Vinay Rajani of HDFC Securities shares Nifty outlook, 2 stocks to buy today

Stocks to Buy Today, Feb 27: BHEL share price formed a bullish 'Engulfing' candlestick pattern on the daily chart

Nifty50 Today, Feb 27, 2025:

 

The Nifty 50 extended its losing streak to a sixth consecutive session on Tuesday, registering a marginal decline of 5.8 points (0.03 per cent) to close at 22,547. Following Monday's sharp drop, NSE cash market volumes saw a 4 per cent uptick. This ongoing decline signals a clear downtrend with critical support anticipated at 22,450, derived from 76.4 per cent retracement of the uptrend that occurred from 21,281 (the low in June 2024) to 26,277 (the all-time high made in September 2024). 

 

On the upside, the 22,700-22,800 band is likely to act as a formidable resistance level.

 

 

Stocks To Buy Today

 

Buy BHEL stock (Rs 194) | Share price target: Rs 213.50 | Stop-loss: Rs 182

The RSI indicator on the daily chart has formed a positive divergence. On February 19th, 2025, BHEL share price formed a bullish 'Engulfing' candlestick pattern on the daily chart. Besides, the capital goods and power sectors have shown signs of bullish reversal.

 

Buy Castrol stock (Rs 217) | Share price target: Rs 230 | Stop-loss: Rs 203

Primary trend of Castrol share price has been bullish as it has been holding its level above all important moving averages. Castrol share, recently, surpassed the previous swing high of Rs 215.50, which added strength in the uptrend. Indicators and oscillators have been showing an upward trend for the stock.

   

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Disclaimer: Vinay Rajani is CMT, senior technical and derivative analyst at HDFC securities. Views expressed are this own.