The Indian stock markets closed lower on February 21, 2025, with noticeable selling pressure across various sectors, particularly pharmaceuticals and automotive. The Nifty 50 index dipped 0.51 percent to finish at 22,795.90 points, down from 22,913.15 points at the previous close, indicating bearish sentiment among investors.
Similarly, the BSE Sensex experienced losses, closing at 75,311.06 points, which is 0.56 percent lower than the previous day's close of 75,735.96 points. Vaishali Parekh, Vice President of Technical Research at Prabhudas Lilladher, highlighted the Nifty's struggle to maintain levels above the significant support zone of 22,800. She advised a cautious approach, with expectations of potential fluctuations.
According to Parekh, the Nifty 50 Spot index now finds support at approximately 22,600 points with resistance identified at 23,000 points. She warned of possible declines if the index can’t hold above the 22,800 level, stating, "If it sustains below the 22,800 zone, then there can be a slide with 22,500 as the next important level to watch for." Parekh also provided insights on the Bank Nifty, predicting movement between 48,600 and 49,600 points. "A decisive breach below the important support of 48,500 level could trigger fresh selling pressure, with the next major support positioned near 47,800," she added.
Amid these turbulent conditions, Parekh advised investors to keep close tabs on several stocks. She recommended buying SBI Life Insurance Co. Ltd at ₹1,500 with a target of ₹1,550 and stop-loss set at ₹1,480; Kaynes Technology India Ltd at ₹4,384, aiming for ₹5,000 with the stop-loss at ₹4,200; and Kansai Nerolac Paints Ltd at ₹243 with expectations of moving up to ₹255, stop-loss at ₹233.
On February 24, stock market analysts are providing additional guidance amid the prevailing market climate. NeoTrader holds strong viewpoints on stocks by offering three selections for investors to watch. Raja Venkatraman suggested purchasing PGEL above ₹830, with targets set between ₹890-910 and stop-loss at ₹855. He noted, “The rise in prices supported by volume could now result in some revival,” indicating positive divergence from the RSI metrics.
Similarly, Venkatraman advised purchasing GABRIEL above ₹480, targeting ₹515-530 with stop-loss at ₹468. Here too, the price action indicates bullish behavior as it dips within moving average bands, showing signs of upward momentum. He voiced optimism about the financial recovery, stating the bullish indications seem promising.
Another stable recommendation from Venkatraman is J&K BANK, advocating for purchases at ₹101.50, with targets ranging from ₹107 to ₹110 and stop-loss established at ₹99.50, reflecting strong buying interest during recent market falls.
From MarketSmith India, stocks such as Manorama Industries Ltd. and Affle (India) were recommended with longer lead time goals and clear buying ranges, emphasizing careful planning amid the existing market challenges.
For investors eyeing significant returns, Ankush Bajaj also provided strategic advice for February 24, naming TATA STEEL as one to buy at ₹140.75 with projected targets between ₹150-155, stop-loss at ₹134. Bajaj mentioned the stock’s breakout from a rectangle pattern indicating potential bullish momentum. He encouraged follow-through buying to confirm upward trends.
Additional picks by Bajaj highlight stocks such as BALRAMPUR CHINI at ₹480 (targeting ₹525-540) and JSW STEEL at ₹982 (aiming for ₹1,050-1,080), providing clear reasons based on technical indicators and market trends.
The stock market has shown considerable fluctuation and risk, as reflected by the numerous recommendations and cautious strategies advised by experts within the field. Investors are urged to perform due diligence before making any transactions. These recommendations come with the disclaimer of market risks, stressing the importance of consulting certified experts for sound investment decisions.