Stock market today: Trade setup for Nifty 50 to global markets; 8 stocks to buy or sell on Monday— March 10, 2025

Stock Market Today: The markets made some recovery during the week ending 7 March and the benchmark Nifty-50 index ended with almost 2% gains at 22,552.50. The Bank Nifty at 48,497.50 ended with gains of 0.3% while metal, energy, and pharma were other key gainers. The broader market outperformed with sharper gains of 2-5.% during the week.

Trade Setup for Monday

For Nifty-50 index , 22,400 and 22,300 would be key support zones for positional traders. Above these levels, it could bounce back to the 20-day SMA or 22,750. Further upside may continue, potentially lifting the indices up to 22,900. Conversely, if the market falls below 22,300, the sentiment could change, said Amol Athawale, VP-Technical Research, Kotak Securities.

For Bank Nifty, the double-bottom support zone at 48,000 will act as a critical level, and above this level, it could move up to the 50-day SMA, targeting 49,300 and 49,700. However, below 48,000, the uptrend would become vulnerable, added Athawale.

Global Markets Today

The global sentiment improved following reports of a delay in U.S. tariffs and the possibility of further negotiations, which helped stabilize financial markets. Additionally, a weaker dollar and a decline in crude oil prices further boosted investor confidence

The upcoming trading week will be a holiday-shortened one, with market participants closely monitoring global developments in the absence of major domestic events. Key factors to watch include fresh updates on tariff negotiations, geopolitical tensions, and their impact on the movement of the U.S. dollar and crude oil prices., said Ajit Mishra – SVP, Research, Religare Broking 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] Deepak Fertilisers & Petrochemicals Corporation Ltd– Bagadia recommends buying Deepak Fertilisers at ₹1116.15 keeping Stoploss at ₹1077 for a target price of ₹1194

Deepak Fertilisers is currently trading at ₹1,116.15, having recently surged from a key support zone. The stock has formed a bullish candlestick and is developing a double-bottom pattern on the daily timeframe, indicating sustained bullish momentum. The surge in volume further reinforces the breakout’s credibility, reflecting strong buying interest.

2] Mazagon Dock Shipbuilders Ltd– Bagadia recommends buying Mazagon Dock at ₹2338.20 keeping Stoploss at ₹2256 for a target price of ₹2502

MAZDOCK is currently trading at ₹2,338.20 and showing a strong surge from its support level. The stock is trading within a long-term descending triangle pattern and has reversed from its support zone, entering a corrective phase toward higher levels. The formation of a strong bullish candle, coupled with rising volumes, indicates robust buying momentum and further strengthens the bullish outlook.

Ganesh Dongre’s stocks to buy today

3] Max Financial Services Ltd– Dongre recommends buying Max Financial Services (MFSL) at ₹1035 keeping Stoploss at ₹1020 for a target price of ₹1075.

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.1075. At present, the stock is maintaining a crucial support level at Rs.1020. Given the current market price of Rs.1035, 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.1075

4] ITC Ltd– Dongre recommends buying ITC at ₹403 keeping stoploss at ₹395 for a target price of ₹418.

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.418 . At present, the stock is maintaining a crucial support level at Rs.395. Given the current market price of Rs.403, 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. 418.

5] Indian Energy Exchange Ltd– Dongre recommends buying Indian Energy Exchange (IEX) at ₹164 keeping Stoploss at ₹158 for a target price of ₹170.

In the recent short-term trend analysis of the stock, currently stock is into oversold zone. 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 ₹170. At present, the stock is maintaining a crucial support level at Rs.155-158 level. Given the current market price of Rs.164, 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.170.

Shiju Koothupalakkal’s intraday stocks for today

6] Jupiter Wagons Ltd– Koothupalakkal recommends buying Jupiter Wagons Ltd at ₹315.85 for a target price of ₹340  Stop Loss ₹305

The stock, after the steep correction, has bottomed out near the 272-276 zone, and, with a decent pullback witnessed and rising volume participation, has improved the bias to anticipate a further rise in the coming days. The RSI has indicated a positive trend reversal from the oversold zone to signal a buy and has immense upside potential from current levels. With the chart well positioned and looking good, we suggest to buy the stock for an upside target of 340 keeping the stop loss of 305.

7] Taj Gvk Hotels & Resorts Ltd – Koothupalakkal recommends buying Taj Gvk Hotels at Rs  484 for a target price of ₹520 keeping stoploss at ₹473

The stock has maintained the positive bias intact and is hovering above the long-term trendline support zone of 470 level and currently with a positive candle formation on the daily chart has strengthened the trend and further rise is expected in the coming days with a possibility of breakout above 502 zone. The RSI is well placed and with strength indicated has further upside potential from current rate. With the chart looking good, we suggest to buy the stock for target of 520 keeping the stop loss of 473 level.

8] Kaynes Technology India Ltd– Koothupalakkal recommends buying Kaynes Technology at around ₹4457 for a target price of ₹4670 keeping Stop Loss at ₹4360

The stock, after a decent consolidation phase maintaining support near the 3870 zone, has picked up well. A positive candle formation pattern on the daily chart has improved the bias, and the RSI, on the rise indicating a positive trend reversal, has signaled a buy to anticipate a further rise in the coming days. With the chart looking attractive, we suggest buying the stock for an upside target of 4670, keeping the stop loss of 4360.

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.