Buy or sell stocks: The Indian stock market ended nearly 1% lower on Friday, February 27, pressured by persistent geopolitical tensions and a steep rise in crude oil prices. The plunged 961 points, or 1.17%, to finish at 81,287.19, while the Nifty 50 declined 318 points, or 1.25%, to settle at 25,178.65.
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Nifty Outlook
On Friday, the Indian benchmark index Nifty 50 ended the session on a negative note, registering a sharp loss of 317 points, or 1.25%, in a single day. The index opened with a mild gap-down of nearly 20 points and subsequently declined steadily toward the 25,300 level. After this fall, it entered a consolidation phase, but in the final half-hour of trade, selling pressure intensified further, pushing the index to an intraday low of 25,141.30. It eventually settled at 25,178, reflecting strong intraday bearish sentiment and late-session profit booking pressure.
According to Sumeet Bagadia, Executive Director at Choice Broking, on the daily timeframe, Nifty has formed its fourth consecutive red candle and has closed below the 200-day EMA, which reflects a weakening medium-term trend and a shift in overall market structure toward bearishness.
“ From a technical perspective, immediate resistance is seen in the 25,300–25,350 zone, while a strong support base is positioned around 25,000–25,050. In the derivatives segment, notable put writing was observed at the 25,000 strike, along with aggressive call writing at the 25,400 strike, indicating a well-defined trading range. Traders are advised to remain cautious near key support levels and wait for a decisive breakout above resistance zones before initiating fresh directional positions,” Bagadia said.
Bank Nifty Outlook
Bank Nifty opened the session on a negative note and moved lower, forming an intraday high of 61,086, on Friday last week. The decline extended further with a sharp correction, dragging the index to an intraday low of 60,438.95, indicating strong selling pressure and aggressive profit booking. However, the finally closed at 60,529, registering an overall fall of 658 points, reflecting sustained bearish sentiment and broad-based weakness across banking stocks.
“From a technical perspective, immediate resistance is placed in the 60,800–60,900 zone, while the 60,200–60,300 range continues to act as a crucial support area for maintaining near-term stability. The daily RSI at 50.66 reflects neutral momentum with a mild bearish bias, indicating the absence of strong buying strength. Traders are advised to remain cautious near critical support levels and wait for a clear breakout above resistance before taking fresh directional bets,” Bagadia added.
Sumeet Bagadia’s stocks to buy
Amid ongoing US-Iran war, Sumeet Bagadia recommended these five breakout : Precision Wires India, TD Power Systems, Apollo Pipes, IDBI Bank, and Chennai Petroleum Corporation.
1] Precision Wires India: Buy at ₹312, Target ₹330, Stop Loss ₹297.
Precision Wires India share price is trading at fresh all-time highs, reflecting strong bullish momentum and sustained institutional participation. The stock continues to form a well-defined higher high–higher low structure on the daily chart, confirming trend strength. Price is firmly holding above the 20-day EMA, which is acting as dynamic support and guiding the ongoing uptrend. Momentum remains intact with no major distribution signs. The projected upside target of 330 aligns closely with the 0.786 Fibonacci extension, while the stop loss at 297 lies below short-term support, protecting against trend failure.
2] TD Power Systems: Buy at ₹903, Target ₹966, Stop Loss ₹863.
TD Power Systems share price is trading in a strong and well-established uptrend after decisively crossing its previous swing high near the 850 zone. The stock is now sustaining above this breakout area, which has turned into a key demand zone, highlighting buyer strength. Price action remains close to all-time high levels, supported by rising short-term moving averages. The bullish structure remains intact as long as 850 holds. The upside target of 966 corresponds to the 0.786 Fibonacci extension, while 863 acts as a logical stop loss below recent consolidation support.
3] Apollo Pipes: Buy at ₹358, Target ₹388, Stop Loss ₹344.
Apollo Pipes share price is showing a clear bullish shift after spending a prolonged period between its 100-day and 200-day EMA. The stock has now decisively broken and sustained above the 200-day EMA, signalling a medium-term trend reversal. Price structure has transitioned into a higher high–higher low formation, confirming improving momentum. The breakout is supported by expanding volumes, indicating strong participation. As long as the price holds above the breakout base, bullish continuation remains likely. The target of 388 reflects the next resistance zone, while 344 serves as a protective stop below recent swing support.
4] IDBI Bank: Buy at ₹116, Target ₹123, Stop Loss ₹112.
IDBI Bank share price is trading just below its 52-week high, indicating strong bullish intent and sustained accumulation. The stock continues to respect its rising short-term and medium-term moving averages, maintaining a healthy bullish structure. Recent volume expansion suggests growing buying interest and increases the probability of a decisive breakout above previous highs. Momentum indicators remain supportive, with no signs of exhaustion. A breakout above the 52-week high could trigger further upside toward the 123 target. The stop loss at 112 is placed below the recent consolidation base to manage downside risk effectively.
5] Chennai Petroleum Corporation: Buy at ₹962, Target ₹1030, Stop Loss ₹904.
Chennai Petroleum Corporation share price has delivered a clean breakout above its falling trendline, marking the end of a corrective phase and signalling trend resumption. The stock consolidated near the 950 resistance zone before breaking out with strong bullish candles, indicating renewed buying interest. Price is now trading above key moving averages, strengthening the bullish outlook. The structure suggests continuation toward higher resistance zones as long as the breakout sustains. The upside target of 1030 aligns with previous supply levels, while the stop loss near 904 coincides with the lower boundary of the broken trendline, acting as critical support.
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.