Stock Market Today: The benchmark Nifty-50 Index started the week on the positive note, ending 0.6% higher at 25,001.15 on Monday. The Bank Nifty at 55,572.00 ended 0.3% higher with most other sectors led by FMCG, IT and Auto ending higher. The broader indices to gained 0.4-0.6% higher.
In the short term, the Nifty-50 index is likely to remain strong with the potential to extend its gains towards the 25,300–25,350 range. On the lower end, support is visible at 24,800, said Rupak De, Senior Technical Analyst at LKP Securities.
For Bank Nifty Immediate support is placed at 54,800 levels while the short-term support is seen at 54,000-53,500, as per Bajaj Broking
"The U.S. decision to consider extending the deadline for imposing aggressive tariffs on EU, coupled with a decline in the dollar index, contributed to a rebound in the domestic equity markets. These developments suggest that trade negotiations are progressing constructively, which could help moderate market volatility. Additionally, the early onset of the southwest monsoon and a decline in domestic bond yields have encouraged investors to maintain their focus on riskier assets. The broader market outperformed, driven by expectations of increased rural consumption and a stronger Q4 GDP, following better-than-anticipated corporate earnings for the quarter, 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 three stock picks.
These include Prince Pipes and Fittings Ltd, Credo Brands Marketing Ltd , Ashok Leyland Ltd, Bank of Baroda , Bank of India , Mahindra & Mahindra Ltd, Chalet Hotels Ltd and National Fertilizers Ltd
PRINCEPIPE is currently trading at ₹336.80, showing signs of a strong recovery after rebounding from a key support level on the daily chart. The stock has formed bullish candlesticks for four consecutive sessions, indicating sustained upward momentum and a potential long-term reversal. It has gained nearly 42% from its recent low, reflecting increasing bullish sentiment among investors.The rise in trading volumes supports this positive trend, highlighting growing buying interest.
2. Credo Brands Marketing Ltd - Bagadia recommends buying Credo Brands Marketing or MUFTI at around ₹181.81 keeping Stoploss at ₹175 for a target price of ₹195
MUFTI is currently trading at ₹181.81, exhibiting strong upward momentum. The stock has rebounded sharply from lower levels, forming a robust bullish candlestick pattern, which reflects strength in the ongoing uptrend. A recent breakout above the key resistance level of ₹174 further supports the bullish outlook and opens the possibility for additional upside, with a near-term target projected at ₹195, provided the current momentum continues.
3. Ashok Leyland Ltd - Dongre recommends buying Ashok Leyland or ASHOKLEY at around ₹240 keeping Stoploss at ₹235 for a target price of ₹250
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 ₹ 240 and holding above a key support level at ₹ 235. 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 ₹ 235 to manage downside risk. The target for this trade is set at ₹ 250, suggesting a favorable risk-to-reward ratio and a continuation of the prevailing upward trend.
4. Bank of Baroda- Dongre recommends buying Bank of Baroda or BANKBARODA at around ₹240 keeping Stoploss at ₹235 for a target price of ₹250
Stock has exhibited a strong notable continue bullish pattern, offering another promising opportunity for short-term traders. The stock is currently priced at ₹ 240 and maintaining a strong support at ₹ 235. The technical setup indicates the potential for a price retracement towards the ₹ 250 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 ₹ 235 offers a prudent approach to capturing the anticipated upside.
5. Bank of India- Dongre recommends buying Bank of India at around ₹117 keeping Stoploss at ₹112 for a target price of ₹123.
Stock is currently trading at ₹ 117 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 ₹ 112, which also acts as a key stop-loss point for this trade. With bullish cues signaling a possible retracement towards the ₹ 123 target, this setup provides a favorable entry opportunity for traders looking to capitalize on a technical rebound.
6. Mahindra & Mahindra Ltd - recommends buying Mahindra & Mahindra or MAH & MAH at around ₹3080 for a Target price of ₹3200 keeping Stop loss at ₹3030
The stock after a short period of correction has regained strength with a decent pullback witnessed indicating a bullish candle formation on the daily chart to improve the bias and anticipate for further rise in the coming sessions. The RSI has cooled off from the highly overbought zone and is currently well placed indicating a positive trend reversal to signal a buy and has much upside potential to carry on with the positive move further ahead. With the chart technically looking good, we suggest to buy the stock for an upside target of ₹3200 keeping the stop loss of ₹3030 level.
7. Chalet Hotels Ltd - recommends buying Chalet Hotels or CHALET HOTELS at around ₹914 keeping Target price of ₹960 keeping Stop loss at ₹896
The stock has indicated a higher bottom formation pattern on the daily chart taking support near 877 level and with a positive candle formation has improved the bias to expect for further upward move in the coming sessions. With the overall trend on the rise and the RSI also signalling a buy with a positive trend reversal indication, one can expect the stock to rise further. With the chart technically looking good, we suggest buying the stock for an upside target of ₹960 level keeping the stop loss of ₹896 level.
8. National Fertilizers Ltd- recommends buying National Fertilizers or NFL at around ₹99 keeping Target price of ₹107 keeping Stop loss at ₹97
The stock after a steep rise has been in consolidation for quite some time with improving bias and has indicated a positive candle formation to anticipate for further rise in the coming sessions. The RSI has gained significantly with the overall trend maintained positive and has further strength to carry on with the positive move further ahead. With the chart technically well positioned, we suggest buying the stock for an upside target of ₹107 level keeping the stop loss of ₹97 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.
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