Stock market news: The Indian stock market ended Thursday’s session on a positive note, with the Sensex increasing by 398 points to reach 82,172, while the Nifty 50 climbed 135 points to finish at 25,181. The market’s upward movement was bolstered by strong buying activity in the metal, pharmaceutical, and IT sectors, with metal stocks spearheading the rise due to higher global commodity prices.
Investor confidence was further enhanced by the alleviation of geopolitical tensions following preliminary reports of a ceasefire between Israel and Hamas, as well as positive signals from global markets where the US technology sector experienced significant gains.
Trade Setup for Friday
Rupak De, Senior Technical Analyst at LKP Securities, mentioned that the Nifty 50 climbed higher, disregarding the previous day’s negativity. Nevertheless, the index continued to stay below the resistance level of 25,250. The short-term outlook remains optimistic, with the index holding above the key moving averages on the daily chart. If it moves decisively beyond 25,250, it could trigger an increase towards 25,600 in the near term, while support is positioned at 25,000 on the downside.
Global Markets, IT stocks, Q2 results
Vinod Nair, Head of Research at Geojit Investments, noted that the domestic market experienced gains in response to Q2 results, with the metals indices leading the way due to a rise in base metal prices. The earnings season for Q2FY26 is anticipated to be tepid, particularly in sectors like finance and export-driven industries such as IT and pharmaceuticals. Nonetheless, a significant turnaround is expected in H2FY26, driven by an increase in domestic demand.
Even with subdued earnings expectations, the IT index saw an upward trend as investors found reassurance in appealing valuations, which are currently below historical averages, and a positive long-term outlook that is bolstered by indications of recovery within the US economy.
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: Eternal Ltd, JSW Steel Ltd, Coforge Ltd, Patanjali Foods Ltd, DLF Ltd, Marksans Pharma Ltd, CG Power and Industrial Solutions Ltd, and Inox Wind Ltd.
Sumeet Bagadia’s stock picks
Eternal Ltd: Bagadia recommends buying Eternal share price at ₹345.5 keeping a stoploss at ₹333 with a Eternal share price target of ₹370.
Eternal share price was trading at ₹345.5 and has recently made an all-time high, reflecting strong bullish momentum. On the weekly timeframe, the stock has formed a rounding bottom pattern and given a breakout from the trend line, leading to an all-time high close. The daily chart structure also remains constructive as the stock continues to form higher highs and higher lows, reaffirming the strength of the prevailing uptrend.
In conclusion, based on current technical conditions, Eternal share price offers a strong buying opportunity at the current market price of 345.5, with a stop-loss at ₹333 and an upside target of ₹370, provided sound risk management measures are maintained.
JSW Steel Ltd: Bagadia recommends buying JSW Steel share price at ₹1,175 keeping a stoploss at ₹1,133 with a JSW Steel share price target of ₹1,260.
JSW Steel share price was trading at ₹1,175, the stock is currently displaying a Long-term uptrend, evident from its recent strong rally. The price structure is forming a sequence of higher lows and higher highs in recent sessions and has formed a new all-time high at ₹1,178.8, indicating strong bullish momentum. This bullish structure is supported by rising volumes, confirming the strength behind the price action.
In conclusion, based on current technical conditions, JSW Steel share price offers a strong buying opportunity for short-term traders targeting ₹1,260, provided sound risk management measures are maintained.
Ganesh Dongre’s stocks to buy today
Coforge Ltd: Ganesh Dongre recommends buying Coforge share price at ₹1,720 with a stoploss at ₹1,675 with Coforge share price target of ₹1,800.
Coforge share price has been exhibiting a strong and consistent bullish pattern, indicating sustained investor interest and positive price momentum. Coforge share price was trading at ₹1,720 and has established a solid support base at ₹1,675. 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 ₹1,800 level in the near term. Given the renewed strength and the favourable risk-reward ratio, entering at the current market price with a stop-loss placed at ₹1,675 offers a strategic opportunity to capture the expected upside move. The outlook remains positive as long as the stock holds above its key support zone
Patanjali Foods Ltd: Ganesh Dongre recommends buying Patanjali Foods share price at ₹595 with a stoploss at ₹580 with Patanjali Foods share price target of ₹620.
Patanjali Foods share price has exhibited a strong notable continue bullish pattern, offering another promising opportunity for short-term traders. The stock is currently priced at ₹595 and maintaining a strong support at ₹580. The technical setup indicates the potential for a price retracement towards the ₹620 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 ₹580 offers a prudent approach to capturing the anticipated upside.
DLF Ltd: Ganesh Dongre recommends buying DLF share price at ₹729 with a stoploss at ₹709 with DLF share price target of ₹759.
DLF share price has exhibited a strong notable continue bullish pattern, offering another promising opportunity for short-term traders. The stock is currently priced at ₹729 and maintaining a strong support at ₹709. The technical setup indicates the potential for a price retracement towards the ₹759 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 ₹709 offers a prudent approach to capturing the anticipated upside.
Shiju Koothupalakkal intraday stocks for today
Marksans Pharma Ltd: Shiju Koothupalakkal recommends buying Marksans Pharma share price at ₹169.45 with a Marksans Pharma share price target of ₹182 with a stop loss of ₹166.
Marksans Pharma share price after having witnessed a decent erosion from 270 level has consolidated and taken support near the 162 zone, with currently indicating a positive candle formation accompanied with significant volume participation to improve the bias and can anticipate for further rise in the coming days. The RSI has recovered from the highly oversold zone and with a positive divergence visible has signalled a buy with much upside potential visible to carry on with the positive move further ahead.
“With the chart technically looking attractive, we suggest buying the stock for upside target of 182 keeping the stop loss at 166 level,” said Koothupalakkal.
CG Power and Industrial Solutions Ltd: Shiju Koothupalakkal recommends buying CG Power share price at ₹761 with a CG Power share price target of ₹800 with a stop loss of ₹743.
CG Power share price after a good consolidation period maintaining the support near 735 zone has indicated a bullish candle formation on the daily chart with decent volume participation to improve the bias and can expect for further upward move in the coming sessions. The RSI having corrected quite well from the highly overbought zone, is currently well placed indicating a positive trend reversal to signal a buy and with upside potential visible, 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 800 keeping the stop loss of 743 level,” said Shiju.
Inox Wind Ltd: Shiju Koothupalakkal recommends buying Inox Wind share price at ₹146.99 with a Inox Wind share price target of ₹156 with a stop loss of ₹144.
Inox Wind share price having taken support near the 137 zone has witnessed a short period of consolidation, with currently indicating a strong bullish candle with significant volume participation visible to improve the bias and anticipate for further rise in the coming sessions. The RSI has gained strength with a positive trend reversal and has signalled a buy with upside potential visible.
“With the chart technically looking attractive, we suggest buying the stock for an upside target of 156 keeping the stop loss at the 144 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.