The Indian market is expected to trade lower on Friday, following muted global cues. Nifty futures closed positively with gains of 0.80%. Options data suggests a trading range between 22,000 to 23,000 levels. Analysts provide stock recommendations for short-term traders, including Axis Bank, Jindal Steel, and Tata Steel, highlighting key targets and stop losses.

Indian government bond yields remained mostly flat, with the 10-year bond yield rising slightly as RBI did not include it in next week s bond purchase. Investors are awaiting U.S. economic data to assess the Federal Reserve s interest rate trajectory. The RBI plans significant bond purchases and liquidity measures to maintain banking system surplus.

The rupee fell 6 paise to 87.18 against the US dollar on Friday due to global trade uncertainties and foreign capital outflow. Despite this, a weaker dollar index and lower crude oil prices prevented a sharp decline. The BSE Sensex dropped 116.64 points and the Nifty decreased by 19.30 points.

Six Nifty500 stocks, including Jindal Saw and Asian Paints, formed a bullish White Marubozu pattern on March 6, signaling strong buying pressure and potential upward momentum, according to StockEdge’s technical scan.

​So, the first phase of the rally could be led by largecaps and then stabilise and then small and midcaps can join in. So, on the largecap side, I would think that companies and the financial, the larger banks like Axis, ICICI, etc, offer value.

Nifty s five-month, 16.4% correction pauses at 21,964 support, with resistance at 22,800 and 23,000. Market consolidation is expected, prompting a short strangle strategy to benefit from range-bound conditions, volatility contraction, and theta decay.

Anand Rathi maintains its Buy rating on Sharda Cropchem, citing expectations of double-digit revenue growth and stable margins, with a target price of Rs 730, indicating a 30% upside potential.

Reliance Industries (RIL) shares have plummeted by 25% from their peak in July 2024, leading to massive losses for investors. Analysts see potential in a recovery due to expected growth in retail and Jio s strong performance, though the oil and gas sector s outlook remains weak.

The Nifty Auto index was trading 0.68 per cent up at 21101.4.

Despite strong earnings and a resilient residential upcycle, realty stocks remain under pressure, with Nifty Realty down 29% from its peak. FIIs continue to sell, and experts remain cautious on recovery. Regulatory risks, high interest rates, and unsold inventory add concerns. However, long-term investors may find opportunities as the sector stabilizes.