Stock market today: Trade setup for Nifty 50 to global markets today; 4 stocks to buy or sell on Monday—17 February 2025

Stock Market Today: The correction phase in the markets intensified during the week ending 14 February 2025 as the Benchmark Nifty 50 index ended 2.5% lower week on week at 22,929.25. Bank Nifty at 49,099.45 ended 2.2% lower were top outperformers, while Healthcare, Auto, Realty were the top underperformers. Broader indices also ended sharp  7.4% to 9.4% lower 

Trade Setup for Monday

The current market texture is weak and if the Nifty-50 index breaks the 22800 support zone then it could slip till 22600-22500. On the other side, 23000/ is an important level to watch out. Above 23000 we could see an extension of technical bounce back till 23200 -23300, said Amol Athawale, VP-Technical Research, Kotak Securities.

For Bank Nifty now, 20 day SMA or 49300 would be the trend decider level. Below the same, it could retrace till 48000-47750. However, above 49300 it cold retest the level of 49800-50000, added Athawale.

Global Markets Today

With the earnings season behind us, market focus will shift to trends in FII flows and currency movements for further cues. Additionally, speculation regarding U.S. tariffs and their impact on global trade will remain a key factor to watch. On the domestic front, high-frequency data releases such as HSBC Manufacturing PMI, HSBC Composite PMI, and HSBC Services PMI are scheduled for the upcoming week, 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. Shiju Koothupalakkal, Technical Research Analyst at PL Capital – Prabhudas Lilladher has suggested another two stocks.

Sumeet Bagadia’s stock recommendations today

1] Bayer CropScience Limited – Bagadia recommends buying Bayer Crop at ₹4490.5 keeping Stoploss at ₹4333 for a target price of ₹4805

Bayer CropScience is currently trading at ₹4,490.5, having recently rebounded from the key support zone of ₹4,200 over the past two trading sessions. Previously, the stock was in a downtrend, forming lower highs and lower lows. However, buyers seem to have stepped in within the ₹4,200– ₹4,400 range, as indicated by rising trading volumes, signaling strong buying interest.

2] Triveni Engineering & Industries Ltd– Bagadia recommends buying Triveni Engineering at ₹370.85 keeping stoploss at ₹357 for a target price ₹399

Triveni is currently trading at ₹370.85, having recently rebounded from a key support zone. The stock has formed a bullish candlestick pattern and is on the verge of breaking out from a short-term falling trend on the daily timeframe. A successful breakout would confirm the reversal pattern, supported by rising trading volumes, indicating strong buying interest.

Shiju Koothupalakkal’s stocks to buy today

3] Chalet Hotels Ltd– has recommended buying Chalet Hotels at around ₹693.65 for a target price of ₹735 keeping a stop loss at ₹678

4] GlaxoSmithKline Pharmaceuticals Ltd– recommends buying GlaxoSmithKline Pharmaceuticals at around ₹2018 for a target price of ₹2130 keeping Stoploss at ₹1970.

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 taking any investment.