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Trends were surprised as the markets remained stuck while attempting to stage a higher level. As positive vibes continue to build amid sector rotation, one should consider the upward momentum.

Best stocks to buy today (all buy trades are rates of equity and sell rates are based on F&O)

Federal Bank Ltd: Buy above ₹266 | Stop ₹250 | Target ₹289 (multiday)

Aurobindo Pharma Ltd: Buy above ₹1,298 | Stop ₹1,245 | Target ₹1,410 (multiday)

Vardhman Textiles Ltd: Buy above ₹555 | Stop ₹525 | Target ₹610 (multiday)

On 17 March 2026, Indian equity markets closed on a positive note with midcap and smallcap indices advancing steadily. The Nifty Midcap Index rose by 1%, while the Smallcap Index added 0.65%, reflecting broad-based buying interest. Among individual stocks, Eternal, Tata Steel, M&M, HDFC Life, and Bharat Electronics emerged as the top gainers on the Nifty, whereas Wipro, Tata Consumer, Infosys, Cipla, and ITC were notable laggards.

Sectoral performance was largely upbeat, with all indices ending in the green except FMCG, which slipped 0.7%, and IT, which declined 1%. Capital goods, telecom, auto, infra, media, metal, realty, and private banks led the rally, posting gains in the range of 1-2%. The overall sentiment suggested resilience in domestic equities, supported by strength in cyclical and growth-oriented sectors, even as select defensive pockets, such as FMCG and IT, faced selling pressure.

Volatility continues to disturb market sentiment, despite the clarity achieved regarding the resistance; the trends remain challenged on both sides. While the Nifty is trying to sustain the higher levels, the constant selling pressure is keeping a lid on every rise. At the moment, the lows at 23,000 will remain an important point to consider. With the market holding the support zones to retain the bullish stance, we need to be careful as we move ahead into the week.

Yesterday, we highlighted the possibility of a revival as the gap support, combined with Fibonacci supports, would look to, and identified the levels around 22,800-23,000 as a good area to consider for a long position, and any move below 24,500 would be a sign of recovery. While trends remain buoyant, we should be looking at a potential revival. The dip into the support region mentioned on the charts found some good buying interest and could now generate some revival, as the RSI is seen holding the 30 level and hinting at an upward trajectory.

We are now observing that the Max Pain Point has shifted to 25,000, as the PCR remains below 1, indicating that selling pressure has stepped up once again. As trends are spending some time holding on to the bullish bias seen on Monday, we continue to see encouraging triggers, thus leading the trends through some challenging times. Time to stay alert as trends are becoming clearer.

While the trends in the indices remain unclear, there is plenty of action in the stocks. We should now refrain from entering short positions in the Nifty and await some confirmation as the Nifty attempts to hold above 23,500. One can maintain that, viewing any sustained move below that level as a clear sign that bullish conviction is gaining strength.

Why it’s recommended: Federal Bank Ltd is a leading Indian private-sector bank offering comprehensive retail, corporate, and NRI banking services. The sharp profit booking that began the month has led to a fresh buying emerging at lower levels. The banking sector is now witnessing fresh demand amid continued attention to companies that have corrected sharply. In the current year, the stock has seen a sharp upside, and the steady support offered by the KS line has ensured that the momentum is retained. We can consider that the trends are poised to move higher. Go long.

P/E: 16.88,

52-week high: ₹301.75,

Volume: 12.84M

Technical analysis: Support at ₹175 | Resistance at ₹225.

Risk factors: Intense competition leading to margin pressure, asset quality concerns in specific portfolios, and regulatory changes.

Buy: Above ₹266.

Stop loss: ₹250.

Target price: ₹289. (Two months)

Why it’s recommended: Aurobindo Pharma Ltd is a leading Indian multinational pharmaceutical company that manufactures and sells generic drugs, Active Pharmaceutical Ingredients (APIs), and formulations across therapeutic areas. After the sharp decline due to profit-taking, the stock is showing resolve to move higher after dipping into the strong support zone of the cloud region. Now, we need to plan, as the last few weeks have been a matter of survival, but the negative news flow is showing signs of taking a break. With PSU banking counters entering the buy mode once again, we can look for a rebound from the current lower levels. Go long now.

P/E: 35.09,

52-week high: ₹1,319.60

Volume: 635.15K.

Technical analysis: Support at ₹1,250 | Resistance at ₹1,480.

Risk factors: Regulatory hurdles, market competition, and legal challenges.

Buy: Above ₹1,298

Stop loss: ₹1,245

Target price: ₹1,410 (Two months)

Why it’s recommended: Vardhman Textiles Ltd, founded in 1965 and headquartered in Ludhiana, Punjab, is India's largest vertically integrated textile manufacturer producing yarn, fabric, sewing threads, and garments. Despite strong profit-taking across multiple counters, this counter attracts steady buying interest and continues to move higher. With mid-cap stocks showing some resilience, we can look for further upside as a strong thrust above consolidation was seen yesterday. With the overall manufacturing sector showing promise across India, one should consider buying for a multiday play.

P/E: 20.26

52-week high: ₹551.30

Volume: 2.24M

Technical analysis: Support at ₹520 | Resistance at ₹625.

Risk factors: Raw material price volatility, regulatory challenges, and economic cycles.

Buy: Above ₹555.

Stop loss: ₹525.

Target price: ₹610. (Two months)

Raja Venkatraman is co-founder, NeoTrader. His Sebi-registered research analyst registration no. is INH000016223.

Investments in securities are subject to market risks. Read all the related documents carefully before investing. Registration granted by Sebi and certification from NISM in no way guarantees performance of the intermediary or provide any assurance of returns to investors.

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 making any investment decisions.

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