By Soumya Ranjan Today’s stock market: The trend for the Nifty is probably going to stay weak in the near term, with support at 24,500 and resistances at 24,700 and 24,850 on the higher end.
Stock market today:
As consolidation persisted, the benchmark Nifty-50 index closed Tuesday at 24,579.60, down 0.18%. Among other losers, the bank Nifty experienced a steep 0.63 correction to 53,661.00. The benchmark was supported by the FMCG, Metals Realty, and other companies, while mid- and small-cap stocks in the larger indices saw gains of 0.27 to 0.53%.
Wednesday’s Trade Setup
According to Rupak De, Senior Technical Analyst at LKP Securities, the trend for the Nifty is probably going to stay weak in the near term, with support at 24,500 and resistances at 24,700 and 24,850 on the higher end.
According to Bajaj Broking, the Bank Nifty has immediate support between the 53,200 and 53,500 levels.
Trump Tariffs and Global Markets
“Banking stocks led the decline as domestic equities reversed early gains from strong macro data, ending lower on profit booking amid caution ahead of the GST Council meeting and F&O expiry. As ethanol regulations were loosened, sugar stocks rose, and export-focused businesses prospered after the US’s dovish comments, which rekindled trade optimism. But in the face of global uncertainty, investors are still cautious and are concentrating on domestic consumption in the near term, according to Vinod Nair, Head of Research at Geojit Investments Limited.
Stocks to buy today
The following eight intraday stocks were suggested by market experts: Parag Milk Foods Ltd., Balmer Lawrie & Company Ltd., State Bank of India, Radico Khaitan Ltd., Kotak Mahindra Bank Ltd., VA Tech Wabag Ltd., K.P.R. Mill Limited., and One 97 Communications Ltd (PAYTM). These recommendations were made by 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.
Stock recommendations by Sumeet Bagadia
- Parag Milk Foods Ltd-Bagadia recommends buying PARAGMILK at ₹245 keeping Stoploss at ₹236 for a target price of ₹265
Technically speaking, PARAGMILK saw a significant upswing during Tuesday’s trading session, regaining important moving averages. Parag Milk is currently trading well above its important moving averages. A medium-term bullish undertone is reaffirmed by the shorter EMAs aligning above the longer EMAs. Crucially, the price recovery from the 220–225 support zones has strengthened the current upward trend.
2. Balmer Lawrie & Company Ltd-Bagadia recommends buying BALMLAWRIE at ₹233.5 keeping Stop loss at ₹225 for a target price of ₹250
BALMLAWRIE performed well during Tuesday’s trading session; the steep price increase supported by strong volumes suggests that there is strong buying interest and that market sentiment is shifting in favor of the positive. strong upward trend and a noteworthy closing at ₹641.1. Following the recent surge, the stock has seen strong buying interest, resulting in consecutive gains that may lead to further upward movement, providing investors with an optimistic outlook.
Ganesh Dongre’s stocks to buy today
3. State Bank of India- Dongre recommends buying State Bank of India at ₹805 keeping Stoploss at ₹795 for a target price of ₹822
The stock is trading at ₹ 805 with a strong bullish pattern, indicating sustained investor interest and positive price momentum. Its support base at ₹ 795 suggests a reversal from this level, reinforcing bullish sentiment. Entering at ₹ 795 with a stop-loss offers a strategic opportunity.
4. Radico Khaitan Ltd– Dongre recommends buying RADICO at around ₹2897 keeping Stoploss at ₹2860 for a target of ₹2955.
The stock has shown a strong, noteworthy, and ongoing bullish pattern, providing short-term traders with yet another encouraging opportunity. The stock is trading at ₹2897 right now, with ₹2860 serving as a strong support. A price retracement towards the ₹ 2955 level is possible, according to the technical setup. Entering at the current market price with a stop-loss at ₹ 2860 offers a prudent way to profit from the expected upside as the stock is reversing from a support base and exhibiting signs of renewed strength.
5. Kotak Mahindra Bank Ltd -Dongre recommends buying KOTAKBANK at around ₹1945 keeping Stop loss at ₹1925 for a target price of ₹1985.
The stock has shown a strong, noteworthy, and ongoing bullish pattern, providing short-term traders with yet another encouraging opportunity. The stock has a strong support at ₹ 1925 and is currently trading at ₹ 1945. A price retracement towards the 1985 level of ₹ is possible, according to the technical setup. Entering at the current market price with a stop-loss at ₹ 1925 offers a prudent way to profit from the expected upside as the stock is reversing from a support base and exhibiting signs of renewed strength.
Shiju Koothupalakkal intraday stocks for today
6. VA Tech Wabag Ltd – Koothupalakkal recommends buying VA TECH WABAG at ₹1510 for a target of ₹1600 keeping Stop loss at ₹1480
The stock is still on the rise overall, but it recently saw a short correction that took support close to the ₹1454 level and signaled a pullback to strengthen the bias just to pass the significant 200 period SMA at the ₹1507 level. More growth is anticipated in the days ahead. After correcting, the RSI is now in a good position to signal a buy and a positive trend reversal. Since the chart is technically sound, we anticipate more gains and advise purchasing the stock.
7. K.P.R. Mill Limited– Koothupalakkal recommends buying KPR MILLS at around ₹997 for a target price of ₹1050 keeping stoploss at ₹ 980.
In order to strengthen the bias and prepare for future gains, the stock recently underwent a substantial correction and took support close to the 950 zone, indicating a double bottom pattern. It then recovered with a pullback and respectable volume participation. The RSI is in a good position and has given a buy signal to continue the upward trend. We advise purchasing the stock because of the favorable risk-reward ratio and the technically sound chart.
8. One 97 Communications Ltd (PAYTM) Koothupalakkal recommends buying PAYTM at ₹1257 for a target price of ₹1315 keeping Stop loss at ₹1230.
On the daily chart, the stock has shown a strong upward trend that is getting stronger with a series of higher bottom formations. It is currently taking support near the 1205 zone, which suggests a new move that will likely generate more momentum in the upcoming sessions. The RSI is still strong and has the potential to continue its upward trajectory. 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.