Markets
Stocks to buy on 19 February: Ankush Bajaj recommends three stocks for today
Summary
- Stocks to buy today: Ankush Bajaj has three stock recommendations for 19 February
Stock market today: A recap
On Tuesday, 18 February, the Indian stock market experienced a bearish trend, with early gains failing to hold as selling pressure intensified despite a late recovery. The market closed in negative territory, with the Nifty 50 index slipping 14.20 points to 22,945 (-0.06%) and the Bank Nifty index declining 171.60 points to 49,087.45 (-0.35%).
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Sector-wise, major sell-offs were seen in FMCG (-0.88%), Auto (-0.61%), and Media (-0.60%), reflecting a broad-based downturn. However, select sectors managed to end in the green, including IT (+0.95%), Oil & Gas (+0.51%), and Energy (+0.36%), signaling some resilience.
Among Nifty 50 constituents, NTPC (+2.93%), Tech Mahindra (+2.41%), and Wipro (+2.24%) emerged as the top gainers, while IndusInd Bank (-2.30%), Trent (-1.94%), and UltraTech Cement (-1.58%) were the biggest laggards of the day.
Stock market outlook
On the daily chart, the Nifty 50 has once again found support at its January-end levels. Additionally, a potential RSI bullish divergence is forming, though confirmation is still awaited.
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On the hourly chart, Nifty is hovering near the upper trend line, suggesting an imminent breakout or breakdown in the coming days. A drop below the 22,700 level could trigger a further decline toward the 22,100–22,000 range.
Three stocks to buy on 19 February, recommended by Ankush Bajaj
SBI Cards & Payment Services Ltd: Buy at ₹865 | Target ₹905-925 | Stop loss ₹842
On the hourly chart, the stock has given a strong breakout. If the price holds above the ₹840 level, we may witness a strong uptrend in the coming days.
Bajaj Finance Ltd: Buy at ₹8,432 | Target ₹8,560-8,600 | Stop loss ₹8,360
On the hourly chart, the stock is poised for a breakout. If it sustains above the 8,480 level, it will confirm a triangle breakout, with a potential target of 9,000+.
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Larsen & Toubro Ltd: Buy at ₹3,220 | Target ₹3,290-3,310 | Stop loss ₹ 3,180
On the hourly chart, the stock is breaking out of a falling wedge pattern, accompanied by an RSI bullish divergence. Taking a long trade with a low-risk approach could be a good opportunity.
Ankush Bajaj is a Sebi-registered research analyst. His registration number is INH000010441.
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 guarantee 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.
Targets are subject to change based on market conditions. Investors should follow stop-loss and risk-management strategies.
