Stock market today: The Indian stock market‘s benchmark indices, Sensex and Nifty, snapped their two-day winning run and ended marginally lower on Monday, as a weak trend in global markets and persistent foreign fund outflows weighed on investor sentiment.
The 30-share pack Sensex dipped 54.30 points, or 0.06%, to 85,213. Meanwhile, its NSE counterpart, the Nifty 50, edged lower by 19.65 points, or 0.08%, to 26,027.30.
USD vs INR
The weakness in the Indian rupee showed no signs of ending, with the unit hitting a fresh low at close. The Indian rupee settled at a fresh low of 90.74, down 25 paise, against the US dollar after falling to its lowest level of 90.80 during intraday deals.
Jateen Trivedi, VP Research Analyst – Commodity and Currency, LKP Securities, said that delays in the India–US trade deal and continued FII selling kept pressure on the currency. “Elevated gold and silver prices have further impacted the import bill, adding to rupee weakness. The currency is likely to trade in a 90.00–91.25 range in the near term,” he noted.
IPOs to watch
The primary market will see the launch of a new public offer by KSH International. The ₹710 crore KSH International IPO will hit Dalal Street today, December 16. The issue, with a price band of ₹365-384 per share, will conclude on December 18.
Moreover, the ICICI Prudential AMC IPO will be open for its third and last day of bidding. The issue was subscribed to 2.11 times as of the second day.
Market outlook and key triggers
Vinod Nair, Head of Researchat Geojit Investments, stated that persistent foreign fund outflows and a weak rupee have kept markets in a narrow range, with currency volatility likely to persist until clarity emerges on the India–US trade deal.
“Expectations of an earnings recovery in H2FY26, supported by monetary and fiscal growth drivers, are helping stabilise sentiment. Going forward, market momentum is expected to be earnings-led rather than valuation-driven. Investors are also awaiting key economic indicators, including U.S. CPI inflation and unemployment data, which will shape global liquidity expectations and the interest rate outlook for 2026,” he added.
Trade Setup for Monday
Rupak De, Senior Technical Analyst at LKP Securities, said that the Nifty 50 index faced resistance near 26,050 before closing slightly lower.
On the hourly chart, the index encountered resistance at the falling trendline, while the hourly RSI has witnessed a bearish crossover and is trending lower, indicating bearishness in the market, De said.
“Overall, the index is likely to remain range-bound between 25,900 and 26,100. A decisive move beyond this range could trigger a directional move,” he added.
Stocks to buy today
Market experts recommended eight intraday stocks. The experts include Sumeet Bagadia (Choice Broking), Ganesh Dongre (Anand Rathi), and Shiju Koothupalakkal (Prabhudas Lilladher).
Recommended eight intraday stocks for today are: Hindustan Zinc, Federal Bank, Hindustan Aeronautics, Bharti Airtel, Marico, Netweb Technologies, Godawari Power and Thomas Cook.
Summet Bagadia’s stocks to buy
Hindustan Zinc: Sumeet Bagadia has a buy call on Hindustan Zinc stock at ₹567, with a stop loss of ₹547 and a target price of ₹607.
“HINDZINC is trading near 567 and remains in a strong bullish trend after breaking out from a prolonged consolidation. The price structure shows a rounded bottom followed by a breakout, indicating steady accumulation. Momentum has improved sharply, with the stock marking a fresh 52-week high near 571.8. The move is supported by strong bullish candles and rising volumes. The stock is trading above the 20-day, 50-day, 100-day, and 200-day EMAs, all of which are sloping upward, confirming trend strength,” said Bagadia.
He believes that a sustained close above the 572 level could lead to further upside, with a near-term target around 607, while traders should continue to monitor price action near the resistance zone for signs of breakout continuation. On the downside, immediate support is located at 555. The Relative Strength Index (RSI) is currently at 77.05 and trending upward, reflecting growing buying momentum, he said, adding that to manage risk effectively, a stop-loss at 547 is suggested to guard against any unexpected market reversals.
Federal Bank: Sharing a buy call on Federal Bank, Bagadia recommended buying at ₹265, with a stop loss of ₹255 and a target price of ₹285.
“The stock has consistently formed higher highs and higher lows, reflecting sustained bullish momentum. It recently reached its all-time high of 266.3. A breakout above this level could further accelerate buying interest. 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,” he said.
If Federal Bank manages to close above its higher level, it could gain further traction toward a short-term target of 285, said Bagadia, adding that traders should monitor price action around this resistance zone for confirmation of a breakout.
On the downside, immediate support is located at 260. The Relative Strength Index (RSI) is currently at 78.5 and trending upward, reflecting growing buying momentum.
Ganesh Dongre’s stock picks
HAL: Ganesh Dongre has a buy call on HAL at ₹4320, with a stop loss at ₹4200 and a target price of ₹4500. He said the stock has been exhibiting a strong and consistent bullish pattern, indicating sustained investor interest and positive price momentum.
“The stock is currently trading at ₹4320 and has established a solid support base at ₹4200. This level has historically acted as a cushion, and the recent price action suggests a reversal from this support, reinforcing bullish sentiment. The technical setup points to the potential for a price retracement toward the ₹4500 level in the near term,” said Dongre,
Given the renewed strength and the favorable risk-reward ratio, entering at the current market price with a stop-loss placed at ₹4200 offers a strategic opportunity to capture the expected upside move, he said, adding that the outlook remains positive as long as the stock holds above its key support zone
Bharti Airtel: Dongre recommends buying Airtel at ₹2070 with a stop loss at ₹2040 and a target price of ₹2125. He said the stock has exhibited a strong and notable continuous bullish pattern, offering another promising opportunity for short-term traders.
“The stock is currently priced at ₹2070 and maintaining a strong support at ₹2040. The technical setup indicates the potential for a price retracement towards the ₹2125 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 2040 offers a prudent approach to capturing the anticipated upside,” he added.
Marico: Dongre also has a buy call on Marico at ₹737 with a stop loss of ₹725 and a target price of ₹750. He said that the stock has exhibited a strong, notable and continuous bullish pattern, offering another promising opportunity for short-term traders.
“The stock is currently priced at ₹ 725 and maintaining a strong support at ₹ 725. The technical setup indicates the potential for a price retracement towards the ₹ 750 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 ₹ 725 offers a prudent approach to capturing the anticipated upside,” he said.
Shiju Koothupalakkal’s stock recommendations
Netweb Technologies: Koothupalakkal has a buy call on Netweb Tech at ₹3330, with a stop loss of ₹3275 and a target price of ₹3500.
“The stock has indicated a strong revival from the important 100 period MA at 3055 zone with a positive bullish candle formation on the daily chart. It has moved past the significant 50EMA level at 3320 zone to improve the bias and can expect further rise in the coming days,” he said.
The RSI has indicated a positive trend reversal to signal a buy and is well positioned, with much upside potential visible to carry on with the positive move further ahead, he added.
Godawari Power: Koothupalakkal recommended buying the stock at ₹247 with a stop loss of ₹242 and a target price of ₹262.
“The stock has indicated a higher bottom formation on the daily chart, forming an ascending channel pattern, with recent support near the 224 zone and indicating a significant pullback to just move past the important 50EMA level at 246 zone. The bias has improved, and one can anticipate for further upward move in the coming sessions,” he said.
The RSI has indicated a strong recovery from the oversold zone to signal a buy with much upside potential visible from current rate, the Prabhudas Lilladher analyst noted.
Thomas Cook: Koothupalakkal has a buy call on Thomas Cook at ₹144, for a target price of ₹154 and a stop loss of ₹141.
“The stock, having witnessed a short period of correction, has stabilised and consolidated near the 138-zone taking support and has indicated a positive candle formation on the daily chart to improve the bias, anticipating further rise in the coming sessions. The RSI has indicated a positive trend reversal from the oversold zone to signal a buy with much upside potential visible,” he said.
Key Takeaways
- Investors should monitor key support and resistance levels for effective trading.
- Understanding technical indicators like RSI can provide insights into stock momentum.
- Market conditions, including currency fluctuations and global trends, can significantly impact stock performance.
Disclaimer: This story is for educational purposes only. The views and recommendations expressed are those of individual analysts or broking firms, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.