Sensex Today | Stock Market LIVE Updates: Key Stocks to Watch on March 7
Stocks in focus today include Tamilnad Mercantile Bank, NMDC, Jindal Stainless, Sudarshan Pharma Industries, Brigade Enterprises, Rail Vikas Nigam, RITES, Laurus Labs, Bharat Electronics, InterGlobe Aviation, Firstsource Solutions, TCPL Packaging, Avanti Feeds, Campus Activewear, and Balaji Phosphates.
Market Overview:
According to Aditya Gaggar, Director of Progressive Shares, the recent rally in heavyweight stocks pushed the Nifty50 to 22,545, forming a bullish candle on the daily chart. This suggests that the positive momentum may continue, though strong resistance is expected at 22,620, with support at 22,320. Meanwhile, Bank Nifty is struggling to break 48,900, but support has shifted higher to 48,400.
Sectoral Trends:
- Energy & Metal Stocks: A breakout from their Falling Wedge and Consolidation patterns signals a trend reversal. Stocks like Coal India, Hindustan Zinc, JSL, MGL, MOIL, NMDC, NTPC, and Vedanta look promising. A buy-on-dips strategy is suggested.
- IT Sector: Likely to remain under pressure, following weakness in NASDAQ 100.
- Pharma Sector: Expected to see gradual gains, with Aurobindo Pharma and Cipla showing breakout potential.
