Stock Market Today: Trade Setup for Nifty 50 to Global Markets; 8 Stocks to Buy or Sell on Friday— February 21, 2025
Market Overview
Stock Market Today : The stock market witnessed a session of consolidation on Thursday, with the Nifty 50 Index closing marginally lower by 0.09% at 22,913.15. The Bank Nifty faced a sharper decline of 0.49%, closing at 49,334.55, mainly dragged down by financial stocks. IT stocks also remained under pressure, while Metals, Oil & Gas, and Auto stocks showed resilience, pushing their respective sectoral indices higher. Meanwhile, broader market indices ended the day on a positive note, gaining nearly 0.5%.
Trade Setup for Friday
As we move into Friday’s session, the 22,950 level will be crucial for Nifty 50. A decisive breakout above this level could push the index towards 23,050-23,100. On the downside, if the index falls below 22,800, we may witness further weakness, with the potential for a retest of 22,725-22,650, according to Shrikant Chouhan, Head of Equity Research at Kotak Securities.
For Bank Nifty, key support is placed at 48,500-48,300, aligning with the bullish gap created on January 28, 2025, as per Bajaj Broking. A break below these levels could signal further downside.
Global Market Influence
The domestic market’s weakness was primarily attributed to growing concerns about the potential imposition of U.S. tariffs on Indian goods, leading to capital outflows. Additionally, fears of inflationary pressure and the latest U.S. Fed minutes, which suggested a possible delay in interest rate cuts, added to the cautious sentiment.
However, analysts remain optimistic about the broader market recovery, expecting improved consumption in Q1FY26, aided by moderating domestic inflation and the RBI’s recent rate cut, said Vinod Nair, Head of Research at Geojit Financial Services Ltd.
Stocks to Buy Today
Several technical experts have identified eight stocks to watch on Friday based on their price action, moving averages, and key support and resistance levels.
Sumeet Bagadia’s Stock Picks (Choice Broking)
| Stock | CMP (₹) | Target (₹) | Stop Loss (₹) | Technical View |
|---|---|---|---|---|
| Bharat Electronics Ltd (BEL) | 260.25 | 278 | 251 | BEL is attempting a bullish reversal from key support at 250. Resistance at 265-270 needs to be breached for further upside. |
| NTPC Ltd | 325.05 | 348 | 313 | NTPC has broken a long-term downtrend with strong volume support, indicating bullish momentum. |
Ganesh Dongre’s Stock Picks (Anand Rathi)
| Stock | CMP (₹) | Target (₹) | Stop Loss (₹) | Technical View |
|---|---|---|---|---|
| Home First Finance | 942 | 975 | 915 | A bullish reversal pattern suggests a potential retracement to ₹975. |
| SRF Ltd | 2800 | 2940 | 2700 | The stock is holding strong at 2700 support, offering a buying opportunity. |
| Gujarat State Petronet Ltd (GSPL) | 287 | 300 | 280 | Short-term bullish trend visible, likely to test ₹300 resistance. |
Shiju Koothupalakkal’s Stock Picks (Prabhudas Lilladher)
| Stock | CMP (₹) | Target (₹) | Stop Loss (₹) | Technical View |
|---|---|---|---|---|
| Cummins India Ltd | 2818 | 2950 | 2760 | The stock has formed a strong base at 2660 and is showing a bullish breakout. |
| Exide Industries Ltd | 374.95 | 400 | 365 | Higher bottom formation suggests a positive momentum shift. |
| Mahindra & Mahindra Ltd | 2839 | 2980 | 2770 | After a significant correction, the stock has entered a pullback phase. |
Conclusion
The market remains in a consolidation phase, with key levels to watch for both Nifty 50 and Bank Nifty. While global headwinds are adding pressure, sectoral strength in Metals, Oil & Gas, and Auto stocks indicates selective buying opportunities. Investors can keep an eye on the recommended stocks, considering the technical outlook and broader market sentiment.
Keywords: Stock Market Today, Nifty 50 Trade Setup, Best Stocks to Buy Today, Stock Market News, Nifty 50 Technical Levels, Indian Stock Market, NSE BSE, Sensex Analysis, Global Market Trends, Top Stocks for Friday
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Disclaimer: This blog post is for informational purposes only and should not be considered financial advice. Investors should conduct thorough research and consult with a qualified financial advisor before making any investment decisions.