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The Indian market experienced a rebound after a three-week losing streak, achieving its most significant weekly gain in 2025 despite ongoing volatility in global markets stemming from uncertainty surrounding US trade policy. While the overall market indices showed positive movement, this upward trend was not consistently reflected in individual stock performance. This divergence has prompted investors to reassess their risk appetite and consider a shift towards safer assets, such as gold, amidst a cautious outlook on riskier investments. On the earnings front, companies are facing downgrades in their financial estimates due to a confluence of factors, including weakened demand, margin pressures, and a generally cautious near-term outlook. The recovery observed during the curtailed week may prove to be a labored and challenging process. Moving to a technical analysis perspective, the market trends appear to be more conducive to trading strategies rather than long-term investment approaches. Hourly charts reveal a gap area, coupled with the 61.8% Fibonacci support trendline, which has provided support to prices since the beginning of the previous week, enabling them to move above the cloud region on Friday. The emerging trend strongly suggests the possibility of a rally, as the markets continue to navigate their way after an extended period of gains in the preceding two months. Momentum indicators on the hourly charts indicate that prices have stabilized, and there appears to be a reduction in selling pressure. The gradual and hesitant rise from support levels on Friday suggests that the upward trend may continue. For those considering short positions, it is recommended to observe whether the Nifty index falls below 22500, which could trigger a further decline towards 22200 and 22000, according to Open Interest data, where the next levels of support are expected to emerge. In the event of a 30-minute range breakout on Monday, traders may consider trading on either side, as the trends remain tentative and may encounter resistance. Given the prevailing ranging market conditions, it is crucial to be swift in taking profits, as the trend may lack sufficient momentum to sustain a strong move in either direction. Option data suggests that the Put Call Ratio (PCR) has moved to 0.96, indicating that the trends are at a critical stage, with Put writing at the 22500 levels continuing to provide support and counter sell-offs during upward movements. At this juncture, it is essential to pay close attention to various news triggers, as the combination of global tariff threats, cautious investor sentiment, and domestic economic challenges has contributed to sharp market declines and rupee volatility. Raja Venkatraman, from NeoTrader, recommends three stocks for trading opportunities.
Raja Venkatraman recommends the following three stocks for trading purposes. First, DBCORP: A buy above ₹ 231 is suggested, with a stop-loss at ₹ 224 and a target price range of ₹ 255-265. This newspaper stock has experienced significant volatility, but its Q3 results were found to be stable. The inability of bearish forces to push the stock lower in this uncertain market environment indicates a strong rounding pattern breakout, as buying momentum has been building. After a period of consolidation and absorbing volatility, the stock's prices are expected to extend their gains in the coming week. The steady upward bounce has pushed the Relative Strength Index (RSI) above 70, suggesting that the trends could persist beyond the value area resistance around ₹ 225. Second, TAJGVK: A buy above ₹ 490 is recommended, with a stop-loss at ₹ 473 and a target price range of ₹ 530-540. There has been consistent buying activity at lower levels, as momentum attempts to revive prices from lower levels. With the cloud region providing upward thrust, the counter has a higher probability of exhibiting a bullish bias. The steady upward trend observed in recent days, coupled with buying interest attracted by dips into the Ichimoku Bands during the last week, underscores a steady determination to move upwards. Thus, a buy recommendation is given. Third, GLAXO: A buy above ₹ 2760 is advised, with a stop-loss at ₹ 2725 and a target price range of ₹ 2985-3025. Pharmaceutical stocks are currently under pressure, and GLAXO has experienced a decline in recent weeks. However, there has been a strong rebound in the past month, suggesting that the bullish momentum may extend. The long body observed at the end of the last rise on Friday indicates that further upward movement is possible. The attempt to move higher following consolidation presents a strong case for bullishness. As the Relative Strength Index (RSI) is already showing a rebound from the 60 levels, traders are encouraged to consider a long position in this counter.
It is important to remember that Raja Venkatraman is the co-founder of NeoTrader and holds a Sebi-registered research analyst registration. However, it is crucial to recognize that the views and recommendations presented in this article are solely those of the individual analyst and do not reflect the views of Mint. Investors are strongly advised to consult with certified experts before making any investment decisions. The volatility of the market can present both opportunities and risks; therefore, it's crucial to thoroughly understand and evaluate the risks involved before investing in the stock market. A strategy must include diversification to minimize risk. By diversifying investments across various sectors and asset classes, investors can reduce the impact of any single investment's performance on their overall portfolio. The market is influenced by a multitude of factors, including economic indicators, geopolitical events, and company-specific news. Keeping abreast of these developments is critical for making well-informed investment decisions. Finally, it's essential to approach investing with a long-term perspective, rather than attempting to time the market or chase short-term gains. Consistency in saving and investing, coupled with a focus on long-term goals, can significantly improve the chances of achieving financial success. The information provided by the analyst should be viewed as a component of a broader investment strategy and not as the sole determinant for investment decisions. By combining expert advice with personal research and financial planning, investors can make choices that align with their objectives and risk tolerance, leading to a well-rounded and informed approach to wealth accumulation. Thorough due diligence combined with risk management is the key to informed investment decision making.
Source: Stocks to buy: Raja Venkatraman recommends three stocks for today — 10 March