Valentine’s Day top pick: Sumeet Bagadia of Choice Broking suggests THIS stock to buy on February 14; Do you own? | Stock Market News

Valentine’s Day stock pick: On the occasion of Valentine’s Day 2025, Sumeet Bagadia, Executive Director at Choice Broking, has recommended ICICI Bank as the top stock pick of the day to buy for the medium to long term. The D-Street expert has provided the current target levels for India’s second-largest private banking stock to buy during tomorrow’s market trading session.

Sumeet Bagadia on Valentine’s Day stock pick: Buy ICICI Bank at ₹1,254 and add up to ₹1,220 for the target of ₹1,380/ ₹1,445. According to BSE, ICICI Bank commands a market capitalisation of ₹8,81,787.67 crore.

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Valentine’s Day Stock Pick: Sumeet Bagadia suggests ICICI Bank for February 14

According to Bagadia, ICICI Bank is currently trading at ₹1,254 after correcting nearly 12 per cent from its recent swing high over the past two months. The stock has maintained a strong long-term uptrend, forming higher highs and higher lows within a Rising Channel on the weekly timeframe. 

Recently, it has shown signs of reversal by rebounding from the lower boundary of this channel, indicating the potential for further upward momentum. Key resistance levels and upside targets are identified at ₹1,380 and ₹1,445. On the downside, strong support is evident around ₹1,190. 

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Valentine’s Day Stock Pick: Technical View for ICICI Bank stock

ICICI Bank has bounced from its medium-term 50-day EMA and is currently trading near its short-term 20-day EMA. A sustainable move above these levels would further confirm bullish strength and continue the uptrend. Given the current technical setup, a buying opportunity on dips up to ₹1,220 can be considered with a well-defined risk management approach. 

“Traders targeting ₹1,380 and ₹1,445 should ensure appropriate stop-loss measures are in place to manage risk effectively. So, based on the above technical structure, we recommend a buy position in the stock for the medium to long term,” said Bagadia on the ICICI Bank stock.

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Stock market today

Domestic equity benchmarks Sensex and Nifty 50 have lost about three per cent over seven sessions, dragged by concerns over slowing economic growth, sustained foreign selling and US trade policy. On Thursday, the frontline indices pared early gains to close lower for the seventh straight day, dragged by fag-end selling in select IT and banking shares and foreign fund outflows.

The 30-share BSE Sensex dipped 32.11 points or 0.04 per cent to settle at 76,138.97. The index stayed in the positive zone for most of the session. The benchmark gyrated 751.1 points between the day’s high of 76,764.53 and low of 76,013.43. The NSE Nifty slipped 13.85 points or 0.06 per cent to 23,031.40.

The NSE Nifty 50 benchmark hit a lifetime high of 26,277 on September 27, 2024, but has since failed to hold the momentum dragged by foreign fund outflow, stretched valuations and domestic macroeconomic factors. The benchmarks are down more than 12 per cent from the September peak.

Disclaimer: The views and recommendations provided in this analysis are those of individual analysts or broking companies, not Mint. We strongly advise investors to consult with certified experts, consider individual risk tolerance, and conduct thorough research before making investment decisions, as market conditions can change rapidly, and individual circumstances may vary.