Shares to buy or sell: Rajesh Palviya of Axis Securities suggests THESE 3 stocks to buy, hold, and accumulate next week

Stock market News: The domestic benchmark indices, Nifty 50 and Sensex, continued their decline this week due to concerns over a potential global trade war impacting the US economy, which heavily affected major information technology stocks.

The Nifty 50 decreased by 0.69% during the shortened holiday week, closing at 22,397.2, while the Sensex dropped 0.68% to finish at 73,828.91.

On Thursday, both indices experienced a decline of approximately 0.3% each, marking their third consecutive day of losses.

The Indian markets are closed today, Friday, March, on account of Holi.

Vinod Nair, the Head of Research at Geojit Financial Services, mentioned that the shortened trading week and the sell-off in the US short market are causing some disruptions in the global market. However, India is showing resilience and a healthy outperformance, despite a slight negative trend.

Concerns about a potential recession in the US are not affecting the Indian market, thanks to signs of recovery in fundamentals driven by easing inflation, anticipated rate cuts, and an economic rebound in FY26 fueled by government spending and rising consumer income.

all Street experienced a significant decline on Thursday, with the S&P 500 officially signaling a correction as positive inflation data was eclipsed by concerns that the intensifying trade war initiated by the United States against several major trading partners could reignite inflation and push the economy toward a recession. The Dow Jones Industrial Average dropped by 537.36 points, or 1.30%, closing at 40,813.57, while the S&P 500 decreased by 77.78 points, or 1.39%, to finish at 5,521.52, and the Nasdaq Composite fell by 345.44 points, or 1.96%, ending at 17,303.01.

Asian stock markets experienced a decline at the start of trading on Friday following a significant drop in US equities, impacted by US President Donald Trump’s trade conflict.

Futures for Japanese stocks fell, while Australian shares remained relatively stable. On Thursday, the S&P 500 fell by 1.4%, reaching a six-month low and extending its decline over three weeks to over 10% — a situation referred to as a correction among traders, according to reports.

Share Market Tips and Nifty 50 Outlook by Rajesh Palviya, SVP – Technical and Derivatives Research, Axis Securities

Nifty 50

The index is trending lower on the daily and weekly timeframes, forming a series of lower tops and bottoms, indicating a sustained downtrend. The index is also sustaining below its 20, 50, 100, and 200-day SMA, which reconfirms bearish sentiments. From current levels, the crucial support to watch for is around 22,200 levels, and any violation may cause further weakness towards 22,000-21,800 levels. An overhead supply zone is placed around 22,700-23,000 levels.

Sun Pharmaceutical Industries Ltd Cmp: ₹1,680

Sun Pharma share price has extended its bounceback rally for the second consecutive week, forming a “morning star,” a short-term trend reversal pattern on the weekly charts. The stock is also sustaining above its 20-day SMA, which reconfirms its short-term positive bias. Rising volumes on bounceback signifies buying and short-covering activity at lower levels. The daily strength indicator RSI is in favourable terrain, indicating rising strength.

Traders and investors should buy, hold, and accumulate this stock. Its expected upside is 1,750-1,800, and its downside support zone is 1,600.

Avanti Feeds Ltd Cmp: ₹837

Avanti Feeds share price is in a strong uptrend across all time frames, forming a series of higher tops and bottoms. In addition, the stock has confirmed a “rounding bottom” breakout at 800 levels on a closing basis, which reconfirms the continuation of the prior uptrend. The stock is well placed and sustaining above its 20, 50, 100, and 200-day SMA, and these SMAs are also inching up along with the price rise, which reconfirms the bullish trend. The daily, weekly, and monthly strength indicator RSI is in favourable terrain, indicating rising strength.

Investors should buy, hold, and accumulate this stock. Its expected upside is 885-950, and its downside support zone is 800-770.

Coromandel International Ltd Cmp: ₹1,794

With the current close, Coromandel International share price has decisively surpassed the past three weeks’ multiple resistance zone of 1,770 levels on a closing basis, indicating a positive bias. The stock has recaptured its 200-day SMA and rebounded sharply, which confirms positive bias. The daily strength indicator RSI is in favourable terrain, indicating rising strength.

Investors should buy, hold, and accumulate this stock. Its expected upside is 1,885-1,950, and its downside support zone is 1,700-1,680.

Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decision.