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Stock market today: Trade setup for Nifty 50 to global markets; Eight stocks to buy or sell on Friday

Stock market today: Trade setup for Nifty 50 to global markets; Eight stocks to buy or sell on Friday

Mint16-05-2025

Stock Market Today: The Benchmark Nifty-50 Index rebounding well on Thursday ended 1.6% higher at 25,062.10. Bank Nifty also ended 1.01% higher at 55,355.60. as Metals Realty, Auto, IT Oil & gas led the rally for most other sectors. In the broader indices small and mid caps ended 0.5-0.74% higher.
For the Nifty-50 Index 24,900 and 24,750 would act as key support zones, while 25,210–25,300 could serve as key resistance levels for the bulls. However, below 24,750, the uptrend would become vulnerable, said Shrikant Chouhan, Head – Equity Research, Kotak Securities
On the other hand, the immediate hurdle for Bank Nifty is seen around 55,500, while major support is placed near 53,480, said Hrishikesh Yedve, AVP Technical and Derivatives Research at Asit C. Mehta.
Trump's zero-tariff comment has injected fresh optimism into Indian equities, reinforcing the bullish undertone. With the Nifty sustaining above 25,000, near-term momentum remains intact, though upcoming earnings and global cues could test market resilience, said Vikram Kasat, Head - Advisory, PL Capital.
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.
These Include APL Apollo Tubes Ltd, Grasim Industries Ltd, Kotak Mahindra Bank Ltd , Asian Paints Ltd, Bajaj Finance Ltd, Welspun Corp Ltd, Bharat Heavy Electricals Ltd and Himatsingka Seide Ltd. APL Apollo Tubes Ltd- Bagadia recommends buying APL Apollo at around ₹ 1775.9 keeping Stoploss at ₹ 1713 for a target price of ₹ 1900
APLAPOLLO is currently trading at the levels of 1775.9, the stock is exhibiting a strong bullish trend, having broken out from a consolidation zone with robust volume. The stock has formed a series of higher highs and higher lows, indicating sustained upward momentum. A notable price action development, typically viewed as a bullish continuation formation. The stock is now trading close to its 52-week high of 1781.8, suggesting renewed investor interest and confidence.
2.Grasim Industries Ltd - Bagadia recommends Grasim Industries at ₹ 2824.80 keeping Stop Loss at ₹ 2726 for a target price of ₹ 3022
GRASIM is currently trading at ₹ 2,824.80 and is demonstrating strong upward momentum. The stock has rebounded from lower levels, forming a higher high and higher low structure, which is a classic sign of a sustained uptrend. A robust bullish candlestick pattern has emerged, further indicating strength in the prevailing trend. Additionally, GRASIM has broken out of a short-term consolidation zone, signaling renewed buying interest and reinforcing bullish sentiment.
3. Kotak Mahindra Bank Ltd - Dongre recommends buying KOTAKBANK at around ₹ 2107 keeping Stoploss at ₹ 2075 for a target price of ₹ 2160
In the latest short-term technical analysis, KOTAKBANK has shown a strong and consistent bullish trend, indicating the potential for an extended upward move. The stock is currently trading at ₹ 2107 and holding above a key support level at ₹ 2075. This support zone serves as a critical point for risk management. Given the bullish momentum, traders are advised to consider a buying opportunity with a stop-loss placed strategically at ₹ 2075 to manage downside risk. The target for this trade is set at ₹ 2160, suggesting a favorable risk-to-reward ratio and a continuation of the prevailing upward trend.
4. Asian Paints Ltd- Dongre recommends buying Asian Paints at around ₹ 2332 keeping Stoploss at ₹ 2280 for a target price of ₹ 2400
ASIANPAINT has exhibited a notable bullish reversal pattern, offering another promising opportunity for short-term traders. The stock is currently priced at ₹ 2332 and maintaining a strong support at ₹ 2280. The technical setup indicates the potential for a price retracement towards the ₹ 2400 level. With the stock reversing from a support base and showing signs of renewed strength, entering at the current market price with a stop-loss at ₹ 2280 offers a prudent approach to capturing the anticipated upside.
5. Bajaj Finance Ltd - Dongre recommends buying BAJFINANCE at around ₹ 9188 keeping Stoploss at ₹ 8900 fr a target price of ₹ 9400.
BAJFINANCE , the stock is currently trading at ₹ 9188 and appears to be in bullish zone for short term. A bullish reversal pattern has emerged on the daily chart, indicating a potential upmove. The critical support level lies at ₹ 8900, which also acts as a key stop-loss point for this trade. With bullish cues signaling a possible retracement towards the ₹ 9400 target, this setup provides a favorable entry opportunity for traders looking to capitalize on a technical rebound.
6. Welspun Corp Ltd - recommend buying Welspun Corp at around ₹ 786 for a target price of ₹ 830 keeping Stop loss at ₹ 770
The stock has recovered significantly from the trendline support zone of ₹ 720 and has moved past the important 50EMA level at ₹ 780 zone to improve the bias and can expect for further rise in the coming sessions. The RSI is well positioned and has indicated a positive trend reversal to signal a buy and from current rate, much upside potential is visible. With the chart technically looking good, we suggest buying the stock for an upside target of 830 keeping the stop loss of ₹ 770 level.
7. Bharat Heavy Electricals Ltd- recommend buying Bharat Heavy Electricals or BHEL at around ₹ 245.60 for a Target price of ₹ 256 keeping Stop loss at ₹ 240
The stock has indicated a higher bottom formation on the daily chart and recently has witnessed a decent strong pullback to move past the important 200 period MA after a long period to improve the bias and can anticipate for further rise in the coming sessions. The RSI is maintained strong, signalling a buy to anticipate for another fresh round of upward move. With the chart technically well positioned, we suggest buying the stock for an upside target of ₹ 256 level keeping the stop loss of ₹ 240 level.
8. Himatsingka Seide Ltd - recommends buying Himatsingka Seide or HIMATSINGKA SEIDE cat around ₹ 163 for a Target price of ₹ 172 keeping Stop loss at ₹ 159
The stock after witnessing a strong pullback moving past the significant ₹ 200 period MA and 100 period MA zone at ₹ 158 levels, has improved the bias and with a breakout indication has further strengthen the trend to anticipate for further rise. The RSI is well positioned and is on the rise with further upside potential visible. With the chart looking good, we suggest to buy the stock for an upside target of ₹ 172 keeping the stop loss of ₹ 159 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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Investors should balance the growth potential against heightened volatility and selectivity risks amid an uneven earnings backdrop. The outlook for Indian IT sector in FY26 appears challenging, primarily due to the impact of discretionary spending cuts in the US amid rising recessionary pressures. The US, which accounts for over half of India's US$190bn software exports, is experiencing a cautious consumer sentiment with many consumers planning to reduce spending on discretionary items. This cautiousness is exacerbated by tariffs imposed by the US administration, which have fueled inflation and heightened fears of a recession. Tariffs, which is not directly targeting IT services, but indirectly affect Indian IT companies as their clients in manufacturing, logistics and retail sectors face higher costs and uncertainty, leading to delayed projects and slower deal cycles. As a result, current scenario is marked by limited new outsourcing opportunities and pressure on margin due to pricing and limited rupee depreciation benefits. However, Indian IT companies specialising in AI, Gen AI and cloud services are poised for robust growth, driven by rapid digital transformation and increasing adoption of AI-as-a-Service and hybrid cloud models. US companies, facing recessionary pressures are intensifying cost optimization efforts by prioritizing scalable, efficient cloud solutions and AI deployments that reduce operational expenses while enhancing productivity. This focus on cost efficiency is influencing Indian IT firms to offer optimized cloud and AI services that align with US clients' budget-conscious strategies. Defence and railway stocks have shown a notable upward movement recently, fueled by strong government initiatives and strategic sectoral developments. Defence stocks are signaling a potential turnaround after previous corrections, supported by India's aggressive push for indigenisation and export growth. Further, Operation Sindoor has significantly boosted investor interest defence stocks, as some of the stocks rising up to 35% shortly after the conflict began. The surge reflects expectations of increased defence spending, replenishment of military inventories and export opportunities driven by India's demonstrated indigenous military strength and technological edge. Meanwhile, railway stocks also rallied strongly on the back of a significant capex push, with government budget allocations of Rs.2.62 lakh crore for railway capital spending in 2025–26 aimed at infrastructure upgrades and electrification projects. 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Large-cap withdrawals such as InterGlobe ( ₹ 11,560 crore) and ITC-BAT ( ₹ 12,900 crore) may indicate portfolio rebalancing, while small and midcap promoter selling may be seen with caution and may warrant a deeper analysis. While not strictly a red warning, this pattern suggests that bulls should exercise greater caution given the current values. Many leading brokerages have recently upgraded their Nifty-50 target for the year 2025, reflecting a bullish outlook based on fundamental analysis. This optimism is driven by strong corporate earnings growth, robust economic indicators, and favourable monetary policy with 50bps rate cut by the RBI. FIIs have also turned net buyers amid a weakening dollar index and volatile US bond yields, further supporting market sentiment. On the above thesis, we are also expecting ~11% EPS growth in Nifty-50 constituent companies to reach to ~Rs.1,300 in FY26. On this basis, we are expecting Nifty-50 to reach at 26,600 level, a further upside of 6.5% by end of 2025. Foreign investors have shown renewed confidence in Indian markets, pumping in ₹ 4,223 crore in April followed by a record ₹ 19,860 crore in May 2025, marking the strongest inflows this year. This enthusiasm comes from a mix of positive factors: India's GDP growth surprised everyone with a strong 7.4% in the last quarter, the weakening US dollar made Indian assets more attractive and talks of a possible US–India trade deal have boosted long-term optimism. On top of that, policy changes like easing investment rules for Saudi Arabia's sovereign fund show India's commitment to welcoming foreign capital. While the near-term uncertainties such as geopolitical risks and rising US treasury yields may reverse this trend. However, India's solid economic growth and ongoing reforms will mitigate these risks and maintain strong foreign investor interest in the months ahead. Technology and IT services are top sectors for wealth creation, driven by digital transformation and AI adoption. Renewable energy and electric vehicles benefit from strong global sustainability trends and supportive policies. The pharmaceutical and healthcare sector offers consistent growth due to innovation and export opportunities. Infrastructure development is propelled by urbanization and government projects. Financial services and FinTech are growing through digital inclusion and financial deepening. Lastly, consumer goods thrive on rising middle-class consumption and rural market penetration. Diversifying across these sectors can help investors build and preserve wealth. As of early June 2025, the Indian rupee is stable, trading between ₹ 85.80 and ₹ 86 against the US dollar. It has strengthened slightly by 7 paise, helped by foreign money coming into the country and a soft approach by the RBI. The RBI surprised everyone by cutting the repo rate by 0.5% to 5.5%—its biggest cut in five years. It also reduced the CRR by 1%. This shows the RBI is confident because inflation in India has fallen to about 3.16% in May, which is low and manageable. A weaker US dollar, lower inflation in India, and cheaper oil prices have reduced India's import costs. This helps the economy since India imports a lot of oil and goods priced in dollars. Exporters, especially in IT and pharma, could benefit as their products become more competitive globally. However, their earnings in dollars may be worth less in rupees. Upcoming US job data could also affect how strong or weak the dollar remains and influence investment into countries like India. Disclaimer: This story is for educational purposes only. 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 making any investment decisions.

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