Stock market today: Trade setup for Nifty 50 to global markets; 8 stocks to buy or sell on Wednesday— March 12, 2025

Stock Market Today: Nifty-50 Index managed to end the volatile trading session on Tuesday with a gain of 0.17%, at 22,497.90. The Bank Nifty at 47,853.95, however, ended 0.75% lower, and the IT sector was another key loser. Most other sectors, led by Realty and Oil & Gas, ended higher. Broader markets showed a mixed trend, with Mid caps ending with gains, though the small-cap index ended in the red

Trade Setup for Wednesday

Today’s recovery from the lower levels remains encouraging. Any level above 22700 would confirm a bullish trend reversal for the Nifty, potentially pushing it toward the target of 23000. Support has now shifted up to around 22300 levels as per Nandish Shah – Deputy Vice President, HDFC Securities.

For Bank Nifty, unless the index reclaims 48,500 on a closing basis, short-term weakness is likely to persist. The key support levels are positioned at 47,450, followed by 47,200, as per Om Mehra, Technical Analyst, SAMCO Securities.

Global Markets Today

Despite significant selloffs in the U.S. and other Asian markets driven by concerns over an economic slowdown caused by the ongoing trade war, the domestic market is showing signs of a gradual recovery. Its relatively lower volatility can be attributed to a moderation in valuations following recent corrections, along with supportive factors such as falling crude oil prices, an easing Dollar Index, and expectations of a rebound in domestic earnings. These elements are expected to contribute to stability amid prevailing trade uncertainties. Meanwhile, attention remains on the upcoming retail inflation data, which could provide insights into potential interest rate cuts, said Vinod Nair, Head of Research, Geojit Financial Services.

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. PI Industries Ltd– Bagadia recommends buying PI Industries at ₹3353.90 keeping Stoploss at ₹3236 for a target price of ₹3589

PI Industries is currently trading at 3353.9 and is showing signs of recovery after a prolonged downtrend. The stock has formed a potential bottom reversal pattern, indicating the possibility of a trend reversal. Recent price action, accompanied by strong volume, suggests renewed buying interest. The stock is currently trading above the 20-day EMA, signalling a short-term shift in momentum. A sustained move above the 50-day EMA would further reinforce the bullish outlook. The immediate resistance level is at 3435, and if the stock successfully surpasses this level, it could achieve a short-term target of 3589.

2. Indus Towers Ltd – Bagadia recommends buying Indus Towers at ₹341.40 keeping Stoploss at ₹329 for a target price of ₹365

Indus Tower is currently trading at ₹341.40, exhibiting bullish momentum and signaling a potential breakout. The stock appears poised to break out from a descending triangle pattern on the daily timeframe chart, with increasing trading volumes indicating heightened buying interest among investors. If Indus Towers sustains levels above ₹350, it may advance toward a target of ₹365

Ganesh Dongre’s stocks to buy today

3. Zomato Ltd– Dongre recommends buying Zomato at ₹208 keeping Stoploss at ₹200 for a target price of ₹222

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.222. At present, the stock is maintaining a crucial support level at Rs.200. Given the current market price of Rs.208, 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.222

4. Axis Bank Ltd– Dongre recommends buying Axis Bank at ₹1025 keeping Stoploss at ₹1000 for a target price of ₹1060.

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.1060 . At present, the stock is maintaining a crucial support level at Rs.1000. Given the current market price of Rs.1025, 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. 1060.

5. ICICI Bank Ltd– Dongre recommends buying ICICI Bank at ₹1245 stoploss at ₹1215 for a target price of ₹1270.

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. 1270. At present, the stock is maintaining a crucial support level at Rs.1215. Given the current market price of Rs.1245, 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. 1270.

Shiju Koothupalakkal’s intraday stocks for today

6. Taj Gvk Hotels & Resorts Ltd– Koothupalakkal recommends buying Taj Gvk Hotels at ₹500 for a target price of ₹550 keeping  Stoploss at ₹480

The stock has overall maintained the positive bias in this choppy market, and is on the verge of a breakout above 505-510 zone which can trigger for fresh upward move in the coming sessions. With the RSI well positioned and indicating strength, we anticipate further rise with much upside potential visible from current rate. With the chart well positioned  and looking good, we suggest to buy the stock for an upside target of 550 keeping the stop loss of 480.

7. GlaxoSmithKline Pharmaceuticals Ltd– Koothupalakkal’ recommends buying GlaxoSmithKline Pharmaceuticals at ₹2656 for a target price of ₹2800 keeping Stop Loss  at ₹2600

The stock has witnessed a significant volume participation activity with rising price action visible on the hourly chart to signify strength and further rise is anticipated in the coming sessions. With the chart overall maintained with a positive bias, there is much scope for further upward movement and with the chart looking good, we suggest to buy the stock for target of 2800 keeping the stop loss of 2600 level.

8 GMR Airports Ltd – Koothupalakkal’ recommends buying GMR Airports at ₹74.10 for target price of ₹79  keeping  Stoploss at ₹72

The stock has indicated a positive bullish candle formation on the daily chart to move past the significant 50EMA level of 73.70 to improve the bias and further rise is expected with the indicators supporting the buy recommendation. The RSI is on the rise and is well placed to indicate strength and can carry on with the positive move further ahead in the coming sessions. With the chart technically looking good, we suggest to buy the stock for an upside target of 79 keeping the stop loss of 72.

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.