Stock market today: Trade setup for Nifty 50 to global markets; 8 stocks to buy or sell on Thursday— February 20, 2025

Stock Market Today: The consolidation phase in the markets continued on Wednesday as benchmark Nifty 50 Index and the S&P BSE Sensex ended 0.04-0.05% lower at 22,932.90 and 75,939.18, respectively. The Bank Nifty saw a sharp recovery of almost a per cent to end at 49,570.10. The Oil & Gas, realty and metals sectors outperformed, while IT and pharma were the losers. The broader markets also rebounded with mid- and small-caps rising 1.5%- 2.3%.

Trade Setup for Thursday

The support of 22,800 is intact for Nifty 50 and due to improvement in the broader market performance, the index has a good chance to extend the pullback towards the next resistance of 23,235, said Vinay Rajani, Senior Technical & Derivative Analyst, HDFC Securities.

The Nifty Bank index is still placed below 49,650 hurdle. Sustaining above 49,650 could lead to a fresh move towards 50,000 levels, said Hrishikesh Yedve, AVP Technical and Derivatives Research at Asit C. Mehta Investment Interrmediates Ltd.

Global Markets Today

Geopolitical developments were in focus as the US and Russia held a high-level meeting in Riyadh, agreeing to work towards ending the Russia-Ukraine war and establishing better diplomatic and economic ties. “We expect the market to continue trading in a range-bound manner, tracking the global market cues, Trump’s tariff policies and political developments in the Russia-Ukraine war,” said Siddhartha Khemka, Head – Research, Wealth Management, Motilal Oswal Financial Services Ltd

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 three stocks picks.

Sumeet Bagadia’s stock picks

1. Camlin Fine Sciences Ltd- Bagadia recommends buying Camlin Fine at ₹151.38, keeping stop loss at ₹143 for a target price of ₹159.

Camlin Fine is currently trading at 151.35, reflecting a strong upward trajectory. The stock has exhibited a consistent pattern of higher highs and higher lows, underscoring sustained bullish momentum. Notably, it recently reached a fresh 52-week high of 152.8, trading significantly above its 20-day EMA, 50-day EMA, and 200-day EMA,

2. Bajaj Healthcare Ltd– Bagadia recommends buying Bajaj Healthcare at ₹688, keeping stop loss at ₹660 for a target price ₹735.

Bajaj Health showcases a strong bullish momentum, evident from a substantial upward movement and a significant closing around ₹688. The stock has been experiencing robust buying interest, leading to consecutive gains and an attempt to consolidate after the recent surge.

Ganesh Dongre’s stocks to buy today

3. Aurobindo Pharma Ltd– Dongre recommends buying Aurobindo Pharma at ₹1,135, keeping a stop loss at ₹1,110 for a target price of ₹1,170.

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.1,170. The stock is maintaining a crucial support level at Rs.1,110. Given the current market price of Rs.1,135, 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.1,170.

4. IndusInd Bank Ltd – Dongre recommends buying IndusInd Bank at ₹1,036, keeping the stop loss at ₹1,018 for a target price of ₹1,070.

We have seen a major support in this stock around Rs.1018. So, at the current juncture, the stock has again seen a reversal price action formation at the ₹1,018 level. It 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.1,018 for the target price of Rs.1,070 in the upcoming weeks.

5. KFin Technologies Ltd– Dongre recommends buying KFin Technologies at ₹864, keeping a stop loss at ₹842 for a target price of ₹900.

In its recent short-term trend analysis, 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. 900. Currently, the stock is holding a crucial support level at Rs.842.

Given this scenario, there is potential for the stock to rebound towards the Rs.610 level soon. Traders are advised to consider taking a long position, with a strategic stop loss set at Rs.842 to manage risk effectively. The target price for this trade is Rs.900, reflecting the anticipated upward movement based on the identified technical

Shiju Koothupalakkal’s stock recommendations

6. Chalet Hotels Ltd– Koothupalakkal recommends buying Chalet Hotels around ₹700 for a target price of ₹747, keeping a stoploss at ₹680.

After a decent erosion, it has bottomed out near 640-650 zone. With a positive bullish candle formation, it has picked up well to improve the bias with the RSI indicating a positive trend reversal from the highly oversold zone, to signal a buy. With the chart looking very attractive, we suggest buying the stock–with upside potential visible–for a target of 747, keeping the stop loss of 680.

7. VA TECH WABAG Ltd– Koothupalakkal recommends buying WABAG  around ₹1,346 for a target price of ₹1,400, keeping a stop Loss at ₹1,320.

The stock has made a higher bottom formation on the daily chart, taking support near the 1,245 zone. It indicates a bullish candle formation to anticipate for further rise in the coming sessions. The RSI is currently well positioned and showing signs of reversal. We suggest to buy the stock for an upside target of ₹1,400 keeping the stop loss of ₹1,320.

8. Torrent Power Ltd– Koothupalakkal recommends buying Torrent Power at ₹1,258 for a target price of ₹1,320, keeping a stop loss at Rs1,232.

The stock has eroded significantly and, after a consolidation witnessed near the 1,230 zone, has indicated a positive candle formation to improve the bias. The RSI also signals a buy from the oversold zone, with much upside potential visible from the current rate, to carry on with the positive move further ahead. The chart is looking good, and we anticipate a further rise in the coming sessions. We suggest buying the stock for an upside target of ₹1,320 keeping the stop loss of ₹1,232.

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 making any investment decisions.