Stock market today: Trade setup for Nifty 50 to global markets; 8 stocks to buy or sell on Friday— February 21, 2025 | Stock Market News

Stock Market Today: Consolidation in the markets continued on Thursday as benchmark Nifty 50 Index ended 0.09% lower at 22,913.15. The Bank Nifty saw a steeper 0.49% cut to end at 49,334.55, while the IT index was the other prominent loser. Metals, Oil & Gas, and Auto sectoral index, on the other hand, saw smart gains, and even broader markets ended half a per cent higher

Trade Setup for Friday

For the Nifty 50 Index, the 22950 level is crucial to watch. If the market moves above 22950, it could rally to the 23050-23100 range. Conversely, a breach of 22800 could change the sentiment, potentially leading to a retest of the 22725-22650 levels, said Shrikant Chouhan, Head of Equity Research, Kotak Securities.

Key support for Bank Nifty is placed at 48,500-48,300 levels which aligns with the bullish gap from January 28, 2025, as per Bajaj Broking.

Global Markets Today

Domestic equity indices experienced minor losses as rising concerns over potential U.S. tariffs on Indian goods led to capital outflows. Additionally, the proposed trade policy is expected to exert inflationary pressures, with the latest Fed Minutes indicating that an interest rate cut may be delayed. However, the broader market showed an initial recovery, supported by expectations of improving consumption from Q1FY26, driven by moderating domestic inflation and the recent RBI rate cut, said Vinod Nair, Head of Research, Geojit Financial Services 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] Bharat Electronics Ltd (BEL)– Bagadia recommends Bharat Electronics (BEL) buying BEL at around ₹260.25, keeping Stoploss at ₹251 for a target price of ₹278

BEL is currently trading at 260.25 and remains in a downtrend, as indicated by the formation of lower highs and lower lows on the daily chart. However, recent price action suggests a potential reversal, with a bullish candle forming after a prolonged decline. The stock has rebounded from the key support level of 250, which has previously acted as a strong base. Currently, BEL is trading below the 20-day, 50-day, and 100-day Exponential Moving Averages (EMA), with the 200-day EMA serving as a significant resistance level. A sustained move above these moving averages would confirm a bullish reversal. In the short term, the immediate resistance is at 265-270, and if this level is breached, the stock could target 278.

2] NTPC: Bagadia recommends buying NTPC at ₹325.05, keeping Stoploss at ₹313 for a target price of ₹348.

NTPC is trading at ₹325.05, having recently rebounded from a key support zone. The stock has formed a bullish candlestick and has broken out of a long-term falling trendline on the daily timeframe. This breakout is supported by a significant increase in trading volume, indicating strong buying interest from investors.

Ganesh Dongre’s stocks to buy today

3] Home First Finance Company India Ltd– Dongre recommends buying Home First Finance at ₹942 Stoploss at ₹915 for a target price of ₹975.

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 ₹975. At present, the stock is maintaining a crucial support level at Rs. 915. Given the current market price of Rs., 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.975.

4] SRF Ltd– Dongre recommends buying SRF at ₹2800, keeping Stoploss at ₹2700 for a target price of ₹2940.

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. 2940. At present, the stock is maintaining a crucial support level at Rs.2700. Given the current market price of Rs.2800, 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. 2940.

5] Gujarat State Petronet Ltd (GSPL) – Dongre recommends buying GSPL at ₹287 keeping Stoploss at ₹280 for a target price of ₹300.

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. 300. At present, the stock is maintaining a crucial support level at Rs.280. Given the current market price of Rs.287, 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. 300.

Shiju Koothupalakkal’s stock recommendations

6] Cummins India Ltd – Koothupalakkal recommends buying Cummins India at ₹2818 for a target price of ₹2950  keeping Stop Loss ₹2760

The stock has formed a strong base near 2660 zone and once again with a positive bullish candle has signified strength to carry on with the positive move further ahead in the coming days. The RSI is on the rise with strength indicated and with a positive trend reversal visible, it has signalled a buy from current rate. With the chart looking very attractive, we suggest to buy the stock with upside potential visible for a target of 2950 keeping the stop loss of 2760.

7] Exide Industries Ltd-  Koothupalakkal recommends buying Exide at ₹374.95 for a target price of ₹400 keeping Stoploss at ₹365

The stock has indicated a higher bottom formation on the daily chart taking support near 348 zone and with a bullish candle formation has picked up quite significantly to improve the bias and anticipate for further rise in the coming sessions.  The RSI is currently well positioned and showing signs of reversal, we suggest to buy the stock for an upside target of 400 keeping the stop loss of 365.

8] Mahindra & Mahindra Ltd- Koothupalakkal recommends buying Mahindra & Mahindra at around ₹2839 for Target price of ₹2980 keeping Stop Loss 2770

The stock after the significant correction has once again arrived near the previous low made at around 2670 zone and has indicated a decent pullback to improve the bias. The RSI after a good correction has arrived near the oversold zone and indicated a positive trend reversal to signal a buy with much upside potential visible. With the chart looking good, we anticipate a further rise in the coming sessions and suggest buying the stock for an upside target of 2980, keeping the stop loss of 2770.

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.