The stock market experienced a week of consolidation ending on March 13, 2025, with major indices like the Nifty-50 and Sensex closing down by over 0.5%. The Nifty-50 settled at 22,397.2, while the Sensex finished at 73,828.91. The Bank Nifty mirrored this trend, closing at 48,060.40. While healthcare stocks showed resilience, sectors such as auto, IT, and real estate struggled, and midcaps and small caps saw declines of 2-4%.
Trade Insights for Monday
For those monitoring the Nifty-50 index, a critical breakout point is identified at 22,650. Should the index surpass this level, it could rally towards 22,800-22,900. However, if it drops below 22,300, increased selling pressure may drive it down to the 22,100-22,000 range, according to Amol Athawale, VP of Technical Research at Kotak Securities.
As for the Bank Nifty, a significant support level is established at 47,700. Staying above this mark could signal a potential recovery for the index.
Global Market Outlook
Looking ahead, market stakeholders are keenly awaiting the U.S. Federal Reserve’s monetary policy review on March 19. Recent inflation figures appear encouraging, yet the prospect of an interest rate cut remains uncertain due to ongoing trade tensions. The Fed’s commentary will be vital in shaping market sentiment.
In local markets, foreign institutional investor (FII) activity will be closely watched, as recent selling pressure from these investors has ramped up once again following a brief respite. An uptick in FII buying could offer a much-needed boost to market performance, notes Ajit Mishra, SVP of Research at Religare Broking Ltd.
Stocks to Consider Buying Today
Sumeet Bagadia, Executive Director at Choice Broking, has put forth two notable stock recommendations. Additionally, Ganesh Dongre from Anand Rathi and Shiju Koothupalakkal from Prabhudas Lilladher have shared their stock picks for the day. Noteworthy suggestions include:
- Avenue Supermarts Ltd (DMART)
- Archean Chemical Industries Ltd
- Divis Laboratories Ltd
- Sun Pharmaceutical Industries Ltd
- ITC Ltd
- Kalyan Jewellers India Ltd
- Mangalore Refinery and Petrochemicals Ltd
Stock Highlights from Sumeet Bagadia
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Avenue Supermarts Ltd (DMART)
- Current Price: ₹3,797.10
- Target Price: ₹4,063
- Stoploss: ₹3,664
DMART shows robust bullish momentum after bouncing back from a key support area. The stock’s recent bullish candlestick formation, coupled with increased trading volume, suggests a strong buying interest. The Relative Strength Index (RSI) stands at 63.36, indicating more upside potential.
- Archean Chemical Industries
- Current Price: ₹570
- Target Price: ₹610
- Stoploss: ₹550
After a sharp decline, Archean is showing signs of recovery and aims to establish an uptrend. With strong support around ₹410 and closing above its 20-day and 50-day EMAs, a decisive break past the 200-day EMA could affirm its bullish outlook.
Recommendations from Ganesh Dongre
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Divis Laboratories Ltd
- Current Price: ₹5,615
- Target Price: ₹5,750
- Stoploss: ₹5,550
The stock is currently in an oversold zone, and a bullish reversal pattern suggests a potential rise towards ₹5,750.
-
Sun Pharmaceutical Industries Ltd
- Current Price: ₹1,685
- Target Price: ₹1,720
- Stoploss: ₹1,640
This stock is also displaying a bullish reversal pattern, indicating a possible upward movement.
- ITC Ltd
- Current Price: ₹411
- Target Price: ₹420
- Stoploss: ₹405
ITC has shown signs of a bullish reversal and presents a buying opportunity as it approaches a critical support level.
Picks from Shiju Koothupalakkal
-
Kalyan Jewellers India Ltd
- Current Price: ₹430
- Target Price: ₹455
- Stoploss: ₹420
After a notable decline, Kalyan Jewellers shows potential for a positive turnaround, making it a solid buy.
- Mangalore Refinery and Petrochemicals Ltd (MRPL)
- Current Price: ₹119.30
- Target Price: ₹127
- Stoploss: ₹116
MRPL is experiencing a resurgence from its lows, supported by strong trading volumes and an upward RSI trend.
As the market navigates through challenges, these stock insights could aid investors in making informed decisions. Stay tuned for further updates!
