Chandan Taparia has said Nifty has given an inside bar breakout in the previous session, indicating a strong recovery. If Nifty holds above 22,700, it may bounce towards 22,850 and then 23,000 levels.
From a technical perspective, the 22,200-22,000 zone emerges as a crucial support threshold, and any decisive breach below this range could weaken the near-term market structure further.
Calling Molbio a 'high-conviction pick', Jefferies has set a target price of ₹1,600 on the counter, signalling an upside of 27 per cent from its last closing price of ₹1255.60 apiece.
Stocks to buy: JSW Steel's outlook remains constructive, supported by capacity ramp-ups, resilient domestic steel demand and a rising share of value-added products.
Stocks to buy today: On the weekly chart, PGIL has given a breakout from a Pole & Flag pattern, supported by higher trading volumes, indicating strong buying interest.
The technical outlook remains positive for Paytm, Azad Engineering, and Kotak Mahindra Bank, with all three stocks showing bullish chart structures and potential for further upside.
Stock ideas for today: The index could now move towards the next support zone of 23,300-23,100, while any recovery is likely to face resistance around 23,600-23,800.
Till Nifty holds below 23,700, weakness could extend towards 23,500, then 23,400 levels, while on the upside, hurdles can be seen at 23,800, then 23,900 zones.
