Stock Market Recommendations

According to Bajaj Broking Research, Piramal Pharma and PTC India are the top stock picks for next week. Here’s its view on Nifty, Bank Nifty and the top stock picks for the week starting March 17, 2025.

Index View: NIFTY

Nifty continues to experience high volatility, driven by fluctuating global cues. Concerns over trade tensions and fluctuating US policies are creating a challenging environment for traders and investors. Nifty has been consolidating in a range in the last 4-5 sessions after a sharp up move of 700 points in the preceding 4 sessions. Immediate support for the Nifty is positioned at 22,200-22,300 sustaining above this level is crucial for continuation of the pullback towards 22,700 & 23,000 levels in the upcoming week.

NIFTY BANK

Bank Nifty has formed a high wave candle which maintained lower high and lower low for the fifth week in a row.The index in the last 9 weeks has been consolidating in the broad range of 47,800-50,500. A close below the lower band of the range will lead to an acceleration of decline towards 47,000 levels in coming weeks. While holding above the same can lead to a pullback towards 49,000 levels.

Stock Recommendations:

Buy in the range of Rs 193-203

Target Return Time Period Rs 229 16% 12 Months

The stock post the recent correction is forming base around the long term 52 weeks EMA thus provides fresh entry opportunity with a favorable risk-reward set up.We expect the stock to head towards 229 levels in the coming months being the key retracement area and trendline resistance joining previous major highs.Weekly stochastic has recently generated a buy signal thus validates positive bias in the stock.

Buy in the range of Rs 150-157

Target Return Time Period Rs 178 16% 12 Months

The share price of PTC India has generated a breakout above last 3 months range breakout (154-130) signaling resumption of up move and offers fresh entry opportunity. We expect the stock to head towards 178 in the coming quarters being the confluence of the measuring implication of the range breakout and 50% retracement of the entire decline (231-128).The weekly MACD has generated a buy signal as it moved above its nine periods average thus validates positive bias

Disclaimer: The opinions, analyses and recommendations expressed herein are those of brokerage and do not reflect the views of The Times of India. Always consult with a qualified investment advisor or financial planner before making any investment decisions.