Stock market news: On Thursday, the Indian markets ended the day with slight gains. The Nifty 50 closed at 25,879.15, rising by 3.35 points (0.01%), while the Sensex finished at 84,478.67, up by 12.16 points (0.01%) compared to the previous close. Both indices fluctuated within a narrow band and bounced back from initial declines, as investors remained cautiously optimistic due to low inflation figures and mixed signals from global markets.
Abhinav Tiwari, a Research Analyst at Bonanza, noted that the drop was primarily influenced by ongoing food price deflation, a robust base effect, and decreases in essential goods prices. This trend is fueling increased expectations of a rate cut during the forthcoming RBI policy meeting.
Overall, the markets traded within a narrow range with a balanced breadth, reflecting a wait-and-see approach as investors anticipate upcoming global economic data, the US-India trade agreement, the Bihar Elections, and the RBI policy meeting, according to Tiwari.
Trade Setup for Friday
Rupak De, a Senior Technical Analyst at LKP Securities, noted that the Nifty 50 experienced fluctuations in anticipation of the Bihar election outcomes. Nonetheless, the technical configuration remains sound, with the index holding above the 21EMA comfortably. The RSI has shown a positive crossover with a value exceeding 60, suggesting robust price momentum. Continued volatility is anticipated tomorrow.
“From a technical perspective, immediate resistance is identified at 26,000; a definitive breach above this level could initiate a rally towards 26,200/26,350. Conversely, immediate support is established at 25,800, and if the index falls below this point, the ongoing rally may lose momentum,” said De.
Global Markets, Q2 results, Bihar election, India-US trade deal to IPO Frenzy
Vinod Nair, who leads research at Geojit Investments Ltd, mentioned that national equities ended the day flat after an earlier positive performance, as profit-taking wiped out initial gains despite favorable global and domestic indicators. Market sentiment improved following Trump’s signing of a short-term funding measure to resolve the US government shutdown and hopes for tariff relief for India.
“The historically low inflation figures for October bolstered expectations for a rate cut from the RBI, making sectors sensitive to interest rates, such as metals and real estate, appealing to investors. However, amidst ongoing foreign institutional investor outflows and a weakening rupee, profit-taking surfaced at high levels ahead of the Bihar election results, resulting in the benchmark indices remaining mostly unchanged by the end of the trading day,” said Nair.
Stocks to buy today
Regarding stocks to buy today, market experts—Sumeet Bagadia, Executive Director at Choice Broking; Ganesh Dongre, Senior Manager of Technical Research at Anand Rathi and Shiju Koothupalakkal, Senior Manager of Technical Research at Prabhudas Lilladher, recommended these eight intraday stocks for today: AAVAS Financiers Ltd, Vedanta Ltd, NTPC Ltd, Bharat Electronics Ltd (BEL), Maruti Suzuki India Ltd, Tourism Finance Corporation of India Ltd, Black Box Ltd, and Strides Pharma Science Ltd.
Sumeet Bagadia’s stock picks
AAVAS Financiers Ltd: Bagadia recommends buying AAVAS Financiers share price at ₹1,736 keeping a stoploss at ₹1,675 with a AAVAS Financiers share price target of ₹1,858.
Sumeet Bagadia said that AAVAS Financiers was trading at 1,736, showing a strong breakout from its recent consolidation phase with robust volumes, indicating renewed participation and strong buying interest that continues to drive momentum. The stock is positioned well above its 20-, 50-, 100-, and 200-day EMAs, all of which are trending upward, confirming sustained strength across multiple timeframes and reflecting solid underlying demand. With this favourable technical setup, immediate resistance is seen near ₹1,771, and a breakout above this level could lead to a short-term target of ₹1,858.
“In conclusion, based on the technical analysis and current market conditions, AAVAS presents a promising buying opportunity for those aiming for a ₹1,858 target, provided that appropriate risk management strategies are in place,” said Sumeet Bagadia.
Vedanta Ltd: Bagadia recommends buying Vedanta share price at ₹530 keeping a stoploss at ₹511 with a Vedanta share price target of ₹568.
Sumeet Bagadia said that Vedanta share price was trading at 530, maintaining a strong upward trajectory. The stock has consistently formed higher highs and higher lows, reflecting sustained bullish momentum. It recently reached its all-time high of 535.5. A breakout above this level could further accelerate buying interest.
According to Bagadia, the Exponential Moving Averages (EMAs) for the 20, 50, 100, and 200-day periods are all trending upwards, reinforcing the bullish outlook. The price is trading above all major EMAs, indicating strong positive sentiment and continued strength in the stock. If Vedanta manages to close above its higher level, it could gain further traction toward a short-term target of 568. Traders should monitor price action around this resistance zone for confirmation of a breakout.
“In conclusion, based on the technical analysis and current market conditions, Vedanta share price presents a promising buying opportunity for those aiming for a 568 target, provided that appropriate risk management strategies are in place,” said Bagadia.
Ganesh Dongre’s stocks to buy today
NTPC Ltd: Ganesh Dongre recommends buying NTPC share price at ₹326 with a stoploss at ₹316 with NTPC share price target of ₹342.
Ganesh Dongre said that 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 ₹342. At present, the stock is maintaining a crucial support level at ₹316.
“Given the current market price of ₹326, 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 ₹342,” said Dongre.
Bharat Electronics Ltd (BEL): Ganesh Dongre recommends buying BEL share price at ₹419 with a stoploss at ₹408 with BEL share price target of ₹435.
Ganesh Dongre said that we have seen a major support in this stock around Rs.408 So, at the current juncture, the stock has again seen a reversal price action formation at the ₹419 price level, which may continue its rally till its next resistance level of ₹435 so traders can buy and hold this stock with a stop loss of ₹408 for the target price of ₹435 in the upcoming weeks.
Maruti Suzuki India Ltd: Ganesh Dongre recommends buying Maruti Suzuki share price at ₹16,750 with a stoploss at ₹16,400 with Maruti Suzuki share price target of ₹17,100.
Ganesh Dongre said that in the recent short-term trend analysis of the stock, a notable bullish reversal pattern has emerged. This technical pattern suggests that there could be a temporary retracement in the stock’s price, possibly to around ₹17,100. Currently, the stock is holding a crucial support level at ₹16,400.
Dongre explained that given this scenario, there is potential for the stock to rebound towards the ₹17,100 level in the near future. Traders are advised to consider taking a long position, with a strategic stop loss set at ₹16,400 to manage risk effectively. The target price for this trade is ₹17,100, reflecting the anticipated upward movement based on the identified technical.
Shiju Koothupalakkal intraday stocks for today
Tourism Finance Corporation of India Ltd: Shiju Koothupalakkal recommends buying Tourism Finance share price at ₹69.30 with a Tourism Finance share price target of ₹75 with a stop loss of ₹67.50.
Shiju Koothupalakkal said that Tourism Finance has been in consolidation for quite some time maintaining the support near 68 zone with bias improving and the volume participation on the rise, anticipating for further rise in the coming days with the chart set up technically looking good.
“The RSI has corrected quite significantly from the overbought zone and is in consolidation with improvement visible indicating a positive trend reversal visible and can carry on with the positive move further ahead. With the chart technically looking good, we suggest buying the stock for an upside target of 75 keeping the stop loss of 67.50 level,” said Koothupalakkal.
Black Box Ltd: Shiju Koothupalakkal recommends buying Black Box share price at ₹565 with a Black Box share price target of ₹600 with a stop loss of ₹553.
Shiju Koothupalakkal said that the stock after the short period of consolidation maintaining above the important 50EMA at 528 level has currently indicated a positive candle formation with significant volume participation to improve the bias anticipating for further upward move in the coming sessions.
“The RSI is currently well positioned and with strength indicated, has much upside potential to carry on with the positive move. With the chart technically looking good, we suggest buying the stock for an upside target of 600 keeping the stop loss of 553 level,” said Koothupalakkal.
Strides Pharma Science Ltd: Shiju Koothupalakkal recommends buying Strides Pharma share price at ₹973.95 with a Strides Pharma share price target of ₹1,040 with a stop loss of ₹950.
Shiju Koothupalakkal said that the stock has indicated a strong spurt recently improving the trend and currently with the bias maintained positive and after a short period of breather has once again, indicated a positive candle formation with significant volume participation visible on the daily chart to anticipate for further rise in the coming sessions.
“The RSI is maintained strong and after cooling off from the highly overbought zone is currently well placed to signal a buy and expect for further gains in the coming days. With the chart technically looking good, we suggest buying the stock for an upside target of 1,040 keeping the stop loss of 950 level,” said Koothupalakkal.
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.