Intraday Stocks To Buy Today, March 25: Top Picks By Anand James of Geojit Investments On Wednesday

On Wednesday, March 25, the opening session saw the Nifty rise above 23,100 and the Sensex rise over 700 points. Earlier in the day, the GIFT Nifty was trading at 23,059, up about 130 points, suggesting a strong and positive start for the domestic indices while the global financial scene is seeing a cautious but noticeable return of optimism as signs of de-escalation emerge from the Middle East.

Nifty Outlook Today

'The presence of continuation patterns encourages us to extend upside objective to 23350-800. That said, a consolidation is initially favoured with 23000 capping upsides. While dips to 22880 would attract buying, slippage past the same will signal loss in momentum. We would however, retain upside hopes as long as above 22640," commented Anand James, Chief Market Strategist, Geojit Investments Limited.

Bank Nifty Outlook Today

"On the daily chart, the index has formed a strong bullish candle after a series of declines, suggesting a temporary pause in the ongoing downtrend. The rebound has emerged from near the lower Bollinger Band, and the index is now attempting to move back toward the middle band. The RSI has moved up toward 31, recovering from oversold levels, but still reflects limited strength in momentum," said Om Mehra, Technical Research Analyst, SAMCO Securities.

"On the hourly chart, the index is showing a gradual improvement from lower levels. The recovery remains intact as long as 52,000-51,800 is protected on a closing basis. However, the bounce is approaching an important resistance zone near 53,200-53,500. The current move reflects a short-term relief rally, while the broader trend remains in a corrective phase," he added.

Stocks To Buy Today

Geojit Investments Limited's Chief Market Strategist, Anand James, recommended buying two stocks today with a five-day holding period after the Nifty produced a doji candle following a series of falls, signifying a relief rebound from lower levels.

Fertilisers And Chemicals Travancore Ltd

• Target: 805 - 824
• Stoploss: 778
• Pinbar Doji

Saregama India

• Target: 347 - 360
• Stoploss: 330
• Pinbar Doji

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