Indian Stock Market Update

Market Performance

The Indian stock market suffered significant losses for the week ended March 13, driven by escalating tensions between the US and Iran, a surge in crude oil prices, persistent FII outflows, and the Indian rupee hitting record lows. The Sensex shed 4,355 points (5.5%), while the Nifty 50 lost 1,300 points (5.3%).

Nifty 50 Outlook

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According to Jigar S. Patel, Senior Manager of Equity Technical Research at Anand Rathi Share and Stock Brokers, the Nifty 50 is approaching the 22,900 gap zone, which was formed in April 2025. A decisive move below this level could open the doors for a further decline towards 22,800-21,800. However, a sustained move above 23,500 would be required for the index to regain short-term stability.

Stock Picks for the Short Term

Aurobindo Pharma

• Previous close: ₹1,296.50
• Buying zone: ₹1,300-₹1,280
• Target price: ₹1,390
• Stop loss: ₹1,240

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Patel recommends buying the stock in the ₹1,300-₹1,280 zone, with a stop loss placed at ₹1,240. The stock has the potential to move towards the ₹1,390 target in the near term.

Coal India

• Previous close: ₹467
• Buying zone: ₹465-₹455
• Target price: ₹505
• Stop loss: ₹430

Patel suggests buying the stock in the ₹465-₹455 zone, keeping a stop loss at ₹430. The stock has the potential to move towards the ₹505 level in the near term.

Cello World

• Previous close: ₹415
• Buying zone: ₹420-₹405
• Target price: ₹500
• Stop loss: ₹380

Patel recommends buying the stock in the ₹420-₹405 zone, with a stop loss placed at ₹380. The stock has the potential to move towards the ₹500 target in the near term.