Stock market today: Trade setup for Nifty 50 to global markets; Seven stocks to buy or sell on Monday— March 24, 2025

Stock Market Today: After regular consolidation or decline for long time, the benchmark Nifty-50 index registered one of the best weekly gain in 4 years (since February 21 ) rising 4.3% week on week for the week ending 21 March 2025. Bank Nifty ended with more than 5% gains at 50,593.55 while Realty. Healthcare, Capital good and Power were among top outperformers though IT & FMCG underperformed. The Mid and small caps also gained 7-86% week on week.

Trade Setup for Monday

The zone of 23130-23100 is likely to provide a cushion in case of any immediate decline. On the upside, it is likely to test the level of 23600, followed by 23800 in the short-term, as per SBI securities

Traders should consider 50,000 and 49,700 as key support zones for Bank Nifty, while the 200-day SMA at 51,000 and 51,300 could serve as crucial resistance areas, said Amol Athawale, VP – Technical Research, Kotak Securities.

Global Markets Today

With no major domestic economic events scheduled, focus will remain on the expiry of March derivatives contracts and FII activity. On the global front, the US markets will be closely watched, with tariff-related updates and GDP growth data expected to influence investor sentiment. Although US markets saw a temporary respite after a sharp decline, mixed signals suggest potential volatility in the coming sessions, said Ajit Mishra – SVP, Research, Religare Broking Ltd.

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, while Shiju Koothupalakkal, Senior Manager — Technical Research, at Prabhudas Lilladher has given two stocks picks.

These include NTPC Ltd. GAIL India Ltd, Indian Energy Exchange Ltd (IEX), Jindal Saw Ltd, ITC Ltd, Lemon Tree Hotels Ltd and RITES Ltd

Sumeet Bagadia's stock pick

1. NTPC Ltd- Bagadia recommends buying NTPC at Rs 351.30 keeping Stoploss at ₹339 for a target price of ₹376

NTPC is currently trading at ₹351.30, maintaining a strong bullish trend marked by the formation of higher highs and higher lows. The stock recently rebounded from a key support level and formed a bullish candlestick pattern on the daily chart, signaling renewed upward momentum.

2. GAIL India Ltd - Bagadia recommends buying GAIL at ₹175.05 keeping stop loss at ₹168 for a target price of ₹188

GAIL is currently trading near ₹175.05, having formed a strong bullish candle that signals a reversal in momentum. The stock recently broke out of a falling parallel channel pattern on the daily chart, supported by a significant increase in trading volumes, reflecting strong buying interest. If GAIL sustains above the ₹177 level, it is well-positioned to move higher, with a potential target of ₹188

Ganesh Dongre's stocks to buy today

3. Indian Energy Exchange Ltd (IEX) - Dongre recommends buying IEX at ₹172 keeping Stoploss at ₹164 for a target price of ₹180.

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 ₹180. At present, the stock is maintaining a crucial support level at Rs.164 level. Given the current market price of Rs.172, 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.180.

4. Jindal Saw Ltd- Dongre recommends buying Jindal Saw at ₹275 keeping Stoploss at ₹265 for a target price of ₹290

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.265. At present, the stock is maintaining a crucial support level at Rs.265. Given the current market price of Rs.275, 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.290

5.ITC Ltd- Dongre recommends buying ITC at ₹405 SL 395 TGT 418.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.418 . At present, the stock is maintaining a crucial support level at Rs.395. Given the current market price of Rs.405, 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. 418.

Shiju Koothupalakkal's intraday stocks for today

6. Lemon Tree Hotels Ltd - Koothupalakkal recommends buying Lemon Tree Hotels  at ₹139 for a target price of ₹150 keeping Stoploss at ₹135

The stock has gathered momentum to move past the important 50EMA level and also the 200 period MA at 133 and 135 levels respectively to gain strength and has further upside potential to carry on with the positive move in the coming sessions. The RSI is on the rise indicating strength and has much upside scope. With the chart technically looking good, we suggest to buy the stock for an upside target of 150 keeping the stop loss of 135 level.

7. Rites Ltd- Koothupalakkal recommends buying RITES at around ₹239.50 for a target price of ₹255 keeping Stoploss at ₹233

The stock has recovered significantly from the strong support zone of 200 levels and currently has moved past the important 50EMA level at 232 zone with strength indicated anticipating for further upward move. The RSI has indicated a decent pullback from the oversold zone and is currently well placed to carry on with the uptrend. With the chart technically looking good, we suggest to buy the stock for an upside target of 255 keeping the stop loss of 233.

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.