MarketSmith Analyst Raja Venkatraman Picks Four Stocks for March 23

Market Update: March 23, 2026

Indian Stock Market Performance

The benchmark stock indices, Sensex and Nifty 50, closed nearly half a percent higher on Friday, driven by strong purchases in PSU bank, IT, and metal sectors amid worries about a possible rise in fuel-related inflation. The 30-share BSE Sensex rose by 325.72 points or 0.44% to finish at 74,532.96, while the Nifty 50 increased by 112.35 points, or 0.49%, to conclude at 23,114.50.

Weekly Overview

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On a weekly basis, the BSE benchmark decreased by 30.96 points or 0.04%, while the Nifty 50 fell by 36.6 points or 0.15%. Analysts indicate that developments concerning the ongoing conflict in West Asia and their effect on crude oil prices will continue to influence investor sentiment in the upcoming shortened holiday week.

Stock Recommendations

Based on technical analysis and market trends, the following stocks are recommended for purchase:

1. Fertilizers and Chemicals Travancore Ltd (FACT)

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• Buy above ₹800
• Stop loss: ₹760
• Target price: ₹880 (Multiday)
• Key metrics:

• P/E Ratio: 1831.87
• 52-week high: ₹1111
• Volume: 4.72M

• Technical analysis: Support at ₹680, resistance at ₹1100
• Risk factors: Reliance on government subsidies, input cost volatility, and a highly leveraged financial structure

2. Chambal Fertilisers & Chemicals Ltd

• Buy above ₹435
• Stop loss: ₹400
• Target price: ₹510 (Multiday)
• Key metrics:

• 52-week high: ₹650
• Volume: 2.45M

• Technical analysis: Support at ₹400, resistance at ₹600

3. CCL Products (India) Ltd

• Buy above ₹140
• Stop loss: ₹130
• Target price: ₹160 (Multiday)
• Key metrics:

• P/E Ratio: 23.45
• 52-week high: ₹180
• Volume: 1.23M

• Technical analysis: Support at ₹120, resistance at ₹160

4. Aurobindo Pharma Ltd

• Buy above ₹550
• Stop loss: ₹530
• Target price: ₹620 (Multiday)
• Key metrics:

• P/E Ratio: 25.67
• 52-week high: ₹720
• Volume: 2.85M

• Technical analysis: Support at ₹500, resistance at ₹660