By Soumya Ranjan Stock Market Today: The current mood seems pessimistic and could push the Nifty in the short term towards the 24,920–24,900 range. Analysts predicted that 25,260 would continue to be a significant resistance level on the higher side.
Stock Market Today: Amid weak global cues, the benchmark Nifty 50 index ended Thursday’s trading session 0.40% lower at 25,111.45. The market’s decline was led by the IT index, while the Bank Nifty also finished 0.59% lower at 56,828.80. Metals, FMCG, and real estate were some of the main winners. Mid and small-cap stocks also saw a slight decline in the overall indices.
Friday’s Trade Setup
There is a clear consolidation breakout, which suggests that the bullish momentum is waning. The current mood seems pessimistic and could push the Nifty in the short term toward the 24,920–24,900 range. According to Rupak De, Senior Technical Analyst at LKP Securities, 25,260 is probably going to continue to be a significant resistance on the higher side.
According to Bajaj Broking, the 56,000–55,500 range is the Bank Nifty’s primary short-term support.
Today’s world markets and Q1 findings
Uncertainty surrounding the future of US Fed Chair Jerome Powell, ongoing outflows of foreign funds, and pressure from industry titans like Infosys, HDFC Bank, and Reliance Industries were some of the main causes of the market pressure.
Markets may consolidate in the near future due to the important Q1 earnings that Axis Bank, Wipro, and LTI Mindtree have scheduled. Given the recovery in rural demand, sector-specific tailwinds in infrastructure and healthcare, and advancements in the trade dialogue between the US and India, analysts are cautiously optimistic. stated Vikram Kasat, PL Capital’s Head of Advisory.
Stocks to purchase today
Market experts Shiju Koothupalakkal, Senior Manager of Technical Research at Prabhudas Lilladher; Ganesh Dongre, Senior Manager of Technical Research at Anand Rathi; and Sumeet Bagadia, Executive Director at Choice Broking, suggested the following eight intraday stocks to purchase today: Axis Bank Ltd., Punjab National Bank, Thomas Cook (India) Ltd., Time Technoplast Ltd., National Aluminium Company Ltd., Welspun Corp Ltd., Prestige Estates Projects Ltd., and VA Tech Wabag Ltd.
Stock recommendations by Sumeet Bagadia
1.Thomas Cook (India) Ltd.
Bagadia recommends buying Thomas Cook (India) at ₹177.9, with a stoploss of ₹171, for a target price of ₹188. The stock is in a strong uptrend, with signs of a breakout.
THOMASCOOK, trading at ₹177.9, is experiencing a strong uptrend, with a consolidation phase and potential breakout signs, indicating a fresh upside rally.
2. Time Technoplast Ltd: Bagadia recommends buying TIMETECHNO at around ₹472, keeping Stoploss at ₹455 for a target price of ₹500
TIMETECHNO, trading at ₹472, has experienced a bullish reversal, with the 20-day EMA acting as immediate support, confirming the broader trend remains positive.
Ganesh Dongre’s stocks to buy today
3. Axis Bank Ltd—Dongre recommends buying Axis Bank at around ₹1160, keeping Stoploss at ₹1140 for a target price of ₹1210
The stock is showing a strong bullish pattern, offering a potential price retracement towards the ₹ 1210 level. Investing at the current market price with a stop-loss at ₹ 1140 is a prudent approach.
4. Punjab National Bank—Dongre recommends buying Punjab National Bank, or PNB, at around ₹115, keeping the stop loss at ₹110 for a target price of ₹122
The stock is showing a strong bullish pattern, offering a promising opportunity for short-term traders. Priced at ₹ 115, it’s likely to retrace towards ₹ 122, and entering at a stop-loss at ₹ 3070 is prudent.
5. National Aluminium Company Ltd-Dongre recommends buying NATIONALUM at around ₹189, keeping the stop loss at ₹185 for a target price of ₹198.
The stock is showing a strong bullish trend, potentially extending upwards. Currently trading at ₹ 189, it holds above a key support level at ₹ 185. Traders should consider buying with a stop-loss at ₹ 185, aiming for a favorable risk-to-reward ratio.
Shiju Koothupalakkal intraday stocks for today
6. Welspun Corp Ltd-Koothupalakkal recommends buying WELSPUN CORP at around ₹931.90 for a target price of ₹975, keeping Stop loss: 914
The stock is experiencing consolidation and a bullish candle formation, with significant volume participation. The RSI is sliding, indicating a positive trend reversal. A buy with upside potential is suggested at 975, with a stop loss at 914.
7. Prestige Estates Projects Ltd-Koothupalakkal recommends buying PRESTIGE ESTATE at around ₹1783 for a target price of ₹1865, keeping Stop loss at ₹1750
The stock has broken above the ₹1765 peak with a bullish candle formation, showing potential for continued upward movement. The RSI is rising, indicating strength, and the chart is technically good.
8. VA Tech Wabag Ltd-Koothupalakkal recommends buying VA TECH WABAG at around ₹1498 for a target price of ₹ 1565, keeping the stop loss at ₹1475
The stock has seen a bullish candle formation to move past the 50EMA zone at the ₹1482 level to improve the bias after a brief period of consolidation, maintaining above the significant 100-period MA at the ₹1440 level. We can anticipate additional gains in the upcoming sessions. With the RSI in a good position and indicating a buy, the volume has increased and it can continue the upward trend. We advise purchasing the stock because it has a lot of upside potential and a technically appealing chart.
Disclaimer: The opinions and suggestions expressed above are not those of Times of Dalal Street, but rather those of specific analysts or brokerage firms. Before making any investment decisions, we encourage investors to consult with qualified professionals.