Stock market today: Trade setup for Nifty 50 to India-Pakistan news; Eight stocks to buy or sell on Tuesday
Stock Market Today: The positive news flow led by India and Pakistan Ceasefire and the progress in tariff negotiations between US and China meant that the Benchmark Nifty-50 Index ended 3.82% higher at 24,924.70. The Bank Nifty also gained 3.34% to 55,382.85, while all the sectors led by IT , Metals and Realty saw sharp gains. The mid-cap and small-cap also ended more than 4% higher
The Nifty witnessed its best day in four years as multiple positive news developments triggered a risk-on sentiment. Going forward, any dips are likely to be bought into as long as the index remains above 24,350. On the higher end, this leg of the rally might extend towards 25,350/25,750 in the short term, said Rupak De, Senior Technical Analyst at LKP Securities
The next key hurdle for the Bank Nifty is placed near the 56,000–56,100 zone, while major support is seen near 53,480, said Hrishikesh Yedve, AVP Technical and Derivatives Research at Asit C. Mehta.
Confluence of positive geopolitical and economic developments—the ceasefire between India and Pakistan, coupled with a breakthrough trade agreement between the US and China—sparked the strongest daily market rally in recent times. Tarriff issue had the pivotal role in the stock market's consolidation over the year. Sudden easing of the US-China tariff war unlocked multiple investment avenues for investors. Sustained foreign institutional investor (FII) inflows, along with a resurgence in retail participation fuelled by expectations of a swift improvement in business sentiment, propelled today's upside. However, while the momentum remains strong, the market may enter a phase of consolidation in the near term as investors await concrete signs of earnings growth. In the meantime, mid & small caps are expected to maintain the optimism in the broad market, said Vinod Nair, Head of Research, Geojit Investments Limited.
Sumeet Bagadia, Executive Director at Choice Broking, has recommended two stock picks for today. Ganesh Dongre, Senior Manager of Technical Research at Anand Rathi, suggested three stocks, while Shiju Koothupalakkal, Senior Manager — Technical Research, at Prabhudas Lilladher has given two stock picks.
1] India Glycols Ltd - Bagadia recommends buying India Glycols at ₹ 1555 keeping Stoploss at ₹ 1500 for a target price of ₹ 1660
INDIAGLYCO has delivered an impressive up move, currently trading at an all-time high of 1563.2 levels. This surge in the stock continue to delivered a strong bullish momentum supported by steadily rising volumes and improving technical structure. The recent breakout above the crucial resistance at 1515 levels is a significant technical development.
2] Innova Captab Ltd - Bagadia recommends buying Innova Captab at ₹ 942.5 keeping Stoploss at ₹ 905 for a target price of ₹ 1010
INNOVACAP is currently trading at 942.5. The rally was backed by strong volumes and a sharp bullish candle, the stock is suggesting aggressive accumulation at lower levels near its 200-EMA.The counter which has been kept the stock largely sideways for over a month, marking a decisive breakout from a prolonged consolidation phase. The price action shows a clear breakout from a horizontal range expansion underscores renewed investor confidence and robust momentum in the stock
3] State Bank of India- Dongre recommends buying State Bank of India (SBI) at ₹ 800 keeping Stoploss at ₹ 765 for a target price of ₹ 840
In the short-term trend outlook, SBI is displaying a strong bullish setup, making it a compelling buy candidate. On the daily chart, the stock has formed a Bullish Engulfing pattern—a classic signal indicating a potential reversal following recent corrective action. The stock is currently holding key support near ₹ 765 and offers a favorable entry opportunity at the ₹ 800. Technical indicators suggest momentum may build toward the ₹ 840 target, with a prudent stop-loss to be maintained at ₹ 765 to manage downside risk.
4] Cyient Ltd- Dongre recommends buying CYIENT at around ₹ 1260 keeping Stoploss at ₹ 1200 for a target price of ₹ 1350
CYIENT has shown encouraging signs of a trend reversal on its daily chart, forming a Bullish Engulfing pattern after a period of decline. The stock is indicating renewed buying interest at lower levels. With strong support around ₹ 1200, CYIENT offers a short-term buying opportunity at ₹ 1260, aiming for a target of ₹ 2350 while keeping a stop-loss at ₹ 1200.
5] Apollo Tyres Ltd - Dongre recommends buying Apollo Tyres at around ₹ 481 keeping Stoploss at ₹ 470 for a target price of ₹ 510.
APOLLOTYRE is showing a bullish reversal candlestick pattern near its crucial support zone, signaling that recent selling may be losing steam. The stock is trading well above its 50-day EMA, further supporting the positive bias. With a current level around ₹ 481, APOLLOTYRE presents a buying opportunity for a potential move toward ₹ 510, with a protective stop-loss recommended at ₹ 470 to limit downside exposure.
6] Housing & Urban Development Corporation Ltd (HUDCO)- Koothupalakkal recommends buying HUDCO at around ₹ 224 for a target price of ₹ 235 keeping a Stop loss: at ₹ 219
The stock has indicated a higher bottom formation on the daily chart taking support near ₹ 204 level and has witnessed a decent pullback to cross above the 50EMA at ₹ 212 level improving the bias. The RSI has once again regained strength indicating a positive trend reversal to signal a buy. With the chart technically looking good, we suggest to buy the stock for an upside target of ₹ 235 level keeping the stop loss of ₹ 219 level.
7] Power Grid Corporation of India Ltd- Koothupalakkal recommends buying POWER GRID at around ₹ 309 for a target price of ₹ 326 keeping Stoploss at ₹ 302
The stock has taken support near the 50EMA at ₹ 296 level and witnessed a decent pick up with the bias improving and we can anticipate further rise in the coming sessions. The RSI is well placed indicating a positive trend reversal signaling a buy and can anticipate for further upward move. With the chart technically well positioned, we suggest to buy the stock for an upside target of ₹ 326 level keeping the stop loss of ₹ 302 level.
8] Rashtriya Chemicals and Fertilizers Ltd- Koothupalakkal recommends buying Rashtriya Chemicals and Fertilizers Ltd at around ₹ 143 for a target price of ₹ 151 keeping Stop loss at ₹ 140
The stock has overall maintained a positive bias and currently recovered from the important 50EMA at ₹ 135 level, anticipating for further rise. The RSI is well positioned and indicated a positive trend reversal to signal a buy with much upside potential visible. With the chart looking good, we suggest buying the stock for an upside target of ₹ 151 keeping the stop loss of ₹ 140 level.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decisions.
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