Stock market today: Trade setup for Nifty 50, gold to Russia-Ukraine war; 5 stocks to buy or sell on Tuesday — Nov 26

Stock Market Today: The Maharashtra Assembly Election results lifted the Indian stock market sentiment on Monday as the benchmark Nifty 50 index and S&P BSE Sensex, with gains of 1.32% and 1.25%, ended a 24,221.90 and 80,109.85, respectively. With gains of 2.10%, Nifty Bank ended at 52,207.50, while Realty Oil & Gas contributed to the rally as most sectors ended positively. Broader markets also gained 1-5-2%, supporting the rally

Trade Setup for Tuesday

Nifty gaining more than 1000 points in 2 sessions indicates a strong pullback from the lows near 23260 zone, improving the bias and sentiment significantly with 24500 zone acting as the important barrier waiting to be breached decisively to ensure further rise in the coming days said The immediate support is at 23800 to be sustained as per Vaishali Parekh Vice President - Technical Research - Prabhudas Lilladher

Nifty Bank faces resistance around 52,600, which, if surpassed, could pave the way for further upward movement. The support range remains slightly wider, at around 51,270, said Om Mehra, Technical Analyst, SAMCO Securities

Russia-Ukraine war, Adani in focus

A decisive NDA alliance victory in a big state like Maharashtra is sentimentally positive for the stock market. Also, Lok Sabha elections just got over, and the current central government has another full term to complete, so once state elections are over, markets' focus will shift back to earnings, budget, US policies, and geopolitics, said Manish Jain, director of the institutional business (equity & fii) division at Mirae asset capital markets.

Sustained inflation print, FPI outflows, strong dollar and tariff threats could sour the market mood. Adani issues won’t be able to affect general market mood for a sustained period, added Jain.

Gold rate today

“After the ease in the Russia-Ukraine war as Israel has said it's moving closer to Lebanon ceasefire, gold prices are expected to come under pressure while other assets like global equities may witness strong buying on Tuesday. So, those ease in the Russia-Ukraine tension is expected to pull down gold prices further and push Indian stock market,” said Anuj Gupta, Head — Commodity & Currency at HDFC Securities.

Anuj Gupta of HDFC Securities said that MCX gold rate may trade in ₹72,000 to ₹78,500 per 10 gm range.

Stocks to buy today

Sumeet Bagadia, Executive Director at Choice Broking, has recommended two stock picks for today. Ganesh Dongre, Senior Manager of Technical Research at Anand Rathi has suggested three stock ideas.

These Include Federal Bank Ltd, DOMS Industries Ltd, CIPLA Ltd, Petronet LNG Ltd and Container Corporation of India Ltd (CONCOR)

Sumeet Bagadia's stocks to buy today

1. Federal Bank Ltd- Bagadia recommends buying Federal Bank at ₹212.88 keeping Stoploss at ₹205 with a target price of ₹225

 Federal Bank is exhibiting strong bullish momentum, currently trading at an all-time high of 213.5 levels. The chart depicts a healthy uptrend backed by improving sentiment. The stock has maintained a strong upward momentum, as highlighted by the series of higher highs and higher lows. Recently, the price has approached ₹212.88, riding the wave of bullish strength. supported by robust trading volumes, reinforcing the strength in the stock.

2. DOMS Industries Ltd- Bagadia recommends buying DOMS Industries at ₹3069 keeping Stoploss at ₹2950 for a target price of ₹3250

DOMS Industries is currently trading at ₹3069. After a period of small falls and sideways consolidation, the stock has lately broken the neckline levels of ₹2929 and is rising quickly on the upside with substantial volume... There are expectations of further upward movement, potentially reaching ₹3250 levels. On the downside, substantial support is evident near ₹2950.

Ganesh Dongre's stocks to buy today

3. Cipla Ltd - Dongre recommends buying CIPLA at ₹1507 keeping Stoploss ₹1480 Target ₹1545.

In the recent short-term trend analysis of the stock, a notable bullish reversal pattern has emerged. This technical pattern suggests the possibility of a temporary retracement in the stock's price, potentially reaching around ₹1545. At present, the stock is maintaining a crucial support level at Rs.1480. Given the current market price of Rs.1507 a buying opportunity is emerging. This suggests that investors might consider purchasing the stock at its current price, anticipating a rise towards the identified target of ₹1545.

4. Petronet LNG Ltd- Dongre recommends buying Petronet LNG at ₹334 keeping Stoploss   ₹324 with a target ₹345

In the recent short-term trend analysis of the stock, a notable bullish reversal pattern has emerged. This technical pattern suggests the possibility of a temporary retracement in the stock's price, potentially reaching around Rs.345. At present, the stock is maintaining a crucial support level at Rs.324. Given the current market price of Rs.334, a buying opportunity is emerging. This suggests that investors might consider purchasing the stock at its current price, anticipating a rise towards the identified target of Rs.345

5. Container Corporation of India Ltd (CONCOR)- Dongre recommends buying CONCOR at ₹807, keeping Stoploss at ₹795 for a target price of ₹845.

A notable bullish reversal pattern has emerged in the stock's recent short-term trend analysis. This technical pattern suggests the possibility of a temporary retracement in the stock's price, potentially reaching around ₹845. The stock is currently maintaining a crucial support level at ₹795. A buying opportunity is emerging given the current market price of ₹807. This suggests that investors might consider purchasing the stock at its current price, anticipating a rise towards the identified target of ₹ 845.

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.