Stock market today: Trade setup for Nifty 50, US Fed meeting to global markets; eight stocks to buy or sell on Thursday

Stock Market Today: The benchmark Nifty-50 Index added to its gains for third day in  a row ending at 22,907.60, u 0.32%. The Bank Nifty at 49,702.60 also was up 0.79% while Realty, Oil & Gas and Healthcare were other key gainers. The IT and FMCG nevertheless lagged. The broader indices too ended with gains adding to positive sentiment.

Trade Setup for Thursday

The index has been closing above the 21EMA for the last two days, confirming the bullish trend. In the short term, the trend is likely to remain positive, with a possible consolidation in the next two three days. Support is placed at 22,600. On the higher end, resistance is placed at 23100-23150, said Rupak De, Senior Technical Analyst at LKP Securities.

While immediate support is placed at 48,800-49,000 levels, Nifty Bank Index in the last 9 weeks has been consolidating in the broad range of 47,700-50,600, said Bajaj Broking.

US Fed meeting outcome

The US Federal Reserve announced its second monetary policy decision for 2025 after a two-day Federal Open Market Committee (FOMC) meeting and kept its benchmark interest rate steady at 4.25-4.50 per cent. The US central bank kept the key rates steady for the second straight meeting after its January policy meeting review— the first policy decision under Donald Trump’s presidency.

Global Markets Today

Following the recent surge, markets will react to the US Fed meeting outcome in early Thursday trades, with attention then shifting to the weekly expiry. While some consolidation is possible, the overall sentiment is likely to remain positive, favoring a “buy on dips” approach. We are witnessing rotational participation across key sectors, with banking, financials, metals, and energy taking the lead, said Ajit Mishra – SVP, Research, Religare Broking Ltd. Traders should position themselves accordingly and remain selective in the broader market, added Mishra.

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 three stocks picks.

These include Camlin Fine Sciences Ltd , Lloyds Metals and Energy Ltd, Sonata Software Ltd,  Indian Railway Catering and Tourism Corporation Ltd (IRCTC) , Bharat Petroleum Corporation Ltd (BPCL) , Kalyan Jewellers India Ltd, GlaxoSmithKline Pharmaceuticals Ltd, 

Sumeet Bagadia’s stock pick

1. Camlin Fine Sciences Ltd– Bagadia recommends buying Camlin Fine Sciences at ₹178 keeping Stoploss at ₹172 for a target price of ₹190

Camlin Fine Sciences ( CAMLINFINE) is currently trading at 178, maintaining a strong upward trajectory. The stock has consistently formed higher highs and higher lows, reflecting sustained bullish momentum. It recently reached a 52-week high of 179.40, with a key resistance level around 182. A breakout above this level could further accelerate buying interest.

2. Lloyds Metals and Energy Ltd-  Bagadia recommends buying Lloyds Metals and Energy at ₹1242 keeping Stoploss at Rs1195 for a target price of ₹1333

LLOYDSME showcases a strong bullish momentum, evident from a substantial upward movement and a significant closing around ₹1242. The stock has been experiencing robust buying interest, and a consolidation breakout with strong volume, signaling bullish momentum and potential upside continuation.

Ganesh Dongre’s stocks to buy today

3. Sonata Software Ltd– Dongre recommends buying Sonata Software buying at ₹355 keeping Stoploss at ₹340 for a target price of ₹375.

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 ₹375. At present, the stock is maintaining a crucial support level at Rs.340. Given the current market price of Rs.355, 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.375.

4. Indian Railway Catering and Tourism Corporation Ltd (IRCTC) – Dongre recommends buying IRCTC at ₹717 keeping Stoploss at ₹704 for a target price of ₹745

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.745. At present, the stock is maintaining a crucial support level at Rs.630. Given the current market price of Rs.717, 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.745

5. Bharat Petroleum Corporation Ltd (BPCL) – Dongre recommends buying Bharat Petroleum Corporation Ltd (BPCL) at ₹266 keeping Stoploss at ₹258 for a target price of ₹275.

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. 275. At present, the stock is maintaining a crucial support level at Rs.258. Given the current market price of Rs.266, 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. 275.

Shiju Koothupalakkal’s intraday stocks for today

6. Kalyan Jewellers India Ltd– recommends buying Kalyan Jewellers at ₹453 for a target of ₹480 keeping  Stoploss at ₹442

The stock after correcting significantly has bottomed out near the 400 zone and has indicated decent pullback, currently with a positive bullish candle formation accompanied by huge volume participation has improved the bias anticipating for further rise. The RSI has recovered from the oversold zone and is on the rise indicating a positive trend reversal to signal a buy and has much upside potential from current rate to carry on with the positive move further ahead. With the chart technically looking good, we suggest to buy the stock for an upside target of 480 keeping the stop loss of 442 level.

7. GlaxoSmithKline Pharmaceuticals Ltd– recommends buying GlaxoSmithKline Pharmaceuticals at ₹2838 for a target price of ₹2970 keeping  Stoploss at ₹2780

The stock maintaining the strong bias has indicated a breakout above the resistance zone of 2800 level and has improved the bias further with huge volume participation witnessed in the last hours of the trading session to anticipate for further rise in the coming sessions. The RSI has indicated strength and has further upside scope to carry on with the positive move. With the strong trend maintained, technically, on the daily chart, we suggest to buy the stock for target of 2970 keeping the stop loss of 2780 level.

8. Greaves Cotton Ltd– recommends buying Greaves Cotton at ₹224.50 for a Target price of ₹244 keeping Stoploss  at ₹217

The stock after witnessing a decent erosion has indicated a revival from 204 level and with a pullback seen has improved the bias to anticipate for further rise in the coming sessions. The RSI has indicated a bounce back from the oversold zone and with a positive trend reversal confirmed has signalled a buy with further upside potential visible. With the chart technically looking good, we suggest to buy the stock for an upside target of 244 keeping the stop loss of 217.

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.