Stock market today: Trade setup for Nifty 50 to global markets; 5 stocks to buy or sell on Friday— March 07, 2025

Stock Market Today: The benchmark Nifty-50 index, ended at 22,544.70 with gains of 0.93% on Thursday, adding to earlier day gains. Bank Nifty gained 0.28% to 48,627.70, and Oil & Gas, Metal, and Pharma among others led the gains for most other sectors with exception of realty index that corrected, Boarder markets also saw sharp gains of up to 1.5%

Trade Setup for Friday

The initial hurdle of 22500 levels (opening downside gap of 28th Feb) has been surpassed by the Nifty- 50 index, closing above it. This market action signal increasing strength of upside momentum and next upside resistance to be watched around 22750-22800. Immediate support is placed at 22250 levels, said Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities

Technically, Bank Nifty has formed faces strong resistance near 48,660 levels and breakout above the same could trigger a fresh move towards 49,000. On the downside, 47,840 remains firm support, said Hrishikesh Yedve, AVP Technical and Derivatives Research at Asit C. Mehta Investment Interrmediates Ltd.

Global Markets Today

The Indian indices exhibited resilience, owing to positive global cues following Trump’s softened tariff stance on automakers from Canada & Mexico amidst the weakening dollar index. Additionally, a correction in crude oil prices, influenced by a slowdown in demand and further economic stimulus from China, ignited optimism in the energy and metals sectors. Gains were further supported by strength in heavyweight banking and consumption stocks driven by improved liquidity conditions, aid Vinod Nair, Head of Research, Geojit Financial Services.

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.Garware Hi-Tech Films Ltd – Bagadia recommends buying Garware Hi-Tech Films at ₹4490.05 keeping Stoploss at ₹4333 for a target price of ₹4800

Garware Hi-Tech Films showcases a strong bullish momentum, evident from a substantial upward movement and a significant closing around ₹4490.05. The stock has been experiencing robust buying interest, the stock has shown consistent higher highs and higher lows, a classic pattern of a strong uptrend. Notably, the trading volume during upward price movements has been substantial, reinforcing the strength of the rally. The recent sessions have seen Garware Hi-Tech stabilizing near its All – Time High, indicating that the stock is consolidating and potentially preparing for another breakout.

2. Pokarna Ltd– Bagadia recommends buying Pokarna at ₹1221.1 keeping Stoploss at ₹1180 for a target price of ₹1313

Pokarna has shown signs of resilience in the recent trading sessions, consolidating around key moving averages. The stock is currently trading at ₹1221.1, with a gain of 5.19% for the session. The chart indicates a steady upward movement after a period of correction, with the stock finding support around the ₹1175– ₹1150 zone.

Shiju Koothupalakkal’s intraday stocks for today

3. Power Grid Corporation of India Ltd– Koothupalakkal recommends buying Power Grid at Rs  267 for a Target price of ₹280 keeping Stop Loss 260

The stock has recovered from the support zone near 245 level and has indicated a decent pullback to improve the bias, with the RSI also recovering strongly from the highly oversold zone to indicate a positive trend reversal signalling a buy and can carry on with the positive move further ahead. With the chart well positioned and looking good, we suggest to buy the stock for an upside target of 280 keeping the stop loss of 260.

4. Himatsingka Seide Ltd– Koothupalakkal recommends buying Himatsingka Seide at ₹131 for a Target price of ₹144 keeping Stop Loss at ₹126

The stock has indicated a V-shaped recovery after the severe erosion witnessed to show strength and can expect for further rise in the coming days. The RSI has shown recovery from the oversold zone to signal a buy and has further upside potential from current rate. With the chart looking good, we suggest to buy the stock for target of 144 keeping the stop loss of 126.

5. Graphite India Ltd– Koothupalakkal recommends buying Graphite India at ₹410.90 for a Target price of ₹435 keeping Stop Loss at ₹400

The stock has indicated a strong pullback in the last 2 sessions with positive candle formation on the daily chart to improve the bias and can carry on with the positive move further ahead in the coming sessions. The RSI has recovered strongly from the oversold zone to signal a buy with upside potential visible from current rate. With the chart looking good, we suggest to buy the stock for an upside target of 435 keeping the stop loss of 400.

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.