Buy or sell stocks: The Indian stock market continued its upward rally for the third straight session on Wednesday, February 18, with healthy buying across sectors, driven by positive global cues. The Sensex closed 283 points, or 0.34%, higher at 83,734.25, while the Nifty 50 ended at 25,819.35, gaining 94 points, or 0.37%.
Stock market today
Nifty Outlook
The Nifty index experienced sharp intraday volatility but maintained a bullish structure, signaling strong buying interest and improving market sentiment. It opened at 25,752.52 and immediately corrected nearly 115 points to form the day’s low at 25,645.15.
Sumeet Bagadia, Executive Director at Choice Broking, believes that the index staged a robust rebound of about 182 points, after brief consolidation, reaching a high of 25,828. This price behavior formed a bullish candlestick pattern, indicating strength at lower levels and continuation of the positive trend.
“Technically, resistance is seen in the 25,950–26,000 zone, while support is placed at 25,650–25,700. The alignment of key EMAs (20, 50, 100, and 200 DEMA) reflects a strong bullish medium- and long-term structure. The RSI at 53.91 shows neutral momentum, suggesting balanced conditions. In derivatives, put writing at 25,700 and call writing at 26,000 imply a range-bound outlook. Holding above 25,500 supports a buy-on-decline strategy, with a strict stop-loss at 25,400,” Bagadia added.
Bank Nifty Outlook
Bank Nifty began the session on a flat note at 61,255 and gradually developed a strong and steady bullish momentum, gaining nearly 376 points during the day before closing at 61,550.80, suggesting sustained buying interest and a strengthening positive sentiment in the banking space.
On the Bank Nifty outlook, Bagadia said, “From a technical perspective, immediate resistance is placed in the 61,250–61,350 band, while the 61,750–61,850 zone remains a crucial support area for short-term stability and structure. The daily RSI reading of 64.86 reflects strengthening momentum and a healthy bullish trend setup, indicating improving market strength without overbought conditions. As long as Bank Nifty sustains above 61,250 on a closing basis, a selective buy-on-dips strategy remains valid. Traders are advised to maintain a strict stop-loss at 61,000 to manage downside risk and protect capital in case of unexpected volatility.”
Sumeet Bagadia’s stocks to buy
Regarding stocks to buy today, Sumeet Bagadia recommended these five breakout stocks: Senores Pharmaceuticals, ELGI Equipments, Lumax AutoTechnologies, Acutaas Chemicals, and Azad Engineering.
1] Senores Pharmaceuticals: Buy at ₹822, Target ₹875, Stop Loss ₹788.
Senors Pharma share price is showing a steady uptrend with price respecting rising moving averages and consistently holding above the 100 EMA on the daily chart. The recent price action reflects strong demand on dips, with shallow pullbacks and quick recoveries indicating bullish strength. The stock has recently pushed higher with bullish candles and stable volume, suggesting continuation rather than exhaustion. Structure remains constructive as long as it sustains above the 788 zone. The next key upside level is the recent swing high around 877, which coincides with its all-time high target area.
2] ELGI Equipments: Buy at ₹537, Target ₹575, Stop Loss ₹515.
ELGI Equipments share price has staged a strong recovery after forming a base near lower levels, with price now breaking above key short-term resistance and moving averages. The stock is trading above the 20 and 50 EMA, indicating improving momentum and a shift in short-term trend. The recent rally is supported by strong bullish candles and increased volume participation, suggesting accumulation at lower levels. Higher lows formation adds to the positive structure. As long as price sustains above the 515 support zone, the upside move can extend toward the 575 zone, which marks the next visible resistance on the chart.
3] Lumax AutoTechnologies: Buy at ₹1691, Target ₹1815, Stop Loss ₹1620.
Lumax AutoTechnologies share price continues to trade in a well-established uptrend, forming a series of higher highs and higher lows on the daily timeframe. Price is comfortably positioned above the 20, 50, 100 and 200 EMA, indicating strong trend strength and institutional accumulation. Recent consolidation followed by a breakout candle signals continuation of bullish momentum. Pullbacks are being bought near the short-term EMAs, showing demand at lower levels. As long as 1620 holds as a structural support, the stock is poised to move toward 1815, which is near its recent all-time high zone.
4] Acutaas Chemicals: Buy at ₹2143, Target ₹2232, Stop Loss ₹2075.
Acutaas Chemicals share price is showing a strong breakout continuation on the daily chart after a prolonged consolidation range, with price making fresh all-time highs and sustaining above all key moving averages. The 20 and 50 EMA are trending upward and acting as dynamic support, reflecting strong bullish control. Price action indicates consistent higher highs and higher lows, supported by steady buying interest on minor pullbacks. Notably, the stock is currently trading at all-time highs, highlighting strong momentum and strength. As long as it holds above 2075, the trend remains bullish, with 2232 as the next projected upside level derived from the 0.786 Fibonacci extension level.
5] Azad Engineering: Buy at ₹1717, Target ₹1900, Stop Loss ₹1645.
Azad Engineering share price has already confirmed a decisive breakout above the falling trendline on the daily chart, signalling a shift from consolidation to bullish expansion. The stock has reclaimed the 20 and 50 EMA with strong bullish candles, indicating renewed momentum and buyer dominance. Price structure now shows higher lows forming after the recent base, suggesting accumulation at lower levels. The breakout move is supported by strong price acceptance above resistance. As long as the stock sustains above 1645, the bullish structure remains intact, with 1900 as the next upside target near the prior swing high all-time high zone.
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.
