The Indian stock market continued its rally on March 24. The benchmark indices recorded a strong gain. The broader market also participated in the rally. The BSE Sensex index rose by 1,372 points or 1.89%, closing at 74,068. The Nifty 50 index rose by 440 points or 1.78%, closing at 22,912.

Broader markets also participated in the uptrend, with the BSE Midcap and Smallcap indices gaining over 2% each.

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Market outlook: Key levels to watch

According to a Mint report, Sumeet Bagadia, Executive Director at Choice Broking said that the Nifty 50 is currently showing early signs of recovery but remains below key momentum levels.

“The 22,750–22,800 zone is expected to act as crucial support, while immediate resistance is placed around 23,050–23,100,” Bagadia said, adding that the RSI is recovering from oversold territory but still below the midpoint.

For Bank Nifty, he noted that the index remains volatile, with support seen near 53,700–53,800 and resistance around 54,300–54,400. He advised traders to remain cautious and wait for a decisive breakout before taking fresh positions.

Sumeet Bagadia’s stock picks for March 25

Bagadia has recommended five stocks based on technical indicators and price action:

Schneider Electric Infrastructure

Buy at: ₹895

Target: ₹955

Stop loss: ₹861

The stock has shown strong recovery and is currently consolidating after a sharp rally, indicating sustained bullish structure.

CCL Products (India)

Buy at: ₹1,080

Target: ₹1,178

Stop loss: ₹1,029

Trading near all-time highs, the stock has confirmed a rounding bottom breakout with strong upward momentum.

Sterlite Technologies

Buy at: ₹180

Target: ₹195

Stop loss: ₹170

After a steep rally, the stock is stabilising near key support levels, offering a potential entry opportunity.

Granules India

Buy at: ₹606

Target: ₹650

Stop loss: ₹574

The stock has broken out of a consolidation phase with strong volumes, signalling a fresh uptrend.

Alivus Life Sciences

Buy at: ₹967

Target: ₹1,038

Stop loss: ₹929

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A breakout above major moving averages is a sign of a trend reversal and a strengthening of bullish sentiment.

Bagadia has suggested that traders should be cautious as geopolitical risks are still prevalent and to trade within defined support and resistance levels. He emphasised waiting for clear breakout signals before initiating directional trades.

{News Ei Samay does not provide investment advice anywhere. Investment and trading in the share market or any field involve risk. Proper study and expert advice are recommended beforehand. This news is published for educational and awareness purposes.}