Stock market today:Trade setup for Nifty 50, Trump tariff pressure to upcoming RBI rate decision;8 stocks to buy or sell
Stock market news: The domestic benchmark indices, Sensex and Nifty 50 ended slightly lower in a volatile trading session on Monday, marking their seventh consecutive day of decline as bank stocks were pressured by ongoing foreign fund outflows in anticipation of the RBI’s interest rate decision later this week.
After fluctuating between gains and losses in limited trade, the 30-share BSE Sensex fell by 61.52 points or 0.08 percent to close at 80,364.94. Throughout the day, it reached a high of 80,851.38 and a low of 80,248.84.
For the seventh straight session, Nifty 50 decreased by 19.80 points or 0.08% to 24,634.90. The Nifty 50 has experienced a decline of over 3% during these seven consecutive sessions due to selling by foreign investors.
Trade Setup for Tuesday
Vatsal Bhuva, a Technical Analyst at LKP Securities, noted that on Monday, the Nifty 50 experienced a slight uptick but encountered selling pressure near the 20-EMA on the hourly chart, ultimately closing the day weakly on the daily chart. Derivative data indicated put writing at the 24,600 and 24,500 strikes, marking immediate support levels, while call writers at 24,700 and 24,800 signaled resistance.
Considering these technical and derivative insights, the index is expected to fluctuate within a short-term range of 24,500 to 24,850, accompanied by volatility and a sideways-to-bearish sentiment. A sustained move above the 50-day EMA is required to shift towards a bullish stance.
Global Markets, Trump tariffs pressures, and US-India trade deal
Vinod Nair, Head of Research at Geojit Investments Limited, noted that the domestic market ended a volatile session on a stable note as investors became more cautious due to a holiday-shortened week and ongoing selling by FIIs.
The uncertainty surrounding the US-India trade agreement and persistent pressure on the IT and pharma sectors are immediate concerns for the market. Investors are looking forward to the RBI’s policy decision this week; the central bank is likely to maintain the current interest rates to reduce volatility in the rupee. Supportive fiscal measures and an optimistic demand forecast for H2FY26 might prompt the central bank to revise its FY26 GDP growth prediction upward, according to 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: Usha Martin Ltd, Indian Bank, State Bank of India (SBI), PNB Housing Finance Ltd, Aurobindo Pharma Ltd, Waaree Energies Ltd, CG Power and Industrial Solutions Ltd, and Mangalore Chemicals & Fertilizers Ltd.
Sumeet Bagadia’s stock picks
Usha Martin Ltd: Bagadia recommends buying Usha Martin share price at ₹476.45 keeping a stoploss at ₹450 with a Usha Martin share price target of ₹530.
Usha Martin share price was trading at 476.45, hovering near its all-time high of 481.9 after giving a breakout from a rounding bottom pattern. This bullish formation, developed over several months of accumulation, signals a shift in sentiment and marks the beginning of a potential long-term uptrend. The breakout is accompanied by a noticeable rise in volume, indicating strong market participation and fresh buying interest.
In conclusion, based on the technical analysis and current market conditions, Usha Martin share price presents a promising buying opportunity for those aiming for a 530 target, provided that appropriate risk management strategies are in place.
Indian Bank: Bagadia recommends buying Indian Bank share price at ₹724.6 keeping a stoploss at ₹700 with a Indian Bank share price target of ₹774.
Indian Bank share price was trading at 724.6, 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 727.95, 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, Indian Bank share price offers a strong buying opportunity for short-term traders targeting 774, provided sound risk management measures are maintained.
Ganesh Dongre’s stocks to buy today
State Bank of India (SBI): Ganesh Dongre recommends buying SBI share price at ₹861 with a stoploss at ₹850 with SBI share price target of ₹885.
A short-term trend analysis of the stock reveals encouraging technical signals that suggest a potential bullish reversal. On the short term chart, a prominent bullish engulfing candlestick pattern has emerged, signaling a shift in momentum from selling pressure to buying interest. Adding strength to this view, the Relative Strength Index (RSI) has recently entered the oversold zone, indicating that the stock may be poised for a rebound from current levels. This confluence of technical indicators increases the likelihood of a near-term price retracement.
SBI share price was trading at ₹1,384, while holding above a key support zone at Rs.850, which has proven to be a strong demand level. Based on the current setup, a move towards the next resistance level at ₹885 appears likely.
With a favourable risk-reward profile, buying at current levels may be considered, keeping ₹850 as a crucial support and ₹885 as the potential short-term target.
PNB Housing Finance Ltd: Ganesh Dongre recommends buying PNB Housing share price at ₹870 with a stoploss at ₹845 with PNB Housing share price target of ₹900.
In the recent short-term trend analysis, the stock has shown signs of a potential bullish retracement, supported by emerging technical indicators. A reversal pattern on the chart suggests the possibility of an upward move, with a near-term target around ₹900
PNB Housing share price was trading at ₹845, having established a strong support base at ₹845. This level has held firm in recent sessions, underscoring its importance as a key demand zone.
Given the favourable price structure and proximity to support, a buying opportunity is developing at current levels. Traders and investors may consider entering positions around ₹870, anticipating a potential upside towards ₹900, while keeping a close watch on ₹845 as the immediate support.
Aurobindo Pharma Ltd: Ganesh Dongre recommends buying Aurobindo Pharma share price at ₹1,088 with a stoploss at ₹1,070 with Aurobindo Pharma share price target of ₹1,125.
A recent short-term analysis of the stock reveals the emergence of a bullish reversal pattern on the chart, indicating a possible near-term price rebound. This formation suggests the potential for a move towards the ₹1,125 level, supported by improving price action.
Aurobindo Pharma share price was trading at ₹1,088, while holding above a key support zone at ₹1,070, which has acted as a reliable floor in recent sessions. This support level reinforces the bullish bias and provides a favourable base for a potential upward move.
Given the current market structure and positive technical setup, a buying opportunity is emerging around ₹1,088. Traders and short-term investors may consider initiating long positions, targeting ₹1,125, with ₹1,070 acting as an important downside support.
The confluence of the bullish reversal pattern and sustained support at lower levels suggests a constructive risk-reward ratio in the current scenario.
Shiju Koothupalakkal intraday stocks for today
Waaree Energies Ltd: Shiju Koothupalakkal recommends buying Waaree Energies share price at ₹3,280 with a Waaree Energies share price target of ₹3,450 with a stop loss of ₹3,220.
Waaree Energies share price has been maintaining the strong support near 3,150-3,200 zone and currently once again has indicated a revival with significant volume participation on the intraday 60 minutes chart. The RSI has corrected well and is currently well placed near the oversold zone with signs of improvement visible signalling a buy.
“With the chart technically looking good, we suggest buying the stock for an upside target of 3,450 keeping the stop loss at the 3,220 level,” said Koothupalakkal.
CG Power and Industrial Solutions Ltd: Shiju Koothupalakkal recommends buying CG Power share price at ₹747 with a CG Power share price target of ₹785 with a stop loss of ₹730.
CG Power share price after witnessing a decent correction from the 795 zone has shown signs of consolidation near the 740 level and with bias improving and huge volume participation visible on the intraday 60 minutes chart, can anticipate for further rise in the coming sessions. The RSI has recovered from the highly oversold zone and has signalled a buy with a positive trend reversal 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 785 keeping the stop loss at the 730 level,” said Koothupalakkal.
Mangalore Chemicals & Fertilizers Ltd: Shiju Koothupalakkal recommends buying Mangalore Chemicals share price at ₹320.85 with a Mangalore Chemicals share price target of ₹338 with a stop loss of ₹313.
Mangalore Chemicals share price has recently witnessed a short period of correction to consolidate near the 305 zone and thereafter, has recovered with bias improving and currently with a positive candle formation with significant volume participation witnessed, further rise is anticipated in the coming sessions. The RSI after a decent correction has indicated a positive trend reversal from the oversold zone to signal a buy and can expect for further gains.
“With the chart technically looking attractive, we suggest buying the stock for an upside target of 338 keeping the stop loss at the 313 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.