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Buy or sell stocks on 25 March: Following strong global market sentiment on news of de-escalation in the US-Iran war, the Indian stock market bounced back strongly on Tuesday after a sharp sell-offthe previous session. The Nifty 50 index skyrocketed 445 points or near 2% and closed at 22,958. The BSE Sensex shot up 1,372 points or 1.89% and ended at 74,068. The Bank Nifty index surged 1,305 or 2.54% and finished at 52,743.

Sectoral participation was broadly positive, reflecting a strong recovery across the board. Most major sectors ended in the green, with banking, auto and financials leading the rebound. The recovery was also evident in broader markets, where the mid- and small-cap indices gained over 2.5% each.

Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher, believes the Dalal Street undertone has improved, but the Nifty 50 index is facing a hurdle at 23,050. Breaking above this resistance on a closing basis would mean a fresh uptrend in the Indian stock market.

Speaking on the outlook of the Nifty 50 today, Vaishali Parekh said the key index opened on a strong note with a gap up near the 22900 zone and, amid some volatility, made a low of 22624 for the session & witnessed a bounce back to end on an optimistic note near the 22900 zone, with further gains anticipated in the coming days.

“The Nifty 50 index, if it crosses the 23,050 level, shall further strengthen the trend, expecting a fresh upward move with conviction, having targets of 23,400 and 23,800 levels in the coming days. The level of the 22,500 zone shall be the important support from the current level, which needs to be sustained,” she added.

On the outlook of the Bank Nifty today, Parekh said the index is maintaining the important support zone near the 51,000 zone, which has indicated a significant pullback to end above the 52,500 zone, with the banking & financial stocks indicating prominent positive cues signaling a buy from the oversold zone after a long wait to boost the index, anticipating further gains in the coming sessions.

“The Bank Nifty would need a decisive move past the 53,000 zone to overall improve the bias and thereafter anticipate a fresh upward move in the coming days. Support for the day is seen at 22,500, while resistance is at 23,500. The Bank Nifty would have the daily range of 51,500-54,000 levels,” Parekh added.

Regarding stocks to buy today, Vaishali Parekh recommended three buy-or-sell stocks for intraday trading: Ambuja Cements, Shipping Corporation of India, and Persistent Systems.

1] Ambuja Cements: Buy at ₹413, Target ₹430, Stop Loss ₹408;

2] Shipping Corporation of India: Buy at ₹226, Target ₹238, Stop Loss ₹218; and

3] Persistent Systems: Buy at ₹4910, Target ₹5150, Stop Loss ₹4850.

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.Asit Manohar has nearly two decades of experience in the mainstream media. In this period, he has served esteemed media organisations like NDTV Profit, The Economic Times, and Zee Business. He has been working at LiveMint Digital since April 2021. During these two decades of journey in mainstream media, Asit has mainly covered external affairs, markets and personal finance. However, his earliest beats include railways, SME, MSME, and politics (Congress beat). Some of his features on political, economic, and foreign policy are documented in the parliamentary records.

While pursuing his MA (Mass Communication, Session 2004-06), Asit began his media career as a stringer at All India Radio in Varanasi. At AIR Varanasi, Asit worked with the Gyanvani, Yuvvani and Vividh Bharti teams. After working for nearly one year at AIR Varanasi, he shifted to print journalism and started working as a stringer for the HT Media Ltd, Varanasi. At HT Media Ltd in Varanasi, he covered the BHU beat.

Asit has also worked with some brokerage houses. He has worked with Religare Broking and India Infoline, where he assisted the research team in developing and executing trade strategies for intraday cash, F&O, and commodities.

Asit is a Gold Medalist in MA (Mass Communication) from BHU, Varanasi. He did his BSc. (Hons) in Mathematics from Magadh University, Bodh Gaya. Asit was a National Talent Scholarship holder during his senior secondary studies (1988-91).

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