Stock market today: Trade setup for Nifty 50 to Q3 results today; 5 stocks to buy or sell today — 12 February 2025

Stock Market today:  Correction phase intensified on Tuesday as benchmark Nifty 50 Index and the S&P BSE Sensex ended 1.32% lower each at 23,071.80 and 76,293.60 respectively. The Bank Nifty ended 1.19% lower at 49,403.40 while all sectors led by Auto, Metals, Realty saw significant corrections. Broader markets saw steeper selling with mid and small caps ending 2-3% lower.

Trade Setup for Wednesday

The Nifty is now sliding down to form a new lower bottom below the swing low of January at 22786 levels. However, any upside bounce from here could find strong resistance around 23200 levels, said Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities

The Bank Nifty has broken the support zone of 49,650-49,700. Thus, 49,700 will act as an immediate hurdle for Bank nifty, with the next key support at 48,900, said Hrishikesh Yedve, AVP Technical and Derivatives Research at Asit C. Mehta Investment Interrmediates

Global Markets and Q3 Results Today

The ongoing uncertainty surrounding US trade policies and tariffs, coupled with domestic economic growth concerns and persistent selling by FIIs, is dampening market sentiment. The mid- and small-cap stocks experienced significant declines due to demand concerns and higher valuations. Although the RBI’s intervention provided some recovery for the rupee from yesterday’s record low, it remains under pressure and is likely to keep the market volatile in the near term, said Vinod Nair, Head of Research, Geojit Financial Services. Investors are anticipating the PM’s visit to the US for any potential relief in trade uncertainty, while the US inflation data will also be a key focus, added Nair.

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.

Sumeet Bagadia’s stock recommendations today

1. JK Cement Ltd-  Bagadia recommends buying JK Cement at ₹4823.05, keeping Stoploss at ₹4640 for a target price of ₹5150

JK Cement is currently positioned at 4823.05 levels, has shown robust upward momentum. The stock’s recent breakout was supported by significant trading volume, indicating strong investor interest. The chart reveals a steady climb, with the 20-day EMA trending upward and converging towards the 50-day and 100-day EMAs. This alignment of moving averages suggests a continuation of the bullish trend if supported by further buying pressure., affirming its inherent strength.

2.  NDR Auto Components Ltd– Bagadia recommends buying NDR Auto Components  at ₹773.85 with a stoploss at ₹745 for a target price of ₹830

NDR Auto Components showcases a strong bullish momentum, evident from a notable uptrend from the support levels around 735, in close proximity to its 100 Day Exponential Moving Average (EMA). substantial upward movement and a significant closing around ₹773.85. The stock has been experiencing robust buying interest, leading to consecutive gains that could potentially lead to further upward movement after the recent surge, offering an optimistic outlook for investors

Ganesh Dongre’s stocks to buy today

3. Oil India Ltd– Dongre recommends buying Oil India at ₹411 with a stoploss at ₹400 for a target price of ₹425.

In the recent short-term trend analysis of the stock, currently stock is into oversold zone. Looking towards the daily chart 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 ₹425. At present, the stock is maintaining a crucial support level at Rs.400. Given the current market price of Rs.411, 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.425.

4. Bharti Airtel ltd– Dongre recommends buying Bharti Airtel at ₹169, keeping Stoploss at ₹1675 for a target price of ₹1725

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.1725. At present, the stock is maintaining a crucial support level at Rs.1675. Given the current market price of Rs. 1696, 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.1725

5. Metropolis Healthcare Ltd– Dongre recommends buying Metropolis at ₹1783, with a stoploss at ₹1755 for a target price of ₹1825.

A notable bullish reversal pattern has emerged in the stock’s recent short-term trend analysis. This technical pattern suggests the possibility of a temporary retracement in the stock’s price, potentially reaching around Rs. 1825. The stock is currently maintaining a crucial support level at Rs.1755. Given the current market price of Rs.1783, 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. 1755.

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 taking any investment.