The Indian stock market recovered on Thursday, as the benchmark Nifty 50 index rose 0.45% to close at 23,591.95. Bank Nifty also recorded strong momentum, increasing 0.72% to close at 51,575.85. Sectors such as Realty and Oil & Gas were in the lead, while Auto and Pharma stocks lagged behind.
Trade Setup for Friday
Market analysts recommend that the Nifty 50 may test crucial resistance at 23,850 levels in the near future, with the immediate support at 23,400. "Traders should watch these levels for breakouts or pullbacks," says Nagaraj Shetti, Senior Technical Research Analyst, HDFC Securities.
For Bank Nifty, Bajaj Broking's analysts expect that the index will hold at above its recent breakout point of 50,500, with an upside target of 53,000 in the next few weeks.
Global Market Trends
Uptrend in the market is still led by banking and financial stocks and rotational buying in the heavyweight stocks. Global uncertainties like US tariff updates, however, are triggering intermittent volatility. Ajit Mishra, Religare Broking SVP of Research, suggests that the traders pay attention to selective stock opportunities instead of responding to near-term market volatility.
Stocks to Buy or Sell Today
Market analysts have suggested the following eight stocks to investors to look into:
1. Sumeet Bagadia's Stock Suggestions (Choice Broking)
Mankind Pharma Ltd – Buy at ₹2,452.15, with target of ₹2,623 and stop-loss of ₹2,366.
Fortis Healthcare Ltd – Buy at ₹671.80, with target of ₹719 and stop-loss of ₹648.
2. Ganesh Dongre's Stock Suggestions (Anand Rathi)
Container Corporation of India (CONCOR) – Buy at ₹702, with target of ₹725 and stop-loss of ₹685.
Linde India Ltd – Buy at ₹6,180, target ₹6,350 and stop-loss at ₹6,080.
Tata Consumer Products Ltd – Buy at ₹975, target ₹1,000 and stop-loss at ₹955.
3. Shiju Koothupalakkal's Stock Picks (Prabhudas Lilladher)
NTPC Green Energy Ltd – Buy at ₹103, target ₹110 and stop-loss at ₹101.
Canara Bank – Buy at ₹89.65, target ₹94 and stop-loss at ₹87.50.
TVS Motor Company Ltd – Buy at ₹2,455 with target of ₹2,570 and stop-loss at ₹2,400.
Market Outlook
The market is in a phase of consolidation and hence caution and buying fundamentally sound stocks are suggested. Volatility cannot be avoided but technical indications hint that select stocks may yield good trading opportunity in the near term.
Disclaimer: The opinions and suggestions in this article are those of individual analysts. Investors should seek the advice of certified financial advisors before making any investment.
