Buy or sell stocks: The Indian stock market ended Monday, February 23, with solid gains despite mixed global cues. The Sensex settled at 83,294.66, climbing 480 points, or 0.58%, while the Nifty 50 finished at 25,713, up 142 points, or 0.55%. However, performance in the broader market was uneven, with the BSE 150 MidCap Index declining 0.21% and the BSE 250 SmallCap Index advancing 0.51%.
Stock market today
Nifty Outlook
The began the session with a gap-up of 100 points, indicating strong bullish sentiment and positive opening cues. The rally continued, pushing the index to an intraday high of 25,771.45, before a mid-session correction dragged it down to a low of 25,609, forming a temporary pullback driven by profit booking.
According to Sumeet Bagadia, Executive Director at Choice Broking, this decline was followed by a strong rebound of 119 points, enabling the index to close at 25,713, ending the day with overall gains of 141 points, which reflects persistent buying interest and underlying market strength.
“From a technical perspective, immediate resistance is positioned in the 25,850–25,900 zone, while strong support is seen around 25,550–25,600. The daily RSI reading of 51.54 suggests a neutral-to-positive momentum structure, indicating room for further upside without overstretched conditions. As long as the index holds above 25,500 on a closing basis, a selective buy-on-dips approach remains valid, with a strict stop-loss maintained at 25,450 to control downside risk,” Bagadia said.
Bank Nifty Outlook
opened the session on a flat note and then extended its bullish momentum to form an intraday high of 61,517. This was followed by an intraday correction of nearly 480 points, suggesting profit booking and short-term exhaustion at higher levels.
On the technical outlook, Bagadia said, “From a technical perspective, immediate resistance is placed in the 61,500–61,600 zone, while the 60,900–61,000 range continues to act as a crucial support area for maintaining near-term stability. The daily RSI at 59.63 reflects strong positive momentum with a healthy bullish bias, without overbought conditions. As long as the index sustains above 59,700 on a closing basis, a selective buy-on-dips strategy may be considered, with a strict stop-loss at 59,500 to manage downside risk.”
Sumeet Bagadia’s stocks to buy
Regarding stocks to buy today, Sumeet Bagadia recommended these five breakout stocks: City Union Bank, Privi Speciality Chemicals, Krishna Institute of Medical Sciences, Fine Organic Industries, and Ingersoll-Rand (India).
1] City Union Bank: Buy at ₹291, Target ₹312, Stop Loss ₹281.
share price is trading around ₹291.05 and continues to form a higher high–higher low structure, indicating a sustained short-term uptrend. The stock has taken strong support near its 100-day EMA and is moving higher, reflecting buying interest at lower levels. RSI at 54.30 is holding above 50 and trending upward, signalling improving momentum. Traders may consider buy at CMP with SL ₹281 for TGT ₹312, maintaining risk management.
2] Privi Speciality Chemicals: Buy at ₹2994, Target ₹3200, Stop Loss ₹2890.
Privi Speciality Chemicals share price is trading around ₹2,994.80 and is showing renewed strength after bouncing back from a recent consolidation phase. The stock has taken firm support near its 100-day EMA and resumed its upward move, indicating accumulation at lower levels. RSI has reversed from the oversold zone, signalling improving momentum and positive bias. Short-term traders may consider buying at CMP with a stop loss of ₹2,890 and a target of ₹3,200, ensuring disciplined risk management.
3] Krishna Institute of Medical Sciences: Buy at ₹717, Target ₹770, Stop Loss ₹690.
Krishna Institute of Medical Sciences share price is trading around ₹717.45 and continues to exhibit strength with a consistent higher high–higher low formation, indicating a sustained uptrend. The stock recently consolidated in a sideways range, where accumulation was visible, and has since bounced back, signalling renewed buying interest. RSI stands at 67.80 and is trending higher, reflecting strong momentum. Traders may consider buying at CMP with a stop loss of ₹690 and a target of ₹770, maintaining disciplined risk management.
4] Fine Organic Industries: Buy at ₹4647, Target ₹4950, Stop Loss ₹4450.
Fine Organic Industries share price is showing a strong bullish reversal after a prolonged consolidation phase around its 200-day EMA, indicating base formation and accumulation at lower levels. On the daily chart, the stock has decisively reclaimed all key moving averages (20, 50, 100, and 200 EMA), which are now acting as dynamic support zones. The recent candle has closed near the day’s high with rising volume, reflecting strong buying interest and momentum expansion. Price acceptance above the 200 EMA strengthens the trend reversal bias. As long as the stock sustains above 4450, the structure remains bullish and favours a continuation move toward the 4950 resistance zone.
5] Ingersoll-Rand (India): Buy at ₹3988, Target ₹4270, Stop Loss ₹3820.
Ingersoll-Rand (India) is exhibiting a classic higher high–higher low structure on the daily timeframe, signalling a steady uptrend from recent swing lows. The stock has delivered a sharp recovery rally and is now trading firmly above all key EMAs, confirming trend strength across multiple timeframes. Notably, it has closed decisively above the previous four sessions’ trading range, indicating strong bullish follow-through and breakout intent. Volume expansion during the recent upmove supports the momentum and suggests accumulation. RSI is also trending higher, reinforcing positive momentum. Immediate support is placed near 3820, while sustained strength above current levels can drive the stock toward the 4270 resistance zone.
Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.