Trends stayed weak as higher levels were regularly sold. Since the markets are not behaving as expected, conditions are likely to remain challenging ahead.
Three stocks to trade as recommended by Raja Venkatraman of NeoTrader today:
Best stocks to buy today (all buy trades are rates of equity and sell rates are based on F&O)
INDIGO: Buy above ₹4155, stop ₹4020 target ₹4400 (Multiday)
GRANULES: Buy above ₹615, stop ₹590 target ₹670 (Multiday)
LUPIN: Buy above ₹2340, stop ₹2250 target ₹2525 (Multiday)
Stock market recap
On 24 March 2026, Indian equity benchmarks Sensex and Nifty continued their rebound for a second straight session, supported by easing crude oil prices and positive cues from Asian markets amid optimism of de-escalation in West Asia. By 2:45 pm, the Sensex surged 1,383.16 points, or 1.87%, to 75,451.61, while the Nifty gained 446.05 points, or 1.95%, to 23,358.45.
This followed Tuesday’s sharp advance, when the Sensex climbed 1,372.06 points to 74,068.45 and the Nifty rose 399.75 points to 22,912.40. Despite back-to-back gains, both indices remain down roughly 7.6% for March, pressured by earlier crude spikes and energy supply concerns that triggered foreign fund outflows and weighed on sentiment.
The recent rebound underscores the market’s sensitivity to global commodity trends and geopolitical developments, offering temporary relief after weeks of volatility.
Trading outlook
The market appears to be forming a potential bottoming pattern, though key resistance levels remain crucial. As noted yesterday, the Nifty’s immediate value-area resistance around 23,500 has acted as a brake, consistent with the upper end of the downward channel. A decisive close above this zone is essential for the rally to sustain.
Intraday charts show a gradual rise with higher lows above recent range levels, suggesting selling pressure has been absorbed. However, upward momentum may remain hesitant without fresh positive triggers, and profit booking could emerge ahead of the expiry. A sustained move above 25,200 (Nifty Spot) would reinforce bullish bias, while the market continues to navigate gap levels and resistance zones.
We continue to maintain long positions in the Nifty so long as 23,000 holds, viewing any sustained move below that level as a clear sign that bullish conviction is waning. The resistances have now moved from 23,650 to 23,800, while open interest shows that the road ahead is more open.
If the index breaks down from its current 30-minute range on Friday, we can pivot to two-way trades, but until then the trend remains in a tentative standoff. The readings from the Option Data suggests that PCR has now moved above 1, highlighting that the trends are showing intention to move higher stage with some steady Put writing at 23200 levels continues to prove to be absorbing the bearish bias thus helping to maintain the recovery.
Three stocks to trade, recommended by NeoTrader’s Raja Venkatraman:
AFFLE (current market price ₹1393.70)
- Why it’s recommended: Affle (India) Ltd is a global technology company founded in 2005 that operates a proprietary consumer intelligence platform to deliver AI-driven mobile advertising, enhancing ROI for marketers through precise user identification and engagement. A strong divergence on the cards is building a strong case for revival after the fall seen over the last few days. A strong long body candle with volumes augur well for the prices ahead. Strong breakout beyond TS and KS on Daily charts is fueling a new move. On the charts we can see that there are clear signs of divergence that appear and is now enforcing some upward drive. In the current year the stock has seen a steady upside despite the market sentiment 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.
- Key metrics:
- P/E: 153.35,
- 52-week high: ₹2186.80,
- Volume: 621.20K
- Technical analysis: Support at ₹1300, resistance at ₹1600.
- Risk factors: Data privacy regulations, technology obsolescence and seasonality.
- Buy : above ₹1395.
- Stop loss: ₹1340.
- Target price: ₹1510. (2 Months)
GPIL (current market price ₹277.30)
- Why it’s recommended: Godawari Power & Ispat Ltd (GPIL) manufactures sponge iron, pellets, steel billets, wire rods, HB wires, and ferro alloys, with extensive captive iron ore mining and power generation facilities. The stock after a long phase of consolidation has gradually moved out of the cloud region to affirm some bullish scenario. With support from volumes seen emerging helping it discover some strong trends from support levels. As momentum is holding up once again consider going long.
- Key metrics:
- P/E: 23.20,
- 52-week high: ₹290,
- Volume: 5.69M.
- Technical analysis: Support at ₹260, resistance at ₹335.
- Risk factors: Industry cyclicality, raw material price volatility, and heavy capital expenditure plans.
- Buy : above ₹280
- Stop loss: ₹265
- Target price: ₹310 (2 Months)
DALBHARAT (current market price ₹1884)
- Why it’s recommended: Dalmia Bharat Ltd is a leading Indian cement manufacturer, by installed capacity specializing in manufacturing and selling various cement types. With Cement sector witnessing a wave of selling pressure , the supply mounted on multiple counters this suppressing any buying interest to steadily push prices lower. The recent revival is seen generating a bullish harami to generate some upward momentum. As trends are seen forming a range shift in RSI on the Daily producing a thrust to generate some upward momentum. With the RSI charging higher we can look at a potential rise in store.
- Key metrics:
- P/E Ratio: 246.01
- 52-week high: ₹2495.95
- Volume:234.44K
- Technical analysis: Support at ₹1700, resistance at ₹2100.
- Risk factors: Stringent US FDA regulatory compliance issues at manufacturing sites, significant price erosion in the competitive U.S. generics market, and foreign exchange volatility.
- Buy : above ₹1890.
- Stop loss: ₹1790.
- Target price: ₹2055. (2 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.