Stocks to buy on 16 March: The domestic benchmark indices, Sensex and Nifty 50, faced selling pressure for the third consecutive day on Friday as rising crude oil prices heightened concerns over inflation and global economic stability amid the escalating conflict in West Asia.
Significant selling in global markets, ongoing foreign fund exits, and a persistent weakness in the rupee also negatively impacted investor sentiment.
On Friday, March 13, closed at 74,563.92, down 1,470.50 points, or 1.93%. Thefell by 488.05 points, or 2.06%, finishing at 23,151.10.
Throughout the week, the BSE benchmark Sensex declined by 4,354.98 points, or 5.51%, while the Nifty 50 decreased by 1,299.35 points, or 5.31%.
What Gift Nifty live chart signals?
The Gift Nifty Live Chart is showing a positive start for the Indian stock market today. By 7:26 AM, the Gift Nifty was trading around 23,338.5 level, a premium of nearly 140 points from the Nifty futures’ previous close of 23,199.30.
Decoding the impact of Gift Nifty live chart and other triggers on Dalal Street, Hariprasad K, SEBI-registered Research Analyst and Founder, Livelong Wealth, said, “Indian markets are likely to begin the week on a mildly positive note, with GIFT Nifty trading around 23,351, indicating a steady opening for domestic equities.”
Further, Ponmudi R, CEO of Enrich Money, added that investor sentiment remains cautious with a near-term bearish bias, with market direction closely linked to crude oil price trends, geopolitical developments, currency movements, and institutional investor flows.
Stocks to buy today
Regarding stocks to buy today — Raja Venkatraman is Co-founder of NeoTrader and stock research platform MarketSmith India, recommended buying these five shares: Ajanta Pharma, Power Grid Corporation of India, Timken India, Aurobindo Pharma, and NTPC.
Three stocks to trade, recommended by NeoTrader’s Raja Venkatraman
1] Ajanta Pharma: CMP ₹3,119.50, Buy above ₹3,125, Target ₹3,350 (Two Months), Stop Loss ₹2,990.
Why it’s recommended: Ltd, established in 1973 and headquartered in Mumbai, is a specialty pharmaceutical company focused on branded generics in India, emerging markets, and US generics. This sector is now witnessing fresh demand as there is continued attention to all companies associated with the Pharma sector. In the current year the stock has seen a sharp upside and the steady support offered by the KS line has ensured that the momentum is retained, we can consider that the trends are poised to move higher. Go long.
Key metrics: P/E 39.41, 52-week high: ₹3054, Volume: 297.69K.
Technical analysis: Support at ₹3,000, resistance at ₹3,400.
Risk factors: Regulatory compliance, intense market competition, and geopolitical issues being the most significant.
2] Power Grid Corporation: CMP ₹303.60, Buy above ₹305, Target ₹340 (Two Months), Stop Loss ₹280.
Why it’s recommended: . of India Ltd (POWERGRID) is a ‘Maharatna’ CPSU playing a key role in national grid management. They also offer telecommunications and consultancy services. After some support from the cloud region, prices are holding the bullish bias. As momentum has revived one can look at more upside in store in the next few days. Go long now.
Key metrics: P/E 18.94, 52-week high: ₹321.75, Volume: 15.28M.
Technical analysis: Support at ₹285, resistance at ₹350.
Risk factors: High capital expenditure, regulatory environment, and counterparty weaknesses.
3] Timken India: CMP ₹3,486.50, Buy above ₹3,490, Target ₹3,850 (Two Months), Stop Loss ₹3,370.
Why it’s recommended: Ltd (TIL) is a leading manufacturer of engineered bearings and industrial motion products, specialising in tapered roller bearings for automotive, rail, and industrial sectors. At the current juncture, the prices have broken important supports once again. Looking at the strengthening momentum and the strong thrust post consolidation, we can definitely look for force gaining strength towards the upside. With the overall banking and finance sectors showing weakness across the board, one should consider selling for a multiday play.
Key Metrics: P/E Ratio: 58.14, 52-week high: ₹3575, Volume: 60.40K.
Technical analysis: Support at ₹3,250, resistance at ₹3,900.
Risk factors: Susceptible to industrial slowdowns, geopolitical tensions and lagging revenue growth.
Two stock recommendations for today by MarketSmith India
4] Aurobindo Pharma: CMP ₹1,310, Buy at ₹1,300 to ₹1,325, Target ₹1,450 in two to three months, Stop Loss ₹1,250.
Why it’s recommended: Strong presence in the US generics market, diversified product portfolio, focus on specialty and injectables segment, growing biosimilars pipeline, vertical integration benefits, improving Ebitda margins, healthy ANDA approvals, and strong domestic formulations growth.
Key metrics: P/E: 21.29, 52-week high: ₹1,319.80, volume: ₹276.07 crore.
Technical analysis: Flat base breakout on the daily chart.
Risk factors: regulatory observations, pricing pressure in US generics, high dependence on US revenues, litigation risks in key markets, currency fluctuation impact, raw material/API cost volatility, delays in product approvals, and intense competition.
5] NTPC: CMP ₹390.90, Buy at ₹388 to ₹392, Target ₹440 in two to three months, Stop Loss ₹374.
Why it’s recommended: Strong capacity expansion pipeline across thermal, renewable, and green hydrogen projects, increasing renewable energy portfolio and diversification into new-age energy businesses.
Key metrics: P/E:16.35, 52-week high: ₹392.40, volume: ₹925.00 crore.
Technical analysis: Tight range breakout.
Risk factors: High capital expenditure requirements, regulatory tariff revisions risk, dependence on state DISCOM payments, rising interest rate impact, coal supply & logistics risks, execution delays in new projects, and renewable transition pressure.
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.