The Indian stock market witnessed continued consolidation during the week ending March 13, 2025, with benchmark indices Nifty 50 and Sensex closing over half a percent lower at 22,397.2 and 73,828.91, respectively. The Bank Nifty also ended with similar losses at 48,060.40. While the healthcare sector held firm, auto, IT, and realty stocks underperformed. Midcaps and small caps also experienced a significant decline of 2-4%.
Trade Setup for Monday, March 17, 2025
According to market experts, the Nifty 50 index has a key breakout zone at 22,650, and a move above this level could push the market towards 22,800-22,900. Conversely, if the index falls below 22,300, selling pressure may increase, leading to a potential retest of the 22,100-22,000 levels, said Amol Athawale, VP-Technical Research, Kotak Securities.
For Bank Nifty, a double bottom support is placed at 47,700. As long as it remains above this level, a pullback formation is likely to continue.
Global Market Trends
Investors are keenly awaiting the US Federal Reserve’s monetary policy review scheduled for March 19. While recent inflation data points toward a favorable trend, uncertainty remains regarding a potential interest rate cut due to ongoing trade tensions. The Fed’s commentary will be crucial in setting market direction.
Back in India, market participants will closely track Foreign Institutional Investor (FII) activity. FII selling pressure has picked up again after a brief slowdown, and any improvement on this front could provide relief to the domestic market, said Ajit Mishra, SVP-Research, Religare Broking Ltd.
7 Stocks to Watch on March 17, 2025
Top market analysts have recommended seven stocks to watch for Monday’s trading session:
Sumeet Bagadia, Executive Director, Choice Broking
1. Avenue Supermarts Ltd (DMART)
- Buy at ₹3,797.10
- Target: ₹4,063
- Stoploss: ₹3,664
The stock is showing strong bullish momentum with a key support rebound.
2. Archean Chemical Industries Ltd
- Buy at ₹570
- Stoploss: ₹550
The stock is recovering from lower levels, indicating renewed bullish momentum.
Ganesh Dongre, Senior Manager, Technical Research, Anand Rathi
3. Divis Laboratories Ltd (DIVISLAB )
- Buy at ₹5,615
- Target: ₹5,750
- Stoploss: ₹5,550
A bullish reversal pattern indicates potential upside.
4. Sun Pharmaceutical Industries Ltd
- Buy at ₹1,685
- Target: ₹1,720
- Stoploss: ₹1,640
Strong support at ₹1,640 signals a potential retracement.
5. ITC Ltd
- Buy at ₹411
- Target: ₹420
- Stoploss: ₹405
Bullish reversal pattern suggests further gains.
Shiju Koothupalakkal, Senior Manager, Technical Research, Prabhudas Lilladher
6. Kalyan Jewellers India Ltd
- Buy at ₹430
- Target: ₹455
- Stoploss: ₹420
Positive RSI trend reversal indicates upside potential.
7. Mangalore Refinery and Petrochemicals Ltd (MRPL)
- Buy at ₹119.30
- Target: ₹127
- Stoploss: ₹116
Strong RSI recovery from the oversold zone.
Market Outlook
With crucial events lined up, including the US Fed policy decision and FII activity, the Indian markets are likely to see heightened volatility. Investors should remain cautious and focus on key support and resistance levels for Nifty 50 and Bank Nifty while keeping an eye on the recommended stock picks.
Disclaimer: The views and recommendations in this article are from individual analysts and brokerage firms. Investors are advised to conduct their own due diligence before making any investment decisions.
