Buy or Sell: Raja Venkatraman recommends three stocks to buy today — 04 March

Subscribe to enjoy similar stories. On March 3, Indian stock indices closed slightly lower amid high market volatility. Mixed signals, including positive domestic data like improved GDP figures and increased GST collections, were overshadowed by global trade uncertainties and concerns over the Ukraine peace deal.

By the end of the day, the Sensex dropped 112.16 points, or 0.15%, to 73,085.94, while the Nifty decreased by 5.40 points, or 0.02%, to 22,119.30. Despite positive global cues leading to a higher opening for Indian indices, they quickly turned negative in the first hour. The Nifty was dragged close to the 22,000 level in the first half.

However, buying activity in the second half reversed all the intraday losses, resulting in only moderate losses by the close. Also read | Manufacturing PMI: Q4 is a litmus test, but no fireworks so far The trends remain challenged as the rebound from lower levels continued to attract supplies, indicating that the mixed global cues are keeping the pressure on market sentiment. As we get into today’s trading action the market remains mixed as attempts to suppress bearish sentiment have been successful at the start of the week.

Each sector contributed some strong performers, which has managed to keep the recovery agenda alive. However, one should take note of the deep correction that we have witnessed and that the fall could continue once key support levels at 22,000 are broken. Also read: Schaeffler India's growth needs speed to justify rich valuation As a rebound is in progress, resistance remains at 22,500, with the Max Pain Point at 22,400, which will come into play as possibility of a rebound unfolds.