9 hours ago
Stock market today: Trade setup for Nifty 50 to global markets; Eight stocks to buy or sell on Monday — 9 June 2025
Stock Market Today: During the week ending 6 June 2025, the benchmark Nifty-50 index managed to end at 25,003.0, up 1.0% week on week , primarily helped by favorable domestic cues. Bank Nifty also gained 1.4% to 56,578.40 levels while Realty, auto and even Metals were among other key gainers though IT in wake of unfavorable global cues was a key loser. The broader markets saw smart gains with mid and small caps rising between 2.8% and 4%.
For the Nifty-50 index the 20-day SMA, around 24,800, will act as a trend decider level and above this level, the bullish formation is likely to continue, with 25,100 serving as the immediate resistance.. A successful breakout above 25,100 could push the market up to 25,400–25,500, and conversely below 24,800 the market may retest the 24,500/80600 level, as per Amol Athawale, VP-technical Research, Kotak Securities.
For Bank Nifty the key support zones are around 56,000 and 55,500, above this the positive momentum could continue towards 57,200–57,700, added Athawale.
Going forward, market participants will focus on key macroeconomic data for further cues. High-frequency indicators such as CPI inflation will be closely tracked to gauge demand trends and the central bank's next steps. Additionally, the progress of the monsoon and sowing patterns will be monitored due to their implications for rural consumption.
On the global front, developments in trade negotiations and movements in U.S. bond yields will continue to influence investor sentiment.
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 three stock picks
These Include Infosys Ltd , ICICI Bank , CESC Ltd , Bajaj Finserv Ltd, Bharat Heavy Electricals Ltd, Poonawalla Fincorp Ltd, Fino Payemts Bank and Bajaj Housing Finance Ltd Infosys Ltd- Bagadia recommends buying Infosys or INFY at around ₹ 1568 keeping Stoploss at ₹ 1515 with a target price of ₹ 1660
INFY is currently trading at 1586, showing signs of stabilization after a sharp decline earlier in the year. The price action over the past few weeks has entered a narrow consolidation band, indicating a phase of base-building. This sideways movement, occurring after a pronounced downtrend, may be laying the groundwork for a potential reversal, though confirmation through stronger price follow-through is still awaited.
2. ICICI Bank Ltd - Bagadia recommends buying ICICIBANK at around ₹ 1460 keeping Stop loss at ₹ 1400 with a target price of ₹ 1575
ICICIBANK is currently trading at 1460 and is showing signs of strength after retesting its all-time high zone. The stock has been consolidating in a narrow range near its lifetime highs, indicating healthy digestion of prior gains and suggesting that market participants are not rushing to book profits. This consolidation near the peak levels generally acts as a continuation pattern, with a potential breakout likely to propel the stock into uncharted territory
3. CESC Ltd - Dongre recommends buying CESC at around ₹ 168 keeping Stoploss at ₹ 160 for a target price at around ₹ 183
Stock has exhibited a strong notable continue bullish pattern, offering another promising opportunity for short-term traders. The stock is currently priced at ₹ 168 and maintaining a strong support at ₹ 160. The technical setup indicates the potential for a price retracement towards the ₹ 183 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 ₹ 160 offers a prudent approach to capturing the anticipated upside.
4. Bajaj Finserv Ltd- Dongre recommends buying BAJAJFINSV at around ₹ 1992 keeping Stoploss at around ₹ 1950 for a target price of ₹ 2100
In the latest short-term technical analysis, stock has shown a strong and consistent bullish trend, indicating the potential for an extended upward move. The stock is currently trading at ₹ 1992 and holding above a key support level at ₹ 1950. 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 ₹ 1950 to manage downside risk. The target for this trade is set at ₹ 2100, suggesting a favorable risk-to-reward ratio and a continuation of the prevailing upward trend.
5. Bharat Heavy Electricals Ltd- Dongre recommends buying Bharat Heavy Electricals or BHEL at around ₹ 255 keeping Stoploss at around ₹ 250 for a target price of ₹ 267
In the latest short-term technical analysis, stock has shown a strong and consistent bullish trend, indicating the potential for an extended upward move. The stock is currently trading at ₹ 255 and holding above a key support level at ₹ 250. 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 ₹ 250 to manage downside risk. The target for this trade is set at ₹ 267, suggesting a favorable risk-to-reward ratio and a continuation of the prevailing upward trend.
6. Poonawalla Fincorp Ltd- Koothupalakkal recommends buying POONAWALLA FINCORP at around ₹ 421 for a target price of ₹ 445keeping Stoploss at around ₹ 410
The stock has indicated a strong bullish candle on the daily chart to give a breakout above the previous peak zone of ₹ 416 level to strengthen the bias and can anticipate for further rise in the coming sessions. The RSI is currently maintained strong and can expect for further positive move in the coming sessions with significant volume participation also visible during the session. With the chart technically well positioned, we suggest buying the stock for an upside target of ₹ 445 level keeping the stop loss of ₹ 410 level.
7. Fino Payments Bank Ltd- recommends buying FINO PAYMENTS BANK at around ₹ 266 for a target price of ₹ 282 keeping Stop loss at ₹ 260
The stock has witnessed a decent pullback from near the important 50EMA at ₹ 246 level and has strengthened the bias with a series of positive candles to expect for further upward move in the coming sessions. The stock has corrected well and has much scope for further upward movement with the chart setup looking good. The RSI has indicated a positive trend reversal to signal a buy and with much upside potential visible, one can anticipate for another fresh round of momentum to carry on with the positive move further ahead.
8. Bajaj Housing Finance Ltd - Koothupalakkal recommends buying Bajaj Housing Finance or BAJAJ HSG FIN at around ₹ 125.66 for a target price of ₹ 135 keeping Stop loss at ₹ 122
The stock has witnessed an overall gradual uptrend after bottoming out near 104 zone and currently after a short period of consolidation has indicated a positive candle formation on the daily chart taking support near the 50EMA level at ₹ 123 zone to anticipate for further rise in the coming sessions. The RSI is well placed and has much upside potential visible from current rate. With the chart looking good, we suggest buying the stock for an upside target of ₹ 135 level keeping the stop loss of ₹ 122 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 making any investment decisions.
