Latest news with #BenchmarkNifty-50Index
Mint
16-05-2025
- Business
- Mint
Stock market today: Trade setup for Nifty 50 to global markets; Eight stocks to buy or sell on Friday
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. 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.
Mint
13-05-2025
- Business
- Mint
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 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.
