Women’s Day top pick: Sumeet Bagadia of Choice Broking suggests THIS stock to buy on March 7; Do you own? | Stock Market News

Women’s Day stock pick: On the occasion of Women’s Day 2025, Sumeet Bagadia, Executive Director at Choice Broking, has recommended Coal India as the top stock pick of the day to buy for the medium to long term. The D-Street expert has provided the target levels for the world’s largest state-owned coal producer’s stock to buy during tomorrow’s trading session.

Sumeet Bagadia on Women’s Day stock pick: Buy Coal India at ₹374.5 and add up to ₹360 for the target price (TP) of ₹435. According to BSE, the public sector undertaking (PSU) commands a market capitalisation of ₹2,35,601.10 crore.

Also Read: Coal India Q3 result: Net profit falls 17.5% YoY; second interim dividend of ₹5.60 declared

Women’s Day Stock Pick: Sumeet Bagadia suggests Coal India for March 7

According to Bagadia, Coal India is currently taking strong support at the ₹350 level on the monthly chart, reinforcing its importance as a key demand zone. The stock also respects a rising trendline on the weekly chart, indicating a sustained uptrend. The price action suggests a bullish reversal from the bottom as it consolidates while forming higher lows. 

“This accumulation phase is supported by significant volume on the daily chart, signalling potential strength in the ongoing trend,” said the market expert. If the stock closes above the ₹380 level, it could unlock further upside potential of approximately 15 per cent, with a TP of ₹435. 

Also Read: Coal India share price gains over 3% despite stock market crash. Here’s why

Women’s Day Stock Pick: Technical View for Coal India stock

Any dip towards ₹360 can be considered a buying opportunity for further gains, as the stock remains well-supported. The immediate support is positioned at ₹350, aligning with the long-term monthly support, while the immediate resistance is at ₹390, marking a key hurdle for momentum.

“Technically, Coal India trades above its 200-day EMA, reflecting a bullish undertone. The RSI is currently at 39.38 and trending upward, indicating a gradual shift in momentum. If the price sustains above key levels, the stock could witness a strong upward move in the coming sessions,” said Bagadia on the Coal India stock.

Also Read: Coal India declines 4.5%, trades near 52-week low on production drop

Stock market today

Domestic equity benchmarks Sensex and Nifty 50 settled higher after a choppy session driven by by heavyweight Reliance Industries and metal stocks, while a drop in crude oil prices also aided sentiment. US President Donald Trump softened stand on tariffs which supported global cues.

The 30-share BSE Sensex rallied nearly 610 points to reclaim the 74,000 mark and settled at 74,340.09 while Nifty advanced 207.40 points to close above 22,500. Sensex marked its second straight day of gains. During the day, it surged 660.57 points to hit a high of 74,390.80. The broader 50-share barometer jumped 219.15 points or 0.98 per cent to hit an intraday high of 22,556.45.

Broader markets also closed higher with the BSE smallcap gauge climbing 1.63 per cent and midcap index advancing 0.65 per cent. The blue-chip Nifty 50 rose for two straight sessions, gaining about two per cent, after posting its longest losing streak on record on Tuesday. The NSE index is down 14.2 per cent from its record highs hit in late September. 

Disclaimer: The views and recommendations provided in this analysis are those of individual analysts or broking companies, not Mint. We strongly advise investors to consult with certified experts, consider individual risk tolerance, and conduct thorough research before making investment decisions, as market conditions can change rapidly, and individual circumstances may vary.