Trade Call: 3 Stock Picks By Chandan Taparia of Motilal Oswal On Wednesday, 27th March

Due to a decline in the domestic current account balance from October to December, favourable domestic macro-data, and one of the largest domestic fund net purchases of over Rs. 50 thousand crore in March, the S&P global rating agency raised its GDP growth forecast for FY25 to 6.8% from 6.40%. As a result, domestic bourses may open on a flat note while the Gift Nifty is trading flat to negative. U.S. stocks closed Tuesday's global market trade slightly down as the market boom cooled following contradictory economic news. US Futures, however, rose ahead of the US Fed announcement, which is probably going to be released today.

Nifty Outlook

Nifty immediate support at 21880 then 21750 zones while resistance at 22222 then 22350 zones. Now it has to continue to hold above 22000 zones for an up move towards 22222 then 22350 while on the flipside, support is placed at 21880 then 21750 zones, said Chandan Taparia, CMT, CFTe Derivatives & Technical Analyst at Motilal Oswal.

Bank Nifty Outlook Today

Bank Nifty support is at 46250 then 46000 zones while resistance at 47000 then 47250 zones. Now it has to continue to hold above 46500 zones to extend the move towards 47000 then 47250 zones while on the downside support is seen at 46250 and 46000 zones, stated Chandan Taparia.

Stocks To Buy Today

Chandan Taparia, CMT, CFTe Derivatives & Technical Analyst at Motilal Oswal has recommended 3 stocks to buy or sell on an intraday basis on Wednesday, 27th March.

DLF

Buy at CMP: 873, stop-loss: 855, target: 910, duration: 2-3 Days

DLF is in overall uptrend and gave a consolidation breakout on daily chart. It has also retested breakout on daily scale and inched higher. Buying is visible across Realty space which may support the ongoing up move. Momentum indicator Relative Strength Index (RSI) has given bullish cross over which my take the prices higher.

Cipla

Sanofi India and Cipla announced an exclusive partnership to boost access to Sanofi's Central Nervous System (CNS) medications across India. Cipla will leverage its extensive network to distribute Sanofi's CNS portfolio, including Frisium, a leading anti-epileptic drug. We remain positive on CIPLA on the back of a) respiratory/peptide asset build-up for the NA market, b) robust brand franchise in DF, and c) scope for inorganic growth given surplus cash of INR75b as of 3Qend, said Chandan Taparia.

ICICI Pru Life

The IRDAI has released new regulations related to surrender charges. The new regulations are significantly better than the exposure draft released in Dec'23. The surrender charge regulation was a key overhang for the sector as the impact of exposure draft was to the tune of 300-500bp on VNB margins of the non-par segment. With this concern now behind, we expect insurance stocks to outperform in the near term. We believe going forward, premium growth and expansion of VNB margin will be the key drivers for the company, stated Chandan Taparia.

Disclaimer

The recommendations made above are by market analysts and are not advised by either the author, nor Greynium Information Technologies. The author, nor the brokerage firm nor Greynium would be liable for any losses caused as a result of decisions based on this write-up. Goodreturns.in advises users to consult with certified experts before making any investment decision.