By Soumya Ranjan 
Stock Market Today: According to experts, unless the Nifty-50 index recovers the 25,000 level, it may continue to be under pressure and move toward the 24,800–24,750 range.
Stock Market Today:
On Monday, the Benchmark Nifty-50 closed another range-bound session at 24,945.45, down 0.3%. While IT and Oil & Gas were among the major losers, Realty, Auto, and Pharma led the gains in the Bank Nifty’s 0.12% gain to 55,420.70. Small and mid-sized companies saw gains of up to 0.5% in the larger indices.
Trade Setup for Tuesday
Unless it recovers the 25,000 level, the Nifty-50 index might continue to be under pressure. The Nifty may move in the direction of the 24,800–24,750 range on the downside. If it drops below 24,750, a more significant correction might be in store. On the other hand, according to Rupak De, Senior Technical Analyst at LKP Securities, a move above 25,000 might lead to a rally toward the 25,250–25,350 range.
For the Bank Nifty, immediate support is placed at 54,800, as per Bajaj Broking.
Global Markets and Q4 Results
As China’s retail sales growth slowed and Moody’s downgraded the U.S. sovereign credit rating, the domestic market saw consolidation. The main laggards were IT stocks, which were indicative of a muted outlook after the U.S. downgrade. But thanks to higher retail investor activity and comparatively better earnings growth, the overall market beat important indices. Positive sentiment and expectations of sustained policy support are likely to keep defense stocks in the public eye. Vinod Nair, Head of Research at Geojit Investments Limited, stated that despite the profit booking, sustained FII inflows supported by favorable macroeconomic conditions are anticipated to sustain overall market optimism.
Stocks to buy today
Choice Broking Executive Director Sumeet Bagadia has suggested two stocks for today. Anand Rathi’s Ganesh Dongre, Senior Manager of Technical Research, recommended three stocks, while Prabhudas Lilladher’s Shiju Koothupalakkal, Senior Manager of Technical Research, recommended two stocks.
These Include Caplin Point Laboratories Ltd , HEG Ltd, PB Fintech Ltd, Bank of Baroda , ICICI Prudential Life Insurance Company Ltd, Tourism Finance Corporation of India Ltd , One 97 Communications Ltd and India Pesticides Ltd.
Sumeet Bagadia’s stock picks
- Caplin Point Laboratories Ltd– Bagadia recommends buying Caplin Point Laboratories at ₹2161.1 keeping Stoploss at ₹2080 for a target price of ₹2300
In recent trading sessions, CAPLIPOINT has demonstrated resilience by consolidating around important moving averages. The stock has gained 7.52% for the session and is now trading at ₹2161.1. Following a period of correction, the chart shows a consistent upward movement, with the stock finding support in the ₹1990–₹2050 range.
2. HEG Ltd– Bagadia recommends buying HEG at ₹528.7 keeping Stoploss at ₹510 for a target price of ₹565
A significant upward movement and a noteworthy closing around ₹528.7 demonstrate HEG’s strong bullish momentum. Strong buying interest and a consolidation breakout with high volume have been observed in the stock, indicating bullish momentum and possible upside continuation.
Ganesh Dongre’s stocks to buy today
3. PB Fintech Ltd – Dongre recommends buying PB Fintech or POLICYBZR at ₹1695 keeping Stoploss at ₹1670 for a target price of Rs1840
POLICYBZR is showing a strong bullish setup in the short-term trend outlook, which makes it an attractive buy candidate. The stock has developed a Bullish Engulfing pattern on the hourly chart, which is a well-known signal that suggests a possible reversal after recent corrective action. The stock presents a good entry opportunity at ₹ 1695 and is currently holding key support close to ₹ 1670. Technical indicators indicate that momentum might increase toward the ₹ 1840 target. To control downside risk, a sensible stop-loss should be kept at ₹ 1670.
4. Bank of Baroda – Dongre recommends buyig Bank of Baroda or BANKBARODA at around ₹239 keeping Stoploss at ₹230 for a target price of ₹ 250
On its daily chart, BANKBARODA has formed a Bullish Engulfing pattern following a period of decline, indicating positive indications of a trend reversal. At lower levels, the stock is showing signs of renewed buying interest. With a stop-loss at 230 and a target of 250, BANKBARODA presents a short-term buying opportunity at 239 with strong support around 230.
5. ICICI Prudential Life Insurance Company Ltd– Dongre recommends buying ICICI Prudential Life or ICICIPRULI at around ₹625 keeping Stoploss at ₹610 keeping target price of ₹655.
The bullish reversal candlestick pattern that ICICIPRULI is displaying close to its critical support zone suggests that recent selling may be slowing down. The positive bias is further supported by the fact that the stock is trading well above its 50-day EMA. A protective stop-loss is advised at ₹ 610 to limit downside exposure, and ICICIPRULI offers a buying opportunity with a current level of about ₹ 625 for a possible move toward ₹ 655.
Shiju Koothupalakkal’s intraday stocks for today
6. Tourism Finance Corporation of India Ltd-Koothupalakkal recommends buying Tourism Finance Corporation or TOURISM FINANCE at around ₹206 for a target price of ₹217 keeping Stop loss at ₹201
The stock has been rising steadily and maintaining a strong uptrend. Following a brief period of consolidation, it has once again shown a positive candle formation with an improvement in the bias, indicating that it will continue to rise in the upcoming sessions. After cooling off from the extremely overbought area, the RSI has improved enough to predict more upward movement. Given the favorable chart, we advise purchasing the stock with a stop loss at ₹201 and an upside target of ₹219.
7. One 97 Communications Ltd – Koothupalakkal recommends buying One 97 Communications or PAYTM at around ₹870 for a Target price of ₹ 917 keeping Stop loss at around ₹850
The stock has maintained a strong positive trend overall and currently, after a short period of correction has once again gained momentum taking support near the important 50EMA level at ₹820 zone, indicating a positive candle pattern to improve the bias anticipating further rise in the coming sessions. The RSI has corrected from the overbought zone and has consolidated for quite some time with currently indicating a positive trend reversal to signal a buy having upside potential from current rate. With the chart technically looking good, we suggest buying the stock for an upside target of ₹917 level keeping the stop loss of ₹850 level.