The Indian stock market experienced a significant decline on Friday, with the Nifty 50 index crashing 420 points, or 1.86%, marking the steepest single-session drop since October 3, 2024. The index closed at 22,124, while the BSE Sensex plummeted over 1400 points to close at 73,198. Smaller stocks were also affected, with the BSE Small-cap index dropping over 2.30% and the Mid-cap index falling by 2.15%.
Nifty Healthcare Index is designed to reflect the behaviour and performance of the Healthcare companies. This index is used for a variety of purposes such as benchmarking fund portfolios, launching of index funds, ETFs and structured products.#NSEIndia #NSE #NSEIndices… pic.twitter.com/O2zVJwwdNe
— NSE India (@NSEIndia) February 28, 2025
Sumeet Bagadia, Executive Director at Choice Broking, identified three technically strong stocks and recommended investors consider them for the upcoming week. These stocks are Shriram Finance, IndiGo, and HDFC Bank. Shriram Finance recently rebounded from a key support zone, forming a bullish candlestick on the weekly timeframe and breaking out of a falling trendline.
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IndiGo has surged from the 200-day EMA support level, with its 20-day EMA crossing above the 50-day EMA, indicating a bullish trend continuation. HDFC Bank is displaying strong bullish momentum, having rebounded from recent declines and trading above its 20-day, 50-day, and 200-day EMAs.
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Indian stock market recovery recommendations
Hrishikesh Yedve, AVP Technical and Derivatives Research at Asit C.
My latest article on the current market conditions
Trying to understand the selloff and future economic and #StockMarket outlook while analyzing the domestic and global drivers. How long with extreme market movements last?https://t.co/Y6oCtC3fCX…— sandip sabharwal (@sandipsabharwal) March 2, 2025
Mehta Investment Intermediates analyzed the Nifty on technical charts, highlighting that the index breached the 22,500 support with a gap-down opening and formed a bearish Marubozu candle, indicating ongoing weakness. He advises traders to follow the sell-on-rise strategy as long as the Nifty remains below 22,500.
Virat Jagad, Technical Research Analyst at Bonanza, recommends selling Dabur India Future and Infosys Ltd. Dabur India has recently broken down from a rectangle pattern on the daily chart, signaling a bearish trend with a strong chance of further price decline. Infosys Ltd’s daily chart indicates a confirmed breakdown from a rectangle channel, signaling a strong bearish setup.
The market capitalization of BSE-listed companies saw a substantial wipeout amounting to Rs 9 lakh crore. Investors are strongly encouraged to consult with certified experts before making investment decisions, as market conditions can change rapidly, and individual circumstances may vary.
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