Stock market today: The Indian stock market is expected to open on a steady note following yesterday’s strong rebound, led by gains in financials, energy, pharma, and healthcare. Robust DII inflows continue to provide an underlying cushion, helping offset intermittent FII outflows. However, near-term sentiment remains cautious amid persistent weakness in the IT sector on AI-disruption concerns, along with selective profit booking and mixed global cues. Consequently, trading is likely to remain range-bound and choppy until fresh domestic or global triggers offer clearer direction.
Gold, silver rates today
Gold and silver prices continue their decline for the second straight session on Tuesday, February 17. Spot gold prices slipped below the $5,000 mark, falling 0.43% to $4,992 per ounce. Meanwhile, spot silver fell nearly 3% to $74.24 per ounce during the Asian trading hours on Tuesday.
Speaking on the outlook of gold and silver rates today, Anuj Badjate, Managing Director at Badjate Stock & Shares Pvt Ltd, said, “Both metals are trading within defined ranges, indicating consolidation rather than a trend reversal. Going ahead, the next directional move will depend on global liquidity conditions, US dollar movement, bond yields, and geopolitical cues. A breakout above resistance could trigger fresh momentum buying, while a breach of support may invite corrective pressure,”
FII-DII data
FIIs remained net sellers on Monday, selling Indian shares worth ₹972 crore. However, DIIs remained net buyers, buying shares worth ₹1,667 crore.
USD vs INR
The Indian rupee settled 8 paise lower at 90.74 against the US Dollar (USD) on Monday, weighed down by a strong US Dollar and foreign fund outflows.
Speaking on the outlook of the Indian National Rupee (INR) against the USD, Jateen Trivedi, VP Research — Commodity & Currency at LKP Securities, said, “The Indian Rupee traded largely flat near 90.62 as market participants remained cautious, while recovery in the secondary market after a weak opening helped stabilise the currency. The broader tone remains range-bound, with immediate resistance placed near 90.25 and support seen around 90.90. Unless there is a decisive break on either side, the Rupee is likely to continue trading within this consolidation band.”
Stock market today
On account of Energy, Reality, and PSU Banks indices rallying over 1.5%, the Indian stock market witnessed a strong rebound on Monday. The Nifty 50 index finished 211 points higher at 25,682, the BSE Sensex ended 650 points higher at 83,277, while the Bank Nifty index gained 762 points and closed at 60,949.
Speaking on the near-term outlook of the Nifty 50 and Sensex today, Shrikant Chouhan, Head Equity Research at Kotak Securities, said, “For day traders, 25,600/83,000 and 25,500/82,700 would act as key support zones. As long as the market is trading above these levels, the pullback formation is likely to continue. On the higher side, it could bounce back to 25,800–25,875/83,500-83,700. On the flip side, below 25,500/82700, the sentiment could change. If the market falls below this level, traders may prefer to exit their long positions.”
On the outlook of the Bank Nifty today, Rupak De, Senior Technical Analyst at LKP Securities, said, “The Bank Nifty remained strong during the day as it found support near the falling trendline on the daily chart. Besides, the index sustained above the 20-DEMA, closing comfortably above it. With a single bullish candle, the Bank Nifty has engulfed the bearishness of several previous weak candles. The daily RSI is in a bullish crossover and rising. In the short term, the trend may remain strong, with potential to rise towards 61,400. On the lower end, the previous resistance of 60,500 will now act as support.”
Stocks to buy today
Regarding stocks to buy today, stock market experts — Sumeet Bagadia, Executive Director at Choice Broking; Ganesh Dongre, Senior Manager of Technical Research at Anand Rathi; and Shiju Koothupalakkal, Senior Manager of Technical Research at Prabhudas Lilladher, recommended these eight intraday stocks for today: Bandhan Bank, Tata Steel, Canara Bank, BDL, Coal India, Siemens, TD Power Systems, and JSW Energy.
Sumeet Bagadia’s stock recommendations today
1] Bandhan Bank: Buy at ₹167.93, Target ₹180, Stop Loss ₹162.
Bandhan Bank’s share price is currently trading at ₹167.29 and is showing a strong bullish reversal from its key support zones. The stock has developed a short-term rounding bottom pattern and is maintaining a higher-high–higher-low structure, along with a breakout above the falling trendline, which signals a bullish trend reversal and strengthening upside momentum.
2] Tata Steel: Buy at ₹205.81, Target ₹220, Stop Loss ₹198.
Tata Steel’s share price is trading at ₹205.81 and has confirmed a clear Cup-and-Handle breakout on the weekly chart, indicating the start of a sustained bullish trend. On the daily chart, the stock has respected the major support zone near ₹200 and formed a bullish piercing pattern, reflecting strong buying interest and a decisive bullish reversal. This support area also offers a favourable buy-on-dips opportunity during minor retracements.
Ganesh Dongre’s buy or sell stocks
3] Canara Bank: Buy at Rs146, Target ₹154, Stop Loss ₹142.
Canara Bank’s share price has been exhibiting a strong, consistent bullish pattern, indicating sustained investor interest and positive price momentum. The stock is currently trading at ₹146 and has established a solid support base at ₹142. This level has historically acted as a cushion, and recent price action suggests a reversal from it, reinforcing bullish sentiment.
4] BDL: Buy at ₹1250, Target ₹1330, Stop Loss ₹1230.
BDL’s share price has exhibited a strong, notable, and continuous bullish pattern, offering another promising opportunity for short-term traders. The stock is currently priced at ₹1250 and maintaining a strong support at ₹1230. The technical setup suggests a potential price retracement towards the ₹1330 level.
5] Coal India: Buy at ₹422, Target ₹440, Stop Loss ₹410.
Coal India’s share has exhibited a strong, notable, and continuous bullish pattern, offering another promising opportunity for short-term traders. The stock is currently trading at ₹422 and maintaining strong support at ₹410. The technical setup suggests a potential price retracement towards the ₹440 level.
Shiju Koothupalakkal’s intraday stocks for today
6] Siemens: Buy at ₹3215, Target ₹3350, Stop Loss ₹3150.
The stock has witnessed a decent revival from the support zone of the important 50 EMA at the ₹3100 level and has moved past the significant 200-period MA at the 3150 zone, improving the bias and anticipating a further rise in the coming days. The RSI is well-positioned and has picked up to indicate a positive trend reversal, signalling a buy with upside potential visible.
7] TD Power Systems: Buy at ₹859, Target ₹915, Stop Loss ₹840.
The stock has shown a strong bias, with a series of higher lows visible on the daily chart, and is currently once again gaining strength, suggesting a further rise in the coming sessions. The RSI remains strong and has the potential to continue the positive move.
8] JSW Energy: Buy at ₹489, Target ₹520, Stop Loss ₹478.
The stock has recently indicated a decent revival after a short period of consolidation, has once again picked up, taken support near the 100-period MA at 470, improved the bias, and moved past the important 50EMA at 482 to gain strength.
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.
