By Soumya Ranjan Stock market today: Technically, the Nifty has resistance at 25,100–25,200 and immediate support at 24,700–24,750. Experts say that the Sensex is still comfortably above 81,000 and that steady buying occurs during dip
Today’s stock market: The benchmark Nifty 50 Index ended the week at 24,967.75, up 0.39%, marking a positive start to the week. However, the Bank Nifty ended the day nearly unchanged at 55,139.30. While IT saw notable increases, other sectoral indices showed strong support from the real estate and consumer durables sectors. Mid- and small-cap stocks ended flat to slightly higher in the overall indices.
Tuesday’s Trade Setup
Technically, the Nifty has resistance at 25,100–25,200 and immediate support at 24,700–24,750. According to Vikram Kasat, the Sensex is still comfortably above 81,000 and dips draw consistent buying. Head of PL Capital’s advisory division.
According to Bajaj Broking, the Bank Nifty has immediate support between 55,000 and 54,800.
Today’s global markets
Expectations of a September rate cut by the Fed and a subsequent drop in the US 10-year yield sent a surge of optimism through the domestic market. Thanks to positive sentiment around the world, the IT index performed better. “A strong monsoon season could act as a catalyst to navigate any uncertainty in the global trade environment, and the proposed rationalization of the GST keeps the domestic levers positive to push consumption demand.” Vinod Nair, Geojit Investments Limited’s Head of Research
Stocks to buy 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 for today: Aditya Birla Real Estate Ltd., Quality Power Electrical Equipments Ltd., DLF Ltd., PNB Housing Finance Ltd., Bharat Electronics Ltd., Bikaji Foods International Ltd., and Jindal Stainless Ltd.
Stock recommendations by Sumeet Bagadia
- Bikaji Foods International Ltd-Bagadia recommends buying BIKAJI at around ₹799.50, keeping Stop Loss at ₹771 for a target price of ₹ 856
As the stock continues to move in a rising channel pattern, creating a string of higher highs and higher lows, BIKAJI is currently trading at 799.5 and displaying an overall uptrend. With resistance positioned around the channel’s upper band, which is between ₹830 and ₹840, the price structure shows steady strength and accumulation.
2. Jindal Stainless Ltd—Bagadia recommends buying JSL at around ₹800, keeping Stop Loss at ₹772, for a target price of ₹856.
JSL is still on a strong upward trajectory and is currently trading at 800. The stock has been showing consistent bullish momentum by making a string of higher highs and higher lows. A bullish rounding bottom pattern has been validated by a breakout from the rounding bottom formation, indicating a change from accumulation to an upward trend. The stock setting a new 52-week high at ₹818.2, backed by steady volume activity, further confirms this breakout.
Ganesh Dongre’s stocks to buy today
3. DLF Ltd—Dongre recommends buying DLF a around ₹771, keeping Stoploss at ₹755 for a target price of ₹790
A noteworthy bullish reversal pattern has surfaced in the stock’s most recent short-term trend analysis. This technical pattern raises the prospect of a brief price retracement for the stock, with a possible peak of Rs. 790. The stock is currently holding steady at Rs. 755, a critical support level. There is a chance to buy at the current market price of Rs. 771. This implies that investors might think about buying the stock at its current price in the hopes that it will rise to the Rs. 790 target.
4. PNB Housing Finance Ltd—Dongre recommends buying PNBHOUSING at around ₹800, keeping Stoploss at ₹780, for target price of ₹840
This stock has shown significant support at around Rs. 780. Therefore, traders can purchase and hold this stock as it has once again shown a reversal price action formation at the Rs. 800 price level. The stock may continue to rise until it reaches its next resistance level of Rs. 840.
5. Bharat Electronics Ltd—Dongre recommends buying Bharat Electronics Ltd, or BEL at around ₹372, keeping the stop loss at ₹365 for a target price of ₹385
A noteworthy bullish reversal pattern has surfaced in the stock’s most recent short-term trend analysis. According to this technical pattern, the price of the stock may temporarily decline, perhaps to about Rs. 385. At Rs. 365, the stock is currently holding a critical support level.
Today’s Shiju Koothupalakkal intraday stocks
6.Aditya Birla Real Estate Ltd-Koothupalakkal recommends buying ABREL a around ₹1845 for target price of ₹1950, keeping the stop loss at ₹1810
The stock is showing signs of bottoming near the ₹1760 zone, with a positive candle formation and a RSI reversal from the oversold zone. With upside potential, it’s recommended to buy the stock.
7. Quality Power Electrical Equipments Ltd-Koothupalakkal recommends buying QUALITY POWER at around ₹822 for a target price of ₹865, keeping Stop loss at ₹805
The stock has experienced consolidation and is currently showing a triangular breakout with a significant price spurt. The RSI is well-positioned, indicating a positive trend reversal, suggesting a buy with upside potential.
8. Kirloskar Brothers Ltd-Koothupalakkal recommends buying KIRLOSKAR BROTHERS at around ₹2034, for a target price of ₹2150, keeping the stop loss at ₹1990
The stock stabilized near the 200-period SMA at ₹1928 and has moved past the 50 EMA at ₹1970. The RSI is rising, signaling a buy with upside potential. The chart looks good, suggesting further gains.
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.