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Buy or sell stocks: The Indian equity market closed with solid gains on Monday, February 16, supported by buying across most sectors in line with upbeat global cues. The Sensex on the Bombay Stock Exchange surged 650 points, or 0.79%, to finish at 83,277.15, while the Nifty 50 on the National Stock Exchange of India ended at 25,682.75, up 212 points, or 0.83%.

Sumeet Bagadia, Executive Director at Choice Broking, believes that the Nifty index saw high intraday volatility along with a sustained bullish move, highlighting strong buying interest and improving investor sentiment.

“On the daily chart, the formation of a bullish engulfing pattern signals a possible upside reversal and strengthening bullish momentum, supporting the case for further gains. Technically, resistance is placed in the 25,800–25,850 zone, while strong support lies between 25,500–25,550. The RSI reading of 50.87 reflects neutral momentum, indicating a balanced market with no extreme conditions,” Bagadia said.

Bank Nifty started the session on a weak note but staged a sharp recovery, forming a bullish engulfing candlestick pattern that indicates a strong shift in sentiment and aggressive buying at lower levels.

On the Bank Nifty outlook, Bagadia said that on the daily timeframe, the index closed above last week’s high with a rise of nearly 762 points, highlighting strong bullish strength and renewed confidence in the broader banking space.

“From a technical perspective, immediate resistance is placed in the 61,150–61,250 band, while the 60,650–60,750 zone continues to act as a key support area for short-term stability. The daily RSI reading of 60.40 reflects strengthening momentum and a positive trend structure. As long as Bank Nifty sustains above 60,400 on a closing basis, a selective buy-on-dips approach remains appropriate, with a strict stop-loss at 60,150 to control risk,” he added.

Regarding stocks to buy today, Sumeet Bagadia recommended these five breakout stocks: Antelopus Selan Energy, Prime Focus Limited, Graphite India, CCL Products (India), and TD Power Systems.

1] Antelopus Selan Energy: Buy at ₹597, Target ₹640, Stop Loss ₹560.

Antelopus share price is showing a strong bullish recovery on the daily chart after a prolonged downtrend and base formation. Price is now giving a sharp breakout above the 600 level, which is very close to the current market price, indicating immediate strength and active buying interest near resistance. The stock is trading above all key EMAs (20, 50, 100 and 200), which are gradually aligning upward and signalling improving short-term as well as positional momentum.

2] Prime Focus Limited: Buy at ₹276, Target ₹295, Stop Loss ₹260.

Prime Focus Limited share price is maintaining a steady higher high–higher low structure on the daily timeframe, reflecting a sustained uptrend. Price is trading comfortably above the 20, 50 and 100 EMA, which are all sloping upward, confirming strong bullish momentum. The recent consolidation near highs indicates healthy accumulation rather than weakness. Volume expansion during the upmove further supports trend strength. The target around 295 is aligned with the 100% Fibonacci retracement extension, making it a logical resistance zone, while 260 acts as a key short-term support to maintain bullish continuation.

3] Graphite India: Buy at ₹672, Target ₹720, Stop Loss ₹640.

Graphite India share price has shown a strong trend continuation setup after a consolidation phase on the daily chart. Price has decisively moved above the 20 EMA and 50 EMA and is sustaining well above the 100 EMA, indicating a well-established bullish structure. The series of higher lows suggests consistent buying on dips. Recent bullish candles near resistance with stable volumes indicate strength rather than exhaustion. As long as the stock holds above the 640 support zone, the momentum structure remains intact and favors an upside move toward the target 720 level in the near term.

4] CCL Products (India): Buy at ₹1025, Target ₹1100, Stop Loss ₹990.

CCL share price is displaying a steady uptrend with a strong positional structure on the daily timeframe. The price is trading above all key moving averages 20/50/100/200 EMA, which are aligned in a bullish sequence, confirming trend strength. Recent price action shows consolidation near highs after a sharp rally, indicating accumulation rather than distribution. Volume behaviour remains stable, supporting the ongoing uptrend. Holding above the 990 support zone keeps the bullish structure valid and opens the path for a potential continuation toward the 1100 target zone.

5] TD Power Systems: Buy at ₹859, Target ₹920, Stop Loss ₹825.

TDPOWERSYS is witnessing a fresh momentum breakout after a prolonged consolidation and trend resumption on the daily chart. Price has reclaimed the 20 EMA and is sustaining above the 50 and 100 EMA, highlighting strengthening bullish momentum. The recent sharp upmove with increased volume signals strong buying interest. The current structure shows higher lows formation, indicating demand at lower levels. The target around 920 is derived from the 0.618 Fibonacci retracement extension, while 825 acts as a crucial support to keep the bullish setup intact.

Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.Vaamanaa covers business and stock market news. Started in 2020, she has been producing news on digital platforms for over 4.5 years now. She writes o...

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