Nifty 50 Outlook: Will the Pullback Sustain?
The Nifty 50 index ended its eight-session losing run,
rising 0.13% to 22,959.50 on Monday. The S&P BSE Sensex also rose 0.08% to
75,996.86, while Bank Nifty rose 0.32% to 49,258.90.
As per market experts, as long as Nifty 50 stays above
22,800, the pullback formation will go on. The index may advance to 23,000 and
then to 23,075. But if Nifty declines below 22,800, market sentiment might
deteriorate, pulling the index down to 22,725–22,650, believes Shrikant
Chouhan, Head of Equity Research, Kotak Securities.
For Bank Nifty, major resistance is at 49,315 (21-DSMA). If
the index stays above this, it can head towards 49,650–49,750. But solid
support is at 48,500, Asit C. Mehta suggests.
Global Market Trends
Global factors continue to be important for the direction of the market. Analysts observe that:
Modest Q3 FY25 earnings growth and sustained FII selling may
cap a strong bounce back.
A depreciating rupee and expanding trade deficit further
heighten investor anxiety.
However, easing US trade uncertainties and early signs of recovery in discretionary spending may support a rebound, says Vinod Nair, Head of Research at Geojit Financial Services.
Top 8 Stock Picks for Today
Sumeet Bagadia's Recommendations (Choice Broking):
1. Vishnu Chemicals Ltd – Buy at ₹474.45
| Target: ₹510 | Stop Loss: ₹460
Strong bullish momentum with a recent uptrend from support
levels. The stock has been seeing consistent buying interest.
2. Sarda Energy & Minerals Ltd –
Buy at ₹480.65 | Target: ₹515 | Stop Loss: ₹465
On a solid uptrend with steady higher highs and volume support, nearing an all-time high of ₹525.
Ganesh Dongre's Stock Picks (Anand Rathi):
3. Bajaj Finance Ltd – Buy at ₹8,427
| Target: ₹8,600 | Stop Loss: ₹8,250
A bullish reversal pattern indicates potential upside, with
major support at ₹8,250.
4 IndusInd Bank Ltd – Buy at ₹1,048
| Target: ₹1,070 | Stop Loss: ₹1,028
Good support at ₹1,028 with a bullish price action setup.
5 CG Power & Industrial
Solutions Ltd – Buy at ₹583 | Target: ₹610 | Stop Loss: ₹565
Bullish reversal with potential move towards ₹610 in the
short term.
Shiju Koothupalakkal's Recommendations (Prabhudas
Lilladher):
6 Maruti Suzuki India Ltd – Buy at
₹12,760 | Target: ₹13,200 | Stop Loss: ₹12,500
Trend reversal in the positive direction with RSI showing strength. The daily chart is witnessing higher bottom formations.
7 Havells India Ltd – Buy at ₹1,532
| Target: ₹1,605 | Stop Loss: ₹1,500
Stock is close to the bottom of a falling channel, reflecting
a reversal with a bettering trend.
8. Aditya Birla Real Estate Ltd –
Buy at ₹2,110 | Target: ₹2,220 | Stop Loss: ₹2,070
Creating higher lows and displaying positive reversal
signals.
Final Thoughts
Although Nifty 50 has displayed signs of improvement, global market sentiment, FII movement, and important support levels will decide the next direction. Traders need to monitor 22,800 as an important support level, while the movement of Bank Nifty above 49,315 may indicate a further increase.
Disclaimer: The following stock tips are by analysts
and are not the views of this publication. Please seek advice from a certified
financial advisor before investing.
