Stock Picks: Sagar Doshi of Nuvama suggests Affle India, Amara Raja, Bharti Airtel today – 26 March 2025 | Stock Market News
Source: Live Mint
Stock Market today: The main stock indices, Nifty 50 and Sensex, began the day flat on Wednesday as they adjusted to the gains accumulated over the past week. Nonetheless, foreign portfolio investor (FPI) investments continue to flow in.
The Nifty 50 index registered an opening at 23,700.95, reflecting an increase of 32.30 points or 0.14 percent, while the Sensex opened nearly stable at 78,021.45 points.
Analysts pointed out that the markets have already considered the potential for widespread disruption on April 2, which offers some advantages for investors since the actual situation may turn out to be less severe than what has been anticipated in sentiment and prices. The current sentiment can be described as “cautiously optimistic.”
Dr. VK Vijayakumar, the Chief Investment Strategist at Geojit Investments Limited, mentioned that despite the impending April 2nd reciprocal tariff deadline, the market has shown resilience, suggesting potential for further growth. This growth is likely if the reciprocal tariffs turn out to be less severe than anticipated. Additionally, a bilateral agreement between the US and India is a probable outcome if the ongoing negotiations between the two nations yield favourable results.
Nifty 50 Outlook by Sagar Doshi, Senior Vice President- Research, Nuvama Professional Clients Group
Nifty 50
Nifty 50 has rallied close to 1,000 pts in the past 1 week and with yesterday’s price action wherein the index made a fresh 10 week high but closed below its previous day’s high, shows a pause in momentum. Though charts suggest a move towards 24,000+ wherein it could retest it 200 DMA on the upside, a strong shakeout in the derivative data suggests a wild 400-500 pt swing in the next 2-4 trading sessions.
Given the monthly derivative expiry due tomorrow index volatility is likely to remain elevated. Yesterday’s FII’s significant buying in index options furthers this case of a sharp move upcoming. Despite such a sharp uptick in past days, support based on charts continue to remain below 23,000.
Also Read : Bitcoin, Ethereum to end Q1 in the red, ‘vertical swing up’ unlikely
Bank Nifty
A 9% rally on Bank Nifty in the past 2 weeks have made the index trade at a fresh 3 month high. Intermediate targets have been met at 51650 while overall target continue to show biasness towards 52500 zone. A case of retesting its 200 DMA remains open wherein the index could initially take support at sub 51000 levels before inching higher as Bank Nifty looks more stretched compared to Nifty 50. However, outperformance of the same is likely to continue against Nifty 50.
Stock Picks: Stocks To Buy on Wednesday- Sagar Doshi
On stocks to buy on Wednesday, Sagar Doshi of Nuvama recommended three stocks – Affle (India) Ltd, Amara Raja Energy & Mobility Ltd, and Bharti Airtel Ltd.
Affle (India) Ltd (BUY): LCP: ₹1,575.55; SL: ₹1,530; TGT: ₹1,740
A 3 month trendline breakout has been seen on charts of Affle (India), this is in sync with a breakout from its 200 DMA resistance near ₹1,540. Chart is now open to scale to levels not seen from the start of this calendar year and gears up for a quick 10-12% rally.
Amara Raja Energy & Mobility Ltd (BUY): LCP: ₹1,055.40; SL: ₹1,011; TGT: ₹1,220
Amara Raja Energy & Mobility has completed close to 50% correction from its highs, a similar percentage of cooldown was seen in 2021-2022 correction in this EV related bull market. A 9-month trendline breakout has been confirmed on daily charts which could allow a 12-15% initial upside.
Bharti Airtel Ltd (BUY): LCP: ₹1,730.50; SL: ₹1,690; TGT: ₹1,825
Bharti Airtel has given a breakout of a 6 month long cup and handle pattern signalling that its consolidation phase while the market was correcting is over. The stock has been outperforming the index for past 2 quarters and is likely to do so as this breakout paints a potential target of fresh all time high on cards.
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.
