Intraday Stocks To Buy Today, March 17: Top Picks By Anand James of Geojit Investments On Tuesday

The Sensex gained more than 300 points during the pre-opening trading session on Tuesday, March 17, while the Nifty surpassed 23,450. Benchmark indices had a robust recovery in the previous session, which helped the market end its current losing streak. The BSE Sensex shot up about 900 points to end at 75,500, while the Nifty 50 closed at 23,400, up more than 250 points. The India VIX, a volatility gauge, fell by over 3% to 21.02, suggesting that market players are perceiving less risk and that market volatility is abating.

Nifty Outlook Today

"On the daily chart, Nifty has witnessed a recovery after the recent sharp decline, though the broader trend remains under pressure. The RSI is placed near 29, indicating that the index continues to trade in an oversold zone, while the DMI setup shows the negative directional line remaining above the positive line, reflecting that the broader weakness has not yet faded. On the hourly chart, a bullish divergence is visible, suggesting the possibility of a short-term rebound," said Om Mehra, Technical Research Analyst, SAMCO Securities.

"However, sustaining above the 23,200 level will be important to maintain the recovery. Failure to hold this level may again invite selling pressure in the near term. The 23,700 level remains an important resistance, and a sustained move above this zone will be required for a stronger recovery. Until then, the current move appears to be a short-term relief rally rather than a trend reversal," Om Mehra added.

Bank Nifty Outlook Today

"On the daily chart, Nifty Bank briefly slipped below the 53,483 swing low recorded on 9 May 2025, indicating a continuation of the prevailing weakness. However, the index managed to recover during the session and formed a piercing candlestick pattern, suggesting a short-term pullback from deeply oversold levels. The RSI has slipped near the 28 level, indicating that the index is trading in an oversold zone," Om Mehra commented.

"Meanwhile, the DMI setup shows the negative direction, highlighting that the broader trend still remains under pressure. The 53,400-53,500 zone now emerges as an important cushion in the near term. As long as the index holds above this zone, some stabilisation or a short-term recovery may continue. On the upside, the 55,000-55,500 zone is likely to act as a resistance area," the analyst further added.

Stocks To Buy Today

Anand James, Chief Market Strategist at Geojit Investments Limited, recommended buying two stocks today with a five-day holding period amid the ongoing trend of the war.

Aeroflex Industries

• Target: 254 - 260
• Stoploss: 240
• Range breakout

Adani Power

• Entry range: 154-151
• Target: 158 - 165
• Stoploss: 147
• Range breakout

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