Stock market today: Global markets enter today’s session on a cautious footing following a sharp overnight sell-off in the US. The S&P 500, Nasdaq, and Dow extended their losing streak as investors booked profits in high-valuation technology and AI stocks. Renewed scepticism around AI capex returns, reports of funding pullbacks in data-centre investments, and a visible rotation toward defensive sectors have reinforced a risk-off tone. Investor sentiment also remains cautious ahead of the release of US consumer price inflation data, with divided views in the market over the future trajectory of monetary policy, prompting participants to stay defensive and avoid aggressive positioning.
Asian markets opened on a weak note, mirroring the subdued tone on Wall Street after several sessions of sustained selling. This pressure is likely to spill over into Indian equities at the open. That said, the selling seen so far does not reflect panic; instead, it appears to be a valuation-led reset following a strong rally, rather than any indication of a structural breakdown.
Stock market today
Speaking on the outlook of the Nifty 50 index, Ponmudi R, CEO of Enrich Money, said, “The Nifty 50 continues to trade within a rising channel structure. The 25,800–25,700 zone remains a critical near-term support and a decision-making area. As long as this base holds, the broader uptrend stays intact despite near-term volatility and global weakness. However, if selling intensifies, especially through long unwinding, a deeper corrective move toward the 25,500–25,400 zone cannot be ruled out. On the upside, the 25,950–26,000 zone remains a supply area where rallies are likely to face resistance until global sentiment stabilises.”
On the outlook of the Bank Nifty index, Ponmudi R of Enrich Money said, “The Bank Nifty Index is consolidating after a strong up-move, with 58,800 emerging as an important support floor. Holding above this level maintains a constructive structure and signals a healthy digestion of gains. A sustained move above 59,000–59,100 would indicate renewed strength and continuation of the uptrend. However, a decisive break below 58,800 could trigger further consolidation toward the 58,500–58,250 zone, driven by long unwinding rather than aggressive short build-up.”
USD vs INR
Asked about the outlook of the Indian National Rupee (INR) against the US Dollar (USD), Jateen Trivedi, VP Research Analyst – Commodity and Currency, LKP Securities, said, “The rupee rebounded sharply from near 91.00 to around 90.35, likely aided by intervention, snapping a multi-day losing streak. However, the sustainability of this recovery remains uncertain, as clarity on the India–US trade deal is still awaited, and FII selling continues. Volatility is expected to persist, with the rupee likely to trade in the 89.80–90.80 range.”
Stocks to buy today
Regarding stocks to buy today, stock market experts — Sumeet Bagadia, Executive Director at Choice Broking; Ganesh Dongre, Senior Manager of Technical Research at Anand Rathi; and Shiju Kuthupalakkal, Senior Manager of Technical Research at Prabhudas Lilladher, recommended these eight intraday stocks for today: Shriram Finance, Canara Bank, IndusInd Bank, Punhab National Bank (PNB), Tech Mahindra, Bank of Baroda, Suprajit Engineering, and Jyothy Labs.
Sumeet Bagadia’s stock recommendations today
1] Shriram Finance: Buy at ₹864, Target ₹924, Stop Loss ₹834.
Shriram Finance’s share is currently trading at ₹864 and maintaining a strong upward trajectory. The stock has been forming a series of higher highs and higher lows, indicating sustained bullish momentum. The recent price action suggests a breakout attempt from a broad range-bound structure, resembling a horizontal channel that has been tested multiple times. This breakout is further validated by the stock marking a fresh All-time high of 875.45, supported by consistent volume activity. The price action remains well above key exponential moving averages, indicating strong alignment across short- and long-term trends. Immediate resistance is seen near its higher levels, and a breakout above this level could pave the way for a short-term target of ₹924.
On the downside, immediate support lies around 845. The Relative Strength Index (RSI) is currently at 64.45 and trending higher, suggesting strengthening buying interest. For effective risk management, a stop-loss near ₹834 is advisable to safeguard against any potential market pullbacks.
In conclusion, Shriram Finance shares exhibit a favourable technical setup and present a compelling buying opportunity, particularly for traders targeting ₹924, as long as disciplined risk controls are maintained.
2] Canara Bank: Buy at ₹150, Target ₹160, Stop Loss ₹145.
Canara Bank share is currently trading at ₹150; the stock is firmly placed in a strong bullish trend, marked by a sharp upward move followed by a brief consolidation near its recent highs. After retesting its all-time high zone, the price action has formed a classic pole and flag pattern, indicating healthy consolidation after a strong rally. This structure suggests continuation of the prevailing uptrend rather than distribution. The overall price setup remains constructive, with higher highs and higher lows intact and 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 CANBK manages to close above its higher level, it could gain further traction toward a short-term target of ₹160. Traders should monitor price action around this resistance zone to confirm a breakout.
On the downside, immediate support is located at ₹148. The Relative Strength Index (RSI) is currently at 60.11 and trending upward, reflecting growing buying momentum. To manage risk effectively, a stop-loss at 145 is suggested to guard against any unexpected market reversals.
In conclusion, based on the technical analysis and current market conditions, Canara Bank share presents a promising buying opportunity for those aiming for a ₹160 target, provided that appropriate risk management strategies are in place.
Ganesh Dongre’s shares to buy today
3] IndusInd Bank: Buy at ₹830, Target ₹870, Stop Loss ₹810.
The technical pattern of IndusInd Bank shares suggests a temporary retracement in the stock’s price, potentially reaching around ₹870. At present, the stock is maintaining a crucial support level at ₹810. Given the current market price of ₹830, a buying opportunity is emerging. This suggests that investors consider purchasing the stock at its current price, anticipating a rise towards the identified target of ₹870.
4] PNB: Buy at ₹119, Target ₹125, Stop Loss ₹114.
We have seen significant support in this stock around ₹114. At the current juncture, the stock has again formed a reversal price action at the ₹119 price level, which may continue its rally until it reaches its next resistance level of ₹125. Therefore, traders can buy and hold this stock with a stop-loss of ₹114, aiming for a target price of ₹125, in the upcoming weeks.
5] Tech Mahindra: Buy at ₹1580, Target ₹1625, Stop Loss ₹1560.
Tech Mahindra’s share has exhibited a strong, notable, and continuous bullish pattern, offering another promising opportunity for short-term traders. The stock is currently priced at ₹1,580 and maintaining a strong support level at ₹1,560. The technical setup suggests a potential price retracement towards the ₹1625 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 ₹1560 offers a prudent approach to capturing the anticipated upside.
Shiju Kuthupalakkal’s intraday stocks for today
6] Bank of Baroda: Buy at ₹287.60, Target ₹305, Stop Loss ₹280.
The stock, after a short period of gradual correction, has indicated a positive candle with significant volume participation, which improves the bias and can be expected to rise further in the coming sessions. The RSI is well-placed and indicates a buy signal, with upside potential visible to carry the positive move further ahead. With the chart technically looking good, we suggest buying the stock with an upside target of ₹305, while keeping the stop-loss at the ₹280 level.
7] Suprajit Engineering: Buy at ₹469.50, Target ₹495, Stop Loss ₹458.
The stock has picked up well since the last two sessions, moving above the important 200-period MA at the ₹438 level, with volume participation rising to improve the bias. This can lead to further upward movement in the coming sessions. The RSI has indicated improvement, signalling a buy with much upside potential visible from the current rate. With the chart technically looking good and attractive, we suggest buying the stock with an upside target of ₹495, while keeping the stop loss at the ₹458 level.
8] Jyothy Labs: Buy at ₹287.50, Target ₹307, Stop Loss ₹281.
The stock has witnessed a decent correction with currently indicating a significant pullback with currently having a positive candle formation on the daily chart after stabilizing near the ₹282 zone to improve the bias anticipating for 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. With the chart technically looking good and attractive, we suggest buying the stock for an upside target of ₹307 keeping the stop loss of ₹281 level.
Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.