Stocks to buy or sell: Sagar Doshi of Nuvama suggests DLF, SRF, Adani Ports today - 12 March 2025

Stock Market today: The key domestic indices, Nifty 50 and Sensex, began the day positively on Wednesday, despite mounting pressure on global markets, including those in the US and Europe.

The Nifty 50 index commenced at 22,536.35, an increase of 38.45 points or 0.17%, while the Sensex started at 74,270.81, rising by 168.49 points or 0.23%.

On Tuesday, US President Donald Trump reassured market participants that he perceives no imminent threat of a recession in the US. His comments aided in the recovery of US markets from previous losses, alleviating some investor fears. Nevertheless, many traders are still wary about the overall direction of the market.

Analysts pointed out that portfolio managers are proceeding with caution amid the uncertainty. They are maintaining higher cash reserves, scaling back investments in overpriced stocks, and diversifying their holdings to mitigate risks associated with Trump's trade policies. Unlike his previous term, Trump appears more tolerant of market volatility, increasing the perception that his administration may be less inclined to intervene in support of stock prices.

“Investors should keep in mind two important features of the near-term trend in stock markets. Globally, the markets are weak and jittery on concerns arising from the tariff policy uncertainties. This is likely to linger and may even get worse as reciprocal tariffs kick in from early April. In this scenario there is no scope for a sustained recovery in global markets. In fact further downtrend is likely,” said Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services.

Nifty 50 Outlook by Sagar Doshi, Senior Vice President- Research, Nuvama Professional Clients Group

Nifty 50

Nifty 50 recouped from its gap down opening on Tuesday which was purely due to a weaker global handover. The index has been holding above its recent resistance of 22,450 for the past couple of days as the market awaits a short covering trigger. Charts have opened up for a journey towards 22,800+ for this week awaited by a positive sentiment trigger to lift the index higher. On the downside 22,250 is likely to act as fresh demand generator for the index.

Bank Nifty

Bank Nifty on the flip side has ended at a fresh 9 month low on charts due to pressure on smaller private banking space. Any price action allowing the index to sustain below 47,800 could further trigger a bearish cup and handle breakdown on charts of Bank Nifty. Negation for the same stands at 48,100 while a short covering move does not trigger unless a close above 49,000 is not seen on the index.

Stocks To Buy on Wednesday- Sagar Doshi

On stocks to buy on Wednesday, Sagar Doshi of Nuvama recommended three stocks - DLF Ltd, SRF Ltd, and Adani Ports and Special Economic Zone Ltd.

DLF (BUY): LCP: ₹674.10; SL: ₹646; TGT: ₹718

DLF has completed a 35% correction from its highs, a similar percentage of cooldown was seen in 2021-2022 correction in this REALTY bull market started since Covid lows. A reversal has been confirmed on weekly charts with initial spike of 6-8% on the upside.

SRF (BUY): LCP: ₹2,921.25; SL: ₹2,846; TGT: ₹3,100

SRF has registered its highest ever weekly closing as chemicals have started showing signs of ending its multiyear consolidation. Stock is continuing its momentum given the ongoing flag breakout on charts and can extend this by another 5-7% from CMP.

Adani Ports (BUY): LCP: ₹1,135.75; SL: ₹1,098; TGT: ₹1,200

A 3 month trendline breakout has been seen on charts of Adani Ports, this is in sync with a reversal from a 50% retracement zone on charts near 1000 where the chart has formed a triple bottom. A retest of 200 DMA upside is now open towards 1200+.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.