Stock market today: Trade setup for Nifty 50 to global markets; 8 stocks to buy or sell on Wednesday— March 05, 2025

Stock Market Today: The correction phase markets continued on Tuesday as the benchmark Nifty-50 Index ended 0.17% lower at 22,082.65. Bank Nifty, however, ended 0.27% higher at 48,245.20. The metals index was a key gainer, while the auto and IT index were key losers. In the broader markets, small caps rebounded slightly, though mid caps ended flat.

Trade Setup for Wednesday

The benchmark Nifty-50 indices is trading near the key support zones 22000 and 21800. If the market recovers sharply from the lows of 21800, then we may see a strong reversal of the recent sell-off seen from the highs of 23800. A close below 21800 will be negative increasng the chances of touching 21500, said Shrikant Chouhan, Head Equity Research, Kotak Securities.

For Bank Nifty demand zone of 47,840, makes it an essential support, while on the upside, 49,000 will remain a challenging barrier, said Hrishikesh Yedve, AVP Technical and Derivatives Research at Asit C. Mehta Investment Interrmediates Ltd.

Global Markets Today

The domestic market exhibited a recovery from today’s lows but remained in negative territory due to adverse global cues related to escalating global trade tensions. Nevertheless, the broader market outperformed, primarily driven by value buying opportunities in small-cap stocks. Currently domestic economic indicators are favourable while investors await clarity on global trades for a consistency in momentum., said 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. TAJGVK Hotels & Resorts Ltd– Bagadia recommends buying TAJGVK at ₹481.75 keeping Stoploss at ₹460 for a target price of ₹520

TAJGVK is currently trading at the levels of 481.75, showing strong bullish momentum. The stock has been forming higher highs and higher lows, indicating an uptrend. It recently bounced from the support levels near 405 and surged towards its recent high. The price action suggests a consolidation breakout, confirming strength in the trend. Notably, it recently reached a fresh 52-week high of 498.25. Trading significantly above its 20-day EMA, 50-day EMA, and 200-day EMA, TAJGVK exhibits robust support across short-term and long-term trends.

2. InterGlobe Aviation Ltd (INDIGO)– Bagadia recommends buying INDIGO at ₹4598.7 keeping Stoploss at ₹4430 for a target price of ₹4888

INDIGO showcases a strong bullish momentum, evident from a notable uptrend from the support levels around 4400, in close proximity to its 20 Day Exponential Moving Average (EMA). substantial upward movement and a significant closing around ₹4598.7 The stock has been experiencing robust buying interest, leading to consecutive gains that could potentially lead to further upward movement after the recent surge, offering an optimistic outlook for investors

Ganesh Dongre’s stocks to buy today

3. SRF Ltd- Dongre recommends buying SRF at ₹2850 keeping Stoploss at ₹2800 for target ₹3000.

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 ₹3000. At present, the stock is maintaining a crucial support level at Rs.2800. Given the current market price of Rs. 2850 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.3000

4. Max Financial Services Ltd (MFSL) – Dongre recommends buying MFSL at ₹1003 for a Stoploss at ₹990 for a target price of ₹1034

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. 1034. At present, the stock is maintaining a crucial support level at Rs.990. Given the current market price of Rs. 1003, 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. 1034.

5. Amber Enterprises India Ltd– Dongre recommends buying AMBER at ₹5750 keeping Stoploss at ₹5700 for a target price of ₹5850.

In the recent short-term trend analysis of the stock, a notable bullish pattern has emerged. This technical pattern suggests the possibility of a temporary retracement in the stock’s price, potentially reaching around Rs. 5850. At present, the stock is maintaining a crucial support level at Rs.5700. Given the current market price of Rs. 5750, a buying opportunity is emerging. This suggests that investors might consider buying the stock at its current price 5750,

Shiju Koothupalakkal’s intraday stocks for today

6. CG Power and Industrial Solutions Ltd– Koothupalakkal’ recommends buying CG POWER at ₹603.50 for a Target of ₹635 keeping Stoploss at ₹588

The stock after the slide has indicated consolidation near the 580 zone with currently having a positive candle formation has improved the bias with the RSI on the rise indicating strength and has much upside potential to 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 635 keeping the stop loss of 588.

7. VA Tech Wabag Ltd– Koothupalakkal recommends buying VA Tech Wabag at ₹1298 for a   Target price of ₹1400 keeping Stop Loss at ₹1270

The stock has indicated a triangular pattern on the daily chart with currently taking support near 1225 zone and with a positive candle formation has shown some improvement and further rise is anticipated in the coming sessions. The RSI is well positioned with strength indicated and with the chart looking good, we suggest to buy the stock for target of 1400 keeping the stop loss of 1270.

8. Kalyan Jewellers India Ltd– Koothupalakkal recommends buying Kalyan Jewellers at ₹459.50 for a Target at ₹487  keeping Stop Loss at ₹448

The stock has corrected well and has taken support near the 425 zone almost forming a double bottom formation pattern on the daily chart and with a positive trend reversal indicated, the bias has improve to some extent. The RSI is well placed and has signalled 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 487 keeping the stop loss of 448.

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.