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The Indian market's recent performance presents a mixed bag of signals. While the week ending March 7th saw the largest weekly gain in 2025, breaking a three-week losing streak, this overall positive movement was not uniformly reflected across individual stocks. The article highlights a crucial divergence between broad index performance and the behavior of specific equities, suggesting a more nuanced and potentially precarious underlying market condition. This discrepancy raises questions about the breadth and sustainability of the rally, prompting investors to consider a more cautious approach. Specifically, the article mentions that investors are becoming cautious due to market volitility, downgrades in earnings and uncertainty surrounding the US trade policy. The volatility in the global markets also influences the sentiments of investors. The article also suggests that the investors are considering to shift to safer assets like gold. The mention of weaker demand environment and margin pressure on the earnings front further validates the risk of market downturn. These factors combine to paint a picture of a market recovery that is possibly labored and fragile, requiring a more selective and discerning investment strategy. This leads us to the recommendation for three stocks as trading instruments that would benefit the readers.
The analysis then transitions to a more granular examination of market trends, focusing on trading opportunities rather than long-term investment strategies. The author emphasizes the importance of hourly charts, identifying a gap area combined with the 61.8% Fibonacci support trendline as a key factor in the recent price movements. This technical analysis suggests that the market is currently in a phase of price discovery, attempting to establish a clear direction after a period of extended gains. The momentum indicators on the hourly charts indicate a potential withdrawal of selling pressure, which could signal a further upward movement. However, the article also cautions that the rise is gradual and hesitant, suggesting a lack of strong conviction among buyers. The article suggests shorting Nifty below 22500 for a drop to 22200 and 22000. The data from Option Chain suggests a Put writing at 22500 levels which highlights that this level continues to defend the lower levels. The author therefore advocates for quick profit-taking, recognizing that the current trend may not have enough momentum to sustain a strong move in either direction. In this phase we need to pay attention to multiple news triggers, the combination of global tariff threats, cautious investor sentiment, and domestic economic challenges that contributed to the sharp market decline and volatility in the rupee.
The core of the article revolves around three specific stock recommendations, each accompanied by entry points, stop-loss levels, and target prices. The first stock, DBCORP, a newspaper stock, is recommended based on its resilience in the face of market uncertainty and a strong rounding pattern breakout. The analysis points to stable Q3 results and the inability of bears to push the price lower as positive indicators. The Relative Strength Index (RSI) exceeding 70 further supports the bullish outlook. The second stock, TAJGVK, is recommended due to steady buying at lower levels and the potential for a bullish bias driven by the Ichimoku Cloud. The analysis highlights the increasing buying interest during dips into the Ichimoku Bands, suggesting a strong underlying demand. Finally, GLAXO, a pharmaceutical stock, is recommended based on a strong rebound after a period of decline. The long body candlestick pattern observed at the end of the recent rise indicates the possibility of further upward movement. The RSI rebounding from 60 levels further reinforces the bullish sentiment. Each of these stock recommendations is framed within the context of the broader market analysis, emphasizing the importance of technical indicators and price action in identifying potential trading opportunities. The recommendation suggests that these stock is well placed to generate income for the traders who want to enter the market now.
The article concludes with a disclaimer, emphasizing that the views and recommendations presented are those of the individual analyst (Raja Venkatraman) and not necessarily those of Mint. The disclaimer also advises investors to consult with certified experts before making any investment decisions. This final point underscores the importance of conducting thorough research and seeking professional advice before acting on any investment recommendations. Furthermore, the author, Raja Venkatraman, is identified as the co-founder of NeoTrader and his SEBI registration number is also provided. This adds a level of transparency and accountability to the recommendations, allowing readers to assess the credibility of the analyst. Overall, the article provides a snapshot of the current market conditions, highlighting potential trading opportunities while emphasizing the need for caution and due diligence. It combines technical analysis, specific stock recommendations, and a clear disclaimer, providing readers with a comprehensive overview of the current investment landscape.
Source: Stocks to buy: Raja Venkatraman recommends three stocks for today — 10 March