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Stock Market Today: The Benchmark Nifty50 Index, amid weak global cues, ended at 24,609.70 down 0.82% on Thursday. The Bank Nifty at 54,941.30 also lost 0.24% as most other indices led by IT, FMCG, and auto ended lower.  The broader indices also saw pressure but managed to close with only marginal losses.

Nifty found support at its 20-day EMA (Exponential Moving Average) and bounced back. Nifty's immediate support is now seen in the 24400-24500 band, with resistances are placed at 24840 and 24946., as per Devarsh Vakil - Head of Prime Research, HDFC Securities.

Key support for Bank Nifty is placed at 54,000-53,500 as per Bajaj Broking

Despite a brief recovery midweek, domestic markets resumed their downward trajectory, pressured by global uncertainty, sector-specific weakness, and stretched valuations. Traders may remain cautious ahead of key global cues and domestic macro data, as per Vikram Kasat, Head - Advisory, PL Capital. 

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 stock picks.

These include Dalmia Bharat Ltd m Astral Ltd , ICICI Prudential Life Insurance Company Ltd, Bank of Baroda, ICICI Bank Ltd , Escorts Kubota Ltd, Bharat Dynamics Ltd and Moil Ltd 

DALBHARAT is currently trading at2106.9, 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 2117.5, with a key resistance level around 2140. A breakout above this level could further accelerate buying interest. The Exponential Moving Averages (EMAs) for the 20, 50, 100, and 200-day periods are all trending upwards, reinforcing the bullish outlook. The price is trading above all major EMAs, indicating strong positive sentiment and continued strength in the stock.

2. Astral Ltd - Bagadia recommends buying ASTRAL at around Rs1442.40 keeping Stoploss at ₹1391 for a target price of ₹1543

ASTRAL is currently trading near ₹1,442, showcasing a sharp recovery from lower levels and indicating a strong reversal in momentum. The stock has broken its recent lower high structure, supported by a significant rise in trading volumes, which reflects robust buying interest. If ASTRAL manages to sustain above the ₹1,500 level, it is well-positioned for further upside, with a potential target of ₹1,543.

3. ICICI Prudential Life Insurance Company Ltd - Dongre recommends buying ICICI Prudential Life or ICICIPRULI at around ₹620 keeping Stoploss at around ₹605 for a target price of ₹645

In the latest short-term technical analysis, stock has shown a strong and consistent bullish trend, indicating the potential for an extended upward move. The stock is currently trading at ₹ 620 and holding above a key support level at ₹ 605. This support zone serves as a critical point for risk management. Given the bullish momentum, traders are advised to consider a buying opportunity with a stop-loss placed strategically at ₹ 605 to manage downside risk. The target for this trade is set at ₹ 645, suggesting a favorable risk-to-reward ratio and a continuation of the prevailing upward trend.

4.  Bank of Baroda - Dongre recommends buying  Bank of Baroda or BANKBARODA at around ₹240 keeping Stoploss at around ₹235 for a target price of ₹250

Stock has exhibited a strong notable continue bullish pattern, offering another promising opportunity for short-term traders. The stock is currently priced at ₹ 240 and maintaining a strong support at ₹ 235. The technical setup indicates the potential for a price retracement towards the ₹ 250 level. With the stock reversing from a support base and showing signs of renewed strength, entering at the current market price with a stop-loss at ₹ 235 offers a prudent approach to capturing the anticipated upside.

5. ICICI Bank Ltd- Dongre recommends buying ICICI Bank or ICICIBANK  at around ₹1442 keeping Stoploss at ₹1420 for a target price of ₹1470. 

Stock is currently trading at ₹ 1442 and appears to be in bullish zone for short term. A bullish reversal pattern has emerged on the daily chart, indicating a potential  upmove. The critical support level lies at ₹ 1420, which also acts as a key stop-loss point for this trade. With bullish cues signaling a possible retracement towards the ₹ 1470 target, this setup provides a favorable entry opportunity for traders looking to capitalize on a technical rebound.

6. Escorts Kubota Ltd - Koothupalakkal recommends buying Escorts Kubota or  ESCORTS   at around ₹3504 for a target price of ₹3670 keeping Stop loss at around ₹3440

The stock has been in consolidation for quite some time maintaining above the 200 period MA at ₹3490 zone and during the final hours of the intraday session, there has been indication of a decent spurt with volume participation to improve the bias and anticipating for further rise in the coming sessions. The RSI is currently well placed having much upside potential from current rate and can carry on with the positive move. With the chart technically looking good, we suggest to buy the stock for an upside target of ₹3670 keeping the stop loss of ₹3440 level.

7. Bharat Dynamics Ltd- Koothupalakkal recommends buying Bharat Dynamics or  BHARAT DYNAMICS   at around ₹1924 for a target price of ₹2040 keeping Stop loss at around ₹1880

The stock once again has indicated a higher bottom formation pattern on the daily chart taking support near ₹1750 zone and has witnessed a decent spurt recently to anticipate for further rise once again in the coming sessions. The RSI is maintained strong and can carry on with the positive move further ahead. With the chart technically looking good, we suggest buying the stock for an upside target of ₹2040 level keeping the stop loss of ₹1880 level.

8. Moil Ltd - Koothupalakkal recommends buying MOIL  at around ₹376.50 for a target price of ₹392 keeping Stop loss at ₹368

The stock has recently witnessed a significant pick up to move past the important 200 period MA at ₹352 zone to strengthen the trend and can expect for further rise in the coming sessions. The RSI is on the rise and has gathered strength to carry on with the positive move with much upside potential visible. With the chart technically well positioned and overall strength indicated, can expect for further gains and thereby, we suggest buying the stock for an upside target of ₹392 level keeping the stop loss of ₹368 level.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.

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