Stock market today: Trade setup for Nifty 50 to Q3 results today; 5 stocks to buy or sell on Monday— 10 February 2025

Stock Market Today: The benchmark Nifty-50 index and S&P BSE  Sensex during the week ending 7 February 2025, managed to end with marginal gain (0.2% week on week) at 23,559.95 and 77,860.19 respectively. Bank Nifty at 50,158.85 gained more than 1% while healthcare and Autos remained as key gainers while Industrials & Utilities were among the key losers. The broader market ended on a flat note

Trade Setup for Monday

For Nifty, the recent swing low of 23,200 remains a crucial support level to sustain a positive positional bias, while the 23,900 mark is a major resistance. A breakout above this level could drive the index towards 24,200, said Ajit Mishra – SVP, Research, Religare Broking Ltd.

Bank Nifty index faces stiff resistance at 50,500–50,600, where fresh call writing has intensified. Meanwhile, the 50,000–49,700 support zone remains pivotal, as per SAMCO Securities.

Global Markets and Q3 Results Today

The Q3FY25 earnings season has been broadly in line with our expectations. As expected, the RBI reduced the repo rate by 25 and the focus has shifted to addressing growth concerns, with inflation expected to move toward the 4% mark over the next few months. Factors like uncertainties on US President’s trade policies and retaliatory tariffs, a relatively hawkish stance from the Fed and continued capital outflows pose some challenges to the global and domestic equity markets, said Shrikant Chouhan, Head Equity Research, Kotak Securities.

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.

Sumeet Bagadia’s stock recommendations today

1] Aarti Pharmalabs: Bagadia recommends buying Aarti Pharmalabs at ₹740.85, keeping Stoploss at ₹715, for a target price of ₹790

Aarti Pharmalabs is currently trading at ₹740.85. After a period of small falls and sideways consolidation, the stock has lately broken the neckline levels of ₹715 and is rising quickly on the upside with substantial volume… There are expectations of further upward movement, potentially reaching ₹790 levels. On the downside, substantial support is evident near ₹715.

2] NDR Auto Components: Bagadia recommends buying NDR Auto Components at ₹788.25, keeping Stoploss at ₹760 for a target price of ₹840

NDR Auto is currently positioned at 788.25 levels, has shown robust upward momentum. The stock’s recent breakout was supported by significant trading volume, indicating strong investor interest. The chart reveals a steady climb, with the 20-day EMA trending upward and converging towards the 50-day EMAs. This alignment of moving averages suggests a continuation of the bullish trend if supported by further buying pressure., affirming its inherent strength.

Ganesh Dongre’s stocks to buy today

3] ITC: Dongre recommends buying ITC at ₹430, keeping Stoploss at ₹415 for  a target price of ₹460.

In the recent short-term trend analysis of the stock, currently the stock is in an oversold zone. Looking at 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 ₹460. The stock is currently maintaining a crucial support level at Rs.415-420 level. Given the current market price of Rs.430, 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.460.

4] Torrent Power: Dongre recommends buying Torrent Power at ₹1405, keeping Stoploss at ₹1370 for a target price of ₹1450

A notable bullish reversal pattern has emerged in the stock’s recent short-term trend analysis. This technical pattern suggests the possibility of a temporary retracement in the stock’s price, potentially reaching around Rs.1450. The stock is currently maintaining a crucial support level at Rs.1370. A buying opportunity is emerging, given the current market price of Rs.1405. This suggests that investors might consider purchasing the stock at its current price, anticipating a rise towards the identified target of Rs.1450

5] Voltas: Dongre recommends buying Voltas at ₹1380, keeping stoploss at ₹1360 for a target price of ₹1430.

A notable bullish reversal pattern has emerged in the stock’s recent short-term trend analysis. This technical pattern suggests the possibility of a temporary retracement in the stock’s price, potentially reaching around Rs. 1430. The stock is currently maintaining a crucial support level at Rs.1360. Given the current market price of Rs.1380, 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. 1430.

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.