Latest news with #BankNifty
Mint
10 hours ago
- Business
- Mint
Stock Picks: Sagar Doshi suggests Jindal Steel, Ajanta Pharma, Godrej Agrovet shares to buy today
Stock market today: India's stock benchmarks began the day on a positive note on Wednesday, driven by better-than-anticipated earnings from the major infrastructure company Larsen & Toubro. The Nifty 50 increased by 0.28% to reach 24,890.4 points, while the BSE Sensex rose by 0.32% to hit 81,594.52 as of 9:15 IST. At the same time, investors are likely to tread carefully in anticipation of the Federal Reserve's policy announcement later today, as well as due to worries regarding a possible India-U.S. trade agreement. On the technical front, Sagar Doshi of Nuvama believes Nifty 50 is yet not out of the woods and currently stands at the retest of head and shoulder breakdown. Doshi recommends three stocks to buy today. Here's what he say about the overall market. Nifty 50 recovered all of its previous day's losses as the initial pattern target of bearish head and shoulder breakdown was seen completing at 24,600. A short covering move was seen ahead of monthly expiry due tomorrow. Nifty 50 is yet not out of the woods and currently stands at the retest of head and shoulder breakdown. Only a close above 25,010 negates any potential down move while another 400 pt downside can commence if Nifty 50 closes below 24,600. Hence, for the balance of this week, we are estimating for a rangebound trade between 24,600 – 25,010. Bank Nifty has been nearing its 5 month rising trendline support at 55,800 odd as the index continues to outperform Nifty 50 since the start of this calendar year. On hourly charts as well, the index gave a break below its rising channel in the start of this week but pulled back in reinstating its underlying strong amongst insides. Trend on Bank Nifty remains positive for a move towards 56,800 / 57,100 unless a close below support of 55,800 is not confirmed on daily charts. On stocks to buy on Wednesday, Sagar Doshi of Nuvama recommended three stocks - Jindal Steel & Power Ltd, Ajanta Pharma Ltd, and Godrej Agrovet Ltd. Countering the broader market trend, stock was up over 4% in last week's trading as it broke out from its 1 year trendline. Currently the price is retesting its 1 year trendline breakout for an up move towards previous all time highs. Stock has broken out from a 10 month falling trendline on daily charts along with this it indicates a breakout from a 6 month consolidation / base formation on weekly charts for atleast a 8-10% upside from CMP. Adding to this, stock has also given a crossover above its 200 DMA in mid-June and has been holding above the same which is a positive sign. Breaking out from its 1 year consolidation, stock has also given a bullish cup and handle pattern breakout on daily and weekly charts. A retest of the breakout has also played out at the start of this week as broader marked cooled off. Stock is now open to hit at least 10% as its initial target on the upside. 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 making any investment decisions.
Mint
13 hours ago
- Business
- Mint
Nifty 50, Sensex today: What to expect from Indian stock market in trade on July 30 ahead of US Fed policy
The Indian stock market benchmark indices, Sensex and Nifty 50, are likely to see a tepid opening on Wednesday, tracking mixed cues from global markets. The trends on Gift Nifty also indicate a muted start for the Indian benchmark index. The Gift Nifty was trading around 24,825 level, a discount of nearly 13 points from the Nifty futures' previous close. On Tuesday, the domestic equity market witnessed fag-end short-covering and ended higher, with the Nifty 50 closing above 24,800 level. The Sensex rallied 446.93 points, or 0.55%, to close at 81,337.95, while the Nifty 50 settled 140.20 points, or 0.57%, higher at 24,821.10. Here's what to expect from Sensex, Nifty 50, and Bank Nifty today: Sesex saw an intraday reversal formation after a long correction, coupled with a bullish candle on the daily charts, indicating a further uptrend from the current levels. 'Technically, the chart reveals a resistance zone between 82,500 and 82,700. The price action remains constrained within this range, and a breakout above resistance could lead to fresh highs. However, if Sensex fails to sustain above 80,400 – 80,500, we may see selling pressure resume. The bullish close and strong intraday recovery signal growing confidence, possibly fueled by earnings optimism and short-term institutional buying,' said Om Ghawalkar, Market Analyst, According to him, if Sensex breaks and holds above 82,000, it could aim for the all-time high of 86,000. On the downside, 80,000 remains critical as it also acts like a psychological support. On the options front, the highest Call open interest (OI) for Nifty is seen at the 25,000 and 25,200 strike prices, highlighting potential resistance. On the Put side, the highest open interest is concentrated at the 24,800 strike, suggesting strong support. Together, the technical setup and derivative data signal a potential upside continuation as long as key support levels are held, said Mandar Bhojane, Senior Technical & Derivative Analyst - Research at Choice Equity Broking. Nifty 50 rebounded after three sessions of decline and ended higher on July 29, forming a bullish 'Engulfing' candlestick pattern on the daily chart. 'Although the rebound provided a temporary pause to the decline, the Nifty 50 continues to trade below the 50-Day SMA (25,050) and the 20-day EMA (25,180), indicating ongoing short-term weakness. The RSI has edged up to 42, recovering modestly from oversold territory, but remains well below its signal line and under the neutral 50 mark. The daily Super trend is capping barriers within the broader trend,' said Om Mehra, Technical Research Analyst, SAMCO Securities. According to him, the immediate resistance is now seen at 25,000, followed by 25,100, which aligns with the short-term moving averages and the median of the recent decline. 'These levels must be crossed decisively to consider any reversal. On the downside, 24,470 remains the key support level; a breakdown below this may extend further weakness,' Mehra said. Om Ghawalkar noted that the rebound in Nifty 50 follows the formation of a three black crows pattern, a well-known bearish continuation signal in technical analysis, which had indicated increasing selling pressure. 'Nifty 50 found strong support in the 24,550 to 24,650 range, where it formed a bullish Marubozu candlestick. This type of candlestick often suggests aggressive buying and indicates that bulls may be re-entering the market with conviction. We can see that a short-term reversal may be in the making, particularly if the Nifty 50 can open and sustain above the 24,850 mark in today's trading session,' said Ghawalkar. A move above this level could signal the start of a renewed uptrend and encourage further participation from traders and investors, he added. VLA Ambala, Co-Founder of Stock Market Today highlighted that the Nifty 50 index found support at the 20-week EMA, however, the outlook for swing trading remains 'sell on rise', as the Nifty's RSI stands at 52 on the weekly timeframe. 'This suggests that any upward spike can be seen as a selling opportunity from a trading perspective. We can expect Nifty 50 to gain support between 24,600 and 24,520, and meet resistance near 24,850 and 25,080 in today's session,' Ambala said. Bank Nifty index ended 137.10 points, or 0.24%, higher at 56,222.00, closing above its 50-day EMA. 'Bank Nifty index formed a bullish engulfing candlestick pattern on the daily chart and managed to close above the 56,200 mark, indicating emerging strength. If the index manages to hold yesterday's low of 55,843, a pullback rally could extend towards 56,700 and 57,300 levels,' said Hrishikesh Yedve, AVP Technical and Derivative Research, Asit C. Mehta Investment Interrmediates Ltd. He advises traders to follow a buy-on-dips strategy in Bank Nifty as long as it holds above 55,843 levels. Sudeep Shah, Head - Technical and Derivatives Research, SBI Securities believes the support zone of 55,800 – 55,700 for Bank Nifty will be crucial to watch, as holding above this band is essential to maintain the current short-term positive bias. 'On the flip side the resistance zone of 56,500 – 56,600 is expected to pose a significant challenge. A decisive and sustainable breakout above the 56,600 level could pave the way for an extended pullback rally with immediate upside targets at 57,000 followed by 57,500 in the near term,' Shah said. 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 making any investment decisions.
Mint
13 hours ago
- Business
- Mint
Stock market today: Trade setup for Nifty 50, Trump tariffs, Q1 results today; Eight stocks to buy or sell on Wednesday
Stock Market Today: The benchmark Nifty-50 index rebounded 0.57% on Tuesday to end at 24,821.10 amidst short covering. Bank Nifty at 56,222.00 gained 0.24%, as most sectors led by Realty, Pharma, Metals, and Oil & Gas were among the gainers. Even mid- and small-caps ended with 0.8-1.0% gains. On the higher side, Nifty may move towards 24,950–25,000. A decisive move above 25,000 could trigger a rally towards 25,200. On the downside, support is placed at 24,750, said Rupak De, Senior Technical Analyst at LKP Securities. For the Bank Nifty, support lies at 56000–55800, while it faces resistance in the 56500–56750 zone, as per analysts. Going ahead, investor focus would shift towards global macros, with US Q2 GDP and the Fed interest rate decision scheduled to be announced tomorrow. On the earnings front, key results on Wednesday include Tata Steel, Interglobe Aviation, Hyundai Motor, PNB, and Power Grid, amongst others. Overall, we expect the markets to witness selective buying, driven by quarterly results, while broader sentiment would hinge on macroeconomic data and progress in the India-US trade deal, said Siddhartha Khemka, Head of Research, Wealth Management, Motilal Oswal Financial Services Ltd. 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: Shankara Building Products Ltd., Krishana Phoschem Ltd., Biocon Ltd , Glenmark Pharmaceuticals Ltd., One 97 Communications Ltd, Lloyds Engineering Works Ltd, Graphite India Ltd., and Ideaforge Technology Ltd. Shankara Building Products Ltd _ Bagadia recommends buying SHANKARA at around ₹ 1132.2 , keeping Stoploss at ₹ 1090 for a target price ₹ 1210 SHANKARA is currently positioned at ₹ 1132. 2 levels witnessed a robust up move in today's session. The stock registered a strong bullish candle on the daily chart, confirming a breakout from a month-long consolidation zone. After trading in a narrow range near 1,000–1,060 for several weeks, today's price action clearly signals a resumption of the prior bullish trend. This breakout strengthens the view of fresh buying interest from institutions or large players. 2. Krishana Phoschem Ltd-Bagadia recommends buying KRISHANA at around ₹ 544, keeping stop loss at ₹ 523 for a target price of ₹ 580 KRISHANA, currently trading at ₹ 544, has shown a reaffirming strong bullish sentiment. Recent price action indicates the stock gradually moved higher, forming higher highs and higher lows—a classic sign of a bullish reversal. The bullish alignment of EMAs confirms that the broader trend remains firmly positive, with the 20-day EMA now acting as immediate dynamic support. Biocon Ltd-Dongre recommends buying Biocon at ₹ 398, keeping stop loss at ₹ 390 for a target price of ₹ 415 Stock has been exhibiting a strong and consistent bullish pattern, indicating sustained investor interest and positive price momentum. The stock is currently trading at ₹ 398 and has established a solid support base at ₹ 390. 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 ₹ 415 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 ₹ 390 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 2. Glenmark Pharmaceuticals Ltd—Dongre recommends buying GLENMARK at around ₹ 2158, keeping Stoploss at ₹ 2130 for a target price of ₹ 2220 Stock has exhibited a strong, notable, continued bullish pattern, offering another promising opportunity for short-term traders. The stock is currently priced at ₹ 2158 and maintaining strong support at ₹ 2130. The technical setup indicates the potential for a price retracement towards the ₹ 2220 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 ₹ 2130 offers a prudent approach to capturing the anticipated upside. 3. One 97 Communications Ltd.—Dongre recommends buying One 97 Communications or PAYTM, at around ₹ 1075 keeping the stop loss at ₹ 1050 for a target price of ₹ 1120 Stock has exhibited a strong, notable, continued bullish pattern, offering another promising opportunity for short-term traders. The stock is currently priced at ₹ 1075 and maintaining strong support at ₹ 1050. The technical setup indicates the potential for a price retracement towards the ₹ 1120 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 ₹ 1050 offers a prudent approach to capturing the anticipated upside. 6. Lloyds Engineering Works Ltd.-Koothupalakkal recommends buying LLOYDS ENGG at around ₹ 73.20 for a target price of ₹ 79, keeping Stop loss at ₹ 71 After the strong pickup from the ₹ 55 zone, the stock has witnessed a short period of correction to take support near the important 50EMA at the ₹ 69 zone and has indicated a bullish candle with decent volume participation to improve the bias, and we can anticipate a further rise in the coming days. The RSI has cooled off significantly from the highly overbought zone and is currently well positioned, indicating a reversal with improving bias, expecting further rise in the coming days. With the chart technically looking attractive, we suggest buying the stock. 7. Graphite India Ltd-Koothupalakkal recommends buying GRAPHITE INDIA at around ₹ 550 for a target price of ₹ 580. keeping Stop loss at ₹ 538 The stock, after correcting to some extent, has taken support near the base of the ascending channel pattern on the daily chart near the 535 level and has indicated a positive candle formation moving past the significant 50EMA at the 548 level to improve the anticipation for further rise in the coming days. The RSI has corrected well and is currently well positioned with improvement visible. With the chart technically looking attractive, we suggest buying the stock . 8. Ideaforge Technology Ltd-Koothupalakkal recommends buying IDEA FORGE at around ₹ 459 for a target price of ₹ 485. keeping Stop loss at ₹ 448 The stock has witnessed a decent erosion from the peak zone of 660 level and has currently arrived near the upper band of the descending channel pattern at the 446 zone with support visible, and with a pullback witnessed, it, it has shown signs of improvement, expecting a further rise in the coming sessions. The RSI has corrected quite significantly and has arrived at the oversold zone with a high probability of a trend reversal, expecting a fresh upward move in the coming days. 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.
Mint
14 hours ago
- Business
- Mint
Buy or sell: Vaishali Parekh recommends three stocks to buy today — 30 July 2025
Buy or sell stocks: The Indian stock market ended its three-day losing streak and closed with gains after Tuesday's stock market session, as benchmark heavyweight stocks like Reliance Industries and HDFC Bank fueled the gains on 29 July 2025. The Nifty 50 index closed 0.57% higher at 24,821.10 points, compared to 24,680.90 points at the previous market close. The BSE Sensex index closed 0.55% higher at 81,337.95 points, compared to 80,891.02 points at the previous stock market session. Vaishali Parekh, Vice President of Technical Research at Prabhudas Lilladher, said the Nifty 50 index witnessed a strong recovery from the 24,600-point zone with steady gains and ended on a quite optimistic note. The index is expected to rise further in the upcoming stock market sessions. Vaishali Parekh recommended three buy-or-sell stocks for Wednesday: HFCL, Rashtriya Chemicals and Fertilizers (RCF), and Navkar Corporation. On the outlook for the Nifty 50 and the Bank Nifty index, Parekh said, 'Nifty witnessed a strong recovery from the 24,600 zone during the intraday session with a steady gain as the day progressed and ended on a quite optimistic note above 24,800 level to expect for further rise in the coming sessions.' 'A decisive close above the 25,000 zone would be important for the index which can boost the sentiment and anticipate for next target of 25,300 level with currently having 24,500 level as the major and crucial support which needs to be sustained, as mentioned earlier,' said the stock market expert. 'Bank Nifty, sustained the 55,900 zone and indicated a small pullback to end above the 56,000 level with bias still maintained intact and once again would need a decent revival to break past the important hurdle at 57,400 zone to trigger for fresh upward move in the coming days. The index would need to sustain the crucial support zone near the 50EMA level at 56,000 zone with the frontline banking stocks like HDFC Bank and ICICI Bank standing firm and their progress shall decide the further directional move of the index in the coming days,' said Parekh. Parekh said that the Nifty 50 Spot for today has support at 24,700 points and resistance at 25,000 points. The Bank Nifty index would have a daily range of 55,700 to 56,800. 1. HFCL Ltd (HFCL): Buy at ₹ 78; Target Price at ₹ 82; Stop Loss at ₹ 76. 2. Rashtriya Chemicals and Fertilizers Ltd (RCF): Buy at ₹ 152; Target Price at ₹ 160; Stop Loss at ₹ 148. 3. Navkar Corporation Ltd (NAVKARCORP): Buy at ₹ 130; Target Price at ₹ 155; Stop Loss at ₹ 126. Read all stories by Anubhav Mukherjee 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.
Mint
a day ago
- Business
- Mint
Shares to buy in short term: Mehta Equities' Riyank suggests Apollo Micro Systems, Eternal, Senores Pharma stock to buy
Stock market today: The Indian stock markets began the day on a low note on Tuesday, influenced by ongoing selling by foreign portfolio investors (FPI) and worries regarding a potential delay in the India-US trade agreement, which could result in a 15 percent tariff. The Nifty 50 index commenced at 24,609.65, falling by 71.25 points or 0.29 percent, while the BSE Sensex started lower at 80,620.25, showing a decline of 270.77 points or 0.33 percent. Market analysts pointed out that Indian equities are presently in an oversold condition, and although a short-term technical recovery could occur, a sustained upward movement is likely to happen only if FPI inflows become positive. From a technical perspective, Riyank Arora of Mehta Equities expressed that if the Nifty 50 does not recover above 24,800, we could experience additional declines in the short term. Arora recommends three stocks to buy in the near-term. Here's what he says about the overall market. The Nifty 50 is trading weak and has slipped below important levels. It is facing selling pressure, and the index can fall further toward 24,450–24,500 if this weakness continues. Market sentiment is negative, and every small bounce is being sold into. Indicators like RSI and momentum are also showing a weak trend. Unless Nifty 50 climbs back above 24,800, we may see more downside in the near term. Traders should follow a sell-on-rise approach and keep strict stop-losses to manage risk in this volatile phase. Bank Nifty is also under pressure after breaking below its key levels. It may slide further toward 55,000 if selling continues. Heavyweights in the banking space are dragging the index lower, and momentum indicators are still pointing to weakness. The index is trading below short-term moving averages, which adds to the negative tone. Any bounce is likely to face selling pressure. Traders are advised to remain cautious and continue with a sell-on-rise strategy while maintaining strict stop-loss levels. Riyank Arora recommends these three stocks in the short term - Apollo Micro Systems Ltd, Eternal Ltd, and Senores Pharma Ltd. Buy | CMP: ₹ 179 | SL: ₹ 170 | Target: ₹ 190 / ₹ 200 Analysis: Apollo Micro share price has broken out above ₹ 175 with strong volumes, which shows renewed buying interest. The stock is trading above key short-term moving averages, and RSI is pointing upwards, suggesting bullish momentum. As long as it holds above ₹ 179, it can move towards ₹ 190 and ₹ 200. Its price pattern of higher highs and higher lows supports the positive view. Traders can consider buying with a stop-loss at ₹ 170 to limit risk while aiming for further upside. Buy | CMP: ₹ 302 | SL: ₹ 290 | Target: ₹ 340 / ₹ 350 Analysis: Eternal share price has bounced strongly from its recent support and crossed ₹ 300 with good volumes. The stock is trading above both its 20-day and 50-day moving averages, showing strength. RSI is also positive, indicating there is room for more gains. If it sustains above ₹ 302, it can reach ₹ 340– ₹ 350 soon. The overall price structure looks healthy, and traders can consider buying with a stop-loss at ₹ 290 for a favorable risk-to-reward trade. Buy | CMP: ₹ 667 | SL: ₹ 600 | Target: ₹ 800 / ₹ 850 Analysis: Senores Pharma share price has given a strong breakout from its consolidation zone with heavy volume. It is trading above key short-term moving averages, which shows strong momentum. RSI is near 68, which is bullish but not overbought. Holding above ₹ 667 can take the stock to ₹ 800– ₹ 850 levels. The chart pattern and strong buying support indicate more upside ahead. Traders can enter at current levels with a stop-loss at ₹ 600 to manage risk. Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decision.
