By Soumya Ranjan Today’s stock market: Based on the previous swing high, the Nifty’s immediate resistance is located at 25153. According to experts, a level around 24800 on the lower side could provide instant assistance.
Stock market today: With gains of 0.13% on Thursday, the benchmark Nifty-50 index was able to close above the psychological 25000 mark at 25,005.50. The Bank Nifty closed 0.24% higher at 54,669.60. IT and auto were among the top losers among sectors, while oil and gas and pharmaceuticals led gains for many indices. However, the more general indices stayed mostly unchanged.
Friday’s Trade Setup
Based on the previous swing high, the Nifty’s immediate resistance is located at 25153. Nandish Shah, the Deputy Vice President of HDFC Securities, says that a level around 24800 on the lower side could provide instant support.
According to Bajaj Broking, the Bank Nifty index has the potential to move towards 55,350.
Trump tariffs, US Fed rate cuts, and Global markets
According to Ajit Mishra, SVP, Research at Religare Broking Ltd., markets may now experience a brief pause after absorbing the initial response to positive developments like GST reforms and optimism surrounding US-India trade talks. However, the undertone is likely to remain positive due to rotational buying across important sectors and early indications of a reversal in themes like defense and railways. “In light of this, we still recommend a “buy on dips” approach in the index and advise concentrating on acquiring reputable names in industries and themes that are trending in tandem with the benchmark.” Mishra said
Stocks to buy today
According to market experts, the following eight intraday stocks are recommended for purchase today: Sumeet Bagadia, Executive Director at Choice Broking; Ganesh Dongre, Senior Manager of Technical Research at Anand Rathi; and Shiju Koothupalakkal, Senior Manager of Technical Research at Prabhudas Lilladher. ACME Solar Holdings Ltd., Lupin Ltd., Redington Ltd., United Spirits Ltd., Hi-Tech Pipes Ltd., Bajaj Consumer Care Ltd., Gujarat State Petronet Ltd., and Le Travenues Technology Ltd. (IXIGO).
Sumeet Bagadia’s stock picks
- Le Travenues Technology Ltd (IXIGO)- Bagadia recommends buying IXIGO at ₹321.8 keeping Stoploss at ₹310 for a target price of ₹346
With a recent strong rally, IXIGO is currently showing a long-term uptrend and is trading at ₹321.8. In recent sessions, the price structure has been forming a series of higher highs and lowers. Large bullish candles and higher volumes accompany the rise, suggesting strong buying pressure. The 20-, 50-, 100-, and 200-day Exponential Moving Averages are all trending upward, indicating strong demand and optimistic sentiment over a range of time periods, which supports the trend’s strength.
2. ACME Solar Holdings Ltd- Bagadia recommends buying ACMESOLAR at ₹312.95 keeping Stop loss at ₹302 for a target price of ₹335
ACMESOLAR is trading at ₹312.95, showing a clear uptrend with sustained highs and lows. It broke out of consolidation zone and reached an all-time high at 318, supported by rising volumes and positive sentiment.
Ganesh Dongre’s stocks to buy today
3. Lupin Ltd– Dongre recommends buying LUPIN at ₹1990 keeping Stop loss at ₹1960 for target price of ₹2050
The stock has been displaying a robust and steady bullish trend, which suggests ongoing investor interest and upward price momentum. The stock has a strong support base at ₹60 and is currently trading at ₹1990. Bullish sentiment is reinforced by the recent price action, which points to a reversal from this support, which has historically served as a cushion. The technical setup suggests that there may be a short-term price retracement toward the ₹ 2050 level.
4. Redington Ltd– Dongre recommends buying REDINGTON at ₹242 keeping Stoploss at ₹235 for a target price of ₹254
The stock has shown a strong, noteworthy, and ongoing bullish pattern, providing short-term traders with yet another encouraging opportunity. With a current price of ₹242, the stock is holding a solid support level at ₹235. A price retracement towards the ₹ 254 level is possible, according to the technical setup. Entering at the current market price with a stop-loss at ₹ 235 offers a prudent way to take advantage of the expected upside as the stock is reversing from a support base and exhibiting signs of renewed strength.
5. United Spirits Ltd– Dongre recommends buying UNITDSPR or United Spirits at ₹1318 keeping Stoploss at ₹1287 for a target price of ₹1360
The stock has shown a strong, noteworthy, and ongoing bullish pattern, providing short-term traders with yet another encouraging opportunity. With a current price of ₹1317, the stock is holding a solid support level at ₹1287. A price retracement towards the ₹ 1360 level is possible, according to the technical setup. Entering at the current market price with a stop-loss at ₹ 1287 offers a sensible strategy to profit from the expected upside as the stock is reversing from a support base and exhibiting signs of renewed strength.
Today’s Shiju Koothupalakkal intraday stocks
6. Hi-Tech Pipes Ltd– Koothupalakkal recommends buying HI TECH PIPES at ₹94.40 for a target price of ₹101 keeping Stop loss ₹92
After a substantial correction from the ₹208 zone, the stock bottomed out at the ₹86 level. It then saw a respectable pullback, resulting in a positive candle formation with high volume participation to strengthen the bias. The RSI is improving and rising, suggesting that the current rate has a lot of upside potential. Since the chart is technically sound, we advise purchasing the stock.
7. Bajaj Consumer Care Ltd– Koothupalakkal recommends buying BAJAJ CONSUMER at ₹228 for a Target price of ₹245 keeping Stop loss at ₹222
In order to strengthen the bias and anticipate a new upward move in the upcoming sessions, the stock has shown a strong support near the 50 EMA level at the 220 zone and has recovered with a bullish candle formation. With a positive trend reversal signaling a buy and upside potential visible from the current zone, the RSI is in a good position. We advise purchasing the stock because the chart appears to be technically sound.
8. Gujarat State Petronet Ltd– Koothupalakkal recommends buying GSPL at ₹310 for a target price of ₹330 for a Stop loss at ₹303
In order to strengthen the bias and prepare for future gains, the stock has shown a strong bullish candle with high volume participation, breaking through the 50EMA at the ₹305 level. With the recent indication of a buy signal, the RSI has strengthened and has the potential to continue the upward trend in the future. We advise purchasing the stock because the chart appears to be in good technical condition.
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.