, ended 0.5% down Week or Week. The Bank nifty at 48,367.80 also ended marginally lower while  IT and Healthcare were among the key gainers and Industrials & Realty among the top underperformers. The broader markets remained under higher pressure as mid and small caps ended  2.5-4% lower.

Trade Setup for Monday

Since the past four trading sessions, Nifty has been trading in the broad range of 23000 – 23400, and until Nifty does not breach the support zone of 23050 – 23000, we can expect the rangebound price action to continue. A breach below 23000 could lead to a fall towards 22670 which coincides with the 38.2% Fibonacci retracement level as per Jatin Gedia – Technical Research Analyst at Mirae Asset Sharekhan

If the  Nifty Bank index holds 48,000 levels, a pullback rally towards 49,000-49,500 could be possible, as per Hrishikesh Yedve, AVP Technical and Derivatives Research at Asit C. Mehta Investment Intermediates Ltd.

Global Markets to Q3 Results Today and Budget 2025

The upcoming week holds significant importance for the equity markets and the economy, with the Union Budget scheduled for February 1 (Saturday) and a special trading session on that day for real-time reactions to policy announcements. Market participants are hopeful of measures to boost the slowing economy and drive consumption, all while maintaining fiscal discipline, said Ajit Mishra, SVP, Research, Religare Broking Ltd. 

Additionally, several major companies, including Tata Steel, Bajaj Auto, Maruti, Tata Motors, ONGC, Cipla, and IndusInd Bank, are set to release their earnings during the week. On the global front, key events like the US FOMC meeting and statements from the US President will also influence market sentiment. Given the recent rise in inflation and the potential risks of further escalation, most expect no immediate action from the Fed, added Mishra.

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.

Sumeet Bagadia’s stock recommendations today

1.Avanti Feeds Ltd – Bagadia recommends buying Avanti Feeds at Rs 692.55, keeping stop loss at ₹666 for a target price of ₹740

Avanti Feeds  is currently positioned at 692.55 levels, has shown robust upward momentum. The stock’s recent breakout was supported by significant trading volume, indicating strong investor interest. The chart reveals a steady climb, with the 20-day EMA trending upward and converging towards the 50-day and 100-day EMAs. This alignment of moving averages suggests a continuation of the bullish trend if supported by further buying pressure., affirming its inherent strength.

2. Akzo Nobel India Limited– Bagadia recommends buying Akzo Nobel at ₹ 3852.45 keeping Stoploss at ₹3700 for a target price of ₹4100

Akzo Nobel is currently trading at ₹3852.45. After a period of small falls and sideways consolidation, the stock has lately broken the neckline levels of ₹3735 and is rising quickly on the upside with substantial volume… There are expectations of further upward movement, potentially reaching ₹4100 levels. On the downside, substantial support is evident near ₹3700.

Ganesh Dongre’s stocks to buy today

3. ICICI Bank Ltd – Dongre recommends buying ICICI Bank at ₹1210 keeping Stoploss at ₹1170 for target price of ₹1250.

In the recent short-term trend analysis of the stock, currently the stock is in an oversold zone. Looking at 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 ₹1260. The stock is currently maintaining a crucial support level at Rs.1170. Given the current market price of Rs.1210, 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.1260.

4. Indian Railway Catering and Tourism Corporation Ltd (IRCTC)– Dongre recommends buying IRCTC at ₹788, keeping Stoploss at ₹770 for a target price of ₹815

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.815. The stock is currently maintaining a crucial support level at Rs.770. Given the current market price of Rs.788, 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.815

5. TVS Motor Company Ltd– Dongre recommends buying TVS Motor at ₹2270 keeping Stoploss at ₹2230 for a target price of ₹ 2340.

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 ₹2340. The stock is currently maintaining a crucial support level at Rs.2230. Given the current market price of ₹2270, 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 ₹2340.

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