
Stock market today: Trade setup for Nifty 50 and global markets, Q1 results today; Eight stocks to buy or sell on Monday
The zone of 24600-24550 will act as immediate support for the Nifty-50 index. Any sustainable move below the level of 24550 will lead to further correction up to the 24200 level. On the upside, the zone of 25100-25150 will be the crucial hurdle for the index, said Sudeep Shah, Vice President and Head of Technical and Derivative Research, SBI Securities.
For Bank Nifty 57300-57400 continues to act as a formidable barrier for the bull, as per Shah
The start of the new month will bring attention to key economic data, including Industrial Production (IIP), HSBC Manufacturing PMI, and monthly auto sales. The scheduled expiry of the July derivatives contracts may add further volatility to the markets.
As the earnings season progresses, results from heavyweights such as IndusInd Bank, Asian Paints, NTPC, Tata Steel, Hindustan Unilever, Mahindra & Mahindra, Maruti Suzuki, Sun Pharma, ITC, and others will be tracked for insights on sectoral resilience and corporate performance.
Globally, traders will focus on the U.S. Fed's interest rate decision and GDP growth numbers, along with updates on trade negotiations ahead of Trump's August 1 tariff deadline, which could impact FII flows, said Ajit Mishra, SVP, Research, Religare Broking.
Regarding stocks to buy today, market experts—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—recommended these eight intraday stocks for today: Torrent Pharmaceuticals Ltd., Syrma SGS Technology Ltd., National Aluminium Company Ltd., Marico Ltd., Shyam Metalics and Energy Ltd., Laxmi Organic Industries Ltd. and Tourism Finance Corporation of India Ltd.
1. Torrent Pharmaceuticals Ltd- Bagadia recommends buying TORNTPHARM at around ₹ 3605, keeping Stoploss at ₹ 3480 for a target price of ₹ 3880
TORNTPHARM is exhibiting strong bullish momentum, currently trading at an all-time high of 3613.9 levels. TORNTPHARM surged nearly 2.4%, indicating firm buying interest throughout the session. TORNTPHARM has convincingly broken past a multi-month consolidation zone, decisively crossing its resistance zone around ₹ 3555. The price action indicates strength, with candles exhibiting a strong bullish body and minimal upper wick—suggesting buyers remained in control throughout the day.
2. Syrma SGS Technology Ltd-Bagadia recommends buying SYRMA at around ₹ 728.15, keeping stop-loss at ₹ 700 for target price of ₹ 785
SYRMA, currently trading at 728.15, continued its stellar upward journey. This rally marks a decisive breakout above the previous resistance zone, with a sharp bullish candle and strong volume backing the move. Notably, the 20 EMA is sharply rising, and the distance between it and the other moving averages is increasing—indicating strong momentum and price expansion. This kind of EMA alignment, where shorter-term EMAs are significantly above longer-term EMAs,
3. National Aluminium Company Ltd—Dongre recommends buying Nationalum at ₹ 194, keeping Stop Loss at around ₹ 185 for a target price of ₹ 205
Stock has been exhibiting a strong and consistent bullish pattern, indicating sustained investor interest and positive price momentum. The stock is currently trading at ₹ 194 and has established a solid support base at ₹ 185. This level has historically acted as a cushion, and the recent price action suggests a reversal from this support, reinforcing bullish sentiment. The technical setup points to the potential for a price retracement toward the ₹ 205 level in the near term. Given the renewed strength and the favorable risk-reward ratio, entering at the current market price with a stop-loss placed at ₹ 185 offers a strategic opportunity to capture the expected upside move. The outlook remains positive as long as the stock holds above its key support zone
4. DLF Ltd-Dongre recommends buying DLF at around ₹ 826 with a stop loss at ₹ 810 for a target ₹ 865
Stock has exhibited a strong, notable, continued bullish pattern, offering another promising opportunity for short-term traders. The stock is currently priced at ₹ 826 and maintaining strong support at ₹ 810. The technical setup indicates the potential for a price retracement towards the ₹ 865 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 ₹ 810 offers a prudent approach to capturing the anticipated upside.
5. Marico Ltd—Dongre recommends buying MARICO at around ₹ 695, with a stop loss ₹ 710 and a target price ₹ 735
Stock has exhibited a strong, notable, continued bullish pattern, offering another promising opportunity for short-term traders. The stock is currently priced at ₹ 695 and maintaining strong support at ₹ 685. The technical setup indicates the potential for a price retracement towards the ₹ 720 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 ₹ 685 offers a prudent approach to capturing the anticipated upside.
6. Shyam Metalics and Energy Ltd.- Koothupalakkal Buy SHYAM METALLIC for ₹ 969, with a target price of ₹ 1030, keeping the stop loss at around ₹ 950
The stock has surged ahead, indicating a breakout above the major resistance zone at the ₹ 952 level, with the trend gaining strength, and we can anticipate a further rise in the coming days. The volume of participation has been on the rise with the RSI gaining strength and has further upside potential to carry on with the positive move. With the chart technically looking good, we suggest buying the stock for an upside l.
7. Laxmi Organic Industries Ltd- Koothupalakkal Buy LAXMI ORGANICS at ₹ 205.70. Target for 217 Stop loss: 200
The stock has recently picked up from the 50EMA zone at the ₹ 196 level to indicate a breakout above the triangular pattern on the daily chart to improve the bias, and we expect a continuation of the positive move further ahead in the coming sessions. The RSI has been moving within a range for quite some time, currently indicating a positive trend reversal to signal a buy. With the chart technically looking attractive, we suggest buying the stock.
8. Tourism Finance Corporation of India Ltd.-Koothupalakkal recommends TOURISM FINANCE at around ₹ 291.50 for a target price of ₹ 310 for stop loss at ₹ 285
The stock has witnessed a strong run up in the last 4 months and recently, after a short period of correction, has once again gained strength, taking support near the ₹ 275 level, and with a positive bullish candle formation, has improved the bias, anticipating a further rise in the coming sessions. The RSI has indicated strength to gain further, and with the chart technically looking good, we suggest buying the stock.
Disclaimer: The views and recommendations above are those of individual analysts or brokerage companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
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