Stock market today: Trade setup for Nifty 50 to global markets; 8 stocks to buy or sell on Monday— February 24, 2025

Stock Market Today: Consolidation in the week ended 21 February’2025 continued as Nifty-50 Index at 22,795.90 ended nearly 0.6% lower, week on week.  Bank Nifty at 48,981.20 was also down a marginal 0.2% while Metals & Utilities were top outperformers, while Autos, Pharma, FMCG, and Telecom were key underperformers. The broader markets, however, rebounded as mid and small-caps ended approximately 1.5% higher each

Trade Setup for Monday

For the Nifty 50 index, we could expect a quick technical pullback rally if it succeeds in holding above 22950. If it does, it could bounce back to 23100-23200. However, if it falls below 22720, the correction wave is likely to continue, said Amol Athawale, VP-Technical Research, Kotak Securities

As long as Bank Nifty trades below the 20-day SMA, weak sentiments could continue. Falling below this level could lead to a retest of 48500, added Athwale

Global Markets Today

The upcoming holiday-shortened week is expected to remain volatile due to the expiry of February’s derivative contracts. Additionally, trends in foreign institutional investor (FII) flows and updates on U.S. tariff policies will be closely watched, said Ajit Mishra – SVP, Research, Religare Broking Ltd.

Although the market has undergone a healthy correction, the uncertainties surrounding the gradual recovery of corporate earnings and ongoing tariff-related risks continue to cast doubt on valuation levels, particularly in the broader market. India is lagging behind its Asian peers, as FII outflows remain high, with the “sell India, buy China” strategy continuing to yield returns for now, 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.RPG Life Sciences Ltd– Bagadia recommends buying RPG Life Sciences at ₹2730.05, keeping Stop loss at ₹2285 for a target price of ₹2550

RPG Life is demonstrating strong upward momentum, currently trading at 2730.05 with a solid uptrend that reflects increased buying interest. The recent formation of a strong bullish momentum suggests that buyers are actively stepping in, driving the stock higher. Following a slight pullback from its recent swing highs level of 2626, the stock found support at the 100-day Exponential Moving Average (EMA) level of 2250, from which it rebounded decisively, indicating a strong base and renewed buying pressure. 

2. The Anup Engineering Ltd– Bagadia recommends buying Anup Engineering at ₹3179.85 keeping Stoploss at ₹3050 for  a target price of ₹3380

ANUP showcases a strong bullish momentum, evident from a substantial upward movement and a significant closing around ₹3179.85. 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. The Phoenix Mills Ltd–  Dongre recommends buying  Phoenix Mills at ₹1574 keeping Stoploss at ₹1550 for a target price of ₹1605.

Looking towards 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 ₹1605. At present, the stock is maintaining a crucial support level at Rs. 1550. Given the current market price of Rs., 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.1605

4. Bajaj Finance Ltd– Dongre recommends buying Bajaj Finance at around ₹8387 keping Stoploss at ₹8250 for a target price of ₹8600

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. 8600. At present, the stock is maintaining a crucial support level at Rs.8250. Given the current market price of Rs.8427, 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. 8600.

5. SBI Life Insurance Company Ltd– Dongre recommends buying SBI Life at ₹1480 keeping stoploss at ₹1440 for a target price of ₹1525.

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. 1525. At present, the stock is maintaining a crucial support level at Rs.1440. Given the current market price of Rs.1480, a buying opportunity is emerging. This suggests that investors might consider purchasing the stock at its current price

Shiju Koothupalakkal’s stock recommendations

6. Eicher Motors Ltd– Koothupalakkal recommends buying Eicher Motors at ₹4962 for a target price of   ₹5200 keeping stoploss at ₹4870

The stock has witnessed a decent pullback to move past the important 200 period MA to improve the bias and is anticipated for further rise in the coming days. The RSI has recovered strongly from the oversold zone and is on the rise with strength indicated and with a positive trend reversal visible, it has signalled a buy from current rate. With the chart looking very attractive, we suggest to buy the stock with upside potential visible for a target of 5200 keeping the stop loss of 4870.

 7. Kaynes Technology India Ltd– Koothupalakkal recommends buying Kaynes Technology at ₹4367 for a target price of ₹4570 keeping Stoploss at ₹4270

The stock has indicated a significant recovery after a short period of consolidation near the 3900 zone with stability signified and has improved the bias with a positive candle formation visible on the daily chart. The RSI has picked up from the highly oversold zone to signal a buy and is currently well positioned with much upside potential visible from current rate. With the risk-reward very much favourable, we suggest to buy the stock for an upside target of 4570 keeping the stop loss of 4270.

8. Gabriel India Ltd – Koothupalakkal recommends buying Gabriel at around ₹480 for a target price of ₹507 keeping a Stoploss at ₹470

The stock after indicating a higher bottom formation pattern on the daily chart to move above the 50EMA zone of 467 level, the bias has improved and we expect further rise in the coming sessions. The RSI is well placed and with strength indicated, there is much scope for further upward move. With the chart looking good, we suggest buying the stock for an upside target of 507, keeping the stop loss of 470.

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.