Stock market today: Trade setup for Nifty 50, Accenture Q4 results to H-1B visa fee concerns; 8 stocks to buy or sell

Stock market today: The domestic benchmark indices, Nifty 50 and Sensex, fell for the fifth consecutive session on Thursday, marking their longest streak of losses in over six months, as IT shares plummeted following ongoing foreign capital outflows triggered by US visa restrictions that have kept investors anxious.

The Nifty 50 decreased by 0.66% to 24,890.85, while the BSE Sensex dropped by 0.68% to 81,159.68, recording their longest sequence of declines since early March. Over the course of these five sessions, the Nifty 50 and Sensex have registered losses of 2.1% and 2.2%, respectively.

Trade Setup for Friday

According to Amruta Shinde, Technical & Derivative Analyst at Choice Broking, the Nifty 50 has decisively fallen below 25,000, closing well within that range, which indicates a heightened downside sentiment, with resistance expected between 25,000 and 25,050, and support seen in the 24,700-24,750 range. The Bank Nifty also lagged behind, experiencing sell-offs from both private and public sector banks.

Global Markets and H-1B visa fee concerns

Vinod Nair, Head of Research at Geojit Investments, stated that Indian markets have continued their decline for the fifth consecutive session as investors realized profits in the face of ongoing FII withdrawals and uncertainty regarding US-India trade discussions, which is anticipated to negatively impact Q2 GDP growth.

The market experienced broad selling pressure with significant declines in the auto, IT, pharma, and healthcare sectors, while metals benefited from China’s liquidity measures and concerns over copper supply. Overall, market sentiment remains wary as India prepares for its H2FY26 borrowing and the release of US macroeconomic data expected by the end of the week, 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: Bharti Hexacom Ltd, Netweb Technologies India Ltd, State Bank of India (SBI), Finolex Cables Ltd, Aurobindo Pharma Ltd, Vikram Solar Ltd, GRM Overseas Ltd, and Cemindia Projects Ltd.

Sumeet Bagadia’s stock picks

1] Bharti Hexacom Ltd: Bagadia recommends buying Bharti Hexacom share price at ₹1,727.8 keeping a stoploss at ₹1,670 with a Bharti Hexacom share price target of ₹1,845.

Bharti Hexacom share price was trading at ₹1,727.8, the stock is currently witnessing a corrective phase after its previous upward move, with price action showing a sideways to slightly downward bias. The stock has been consolidating near its short-term moving averages and attempting to hold above key support levels.

Traders should closely monitor price action near the current resistance zone for signs of breakout continuation.

In conclusion, based on current technical conditions, Bharti Hexacom share price offers a strong buying opportunity for short-term traders targeting 1,845, provided sound risk management measures are maintained.

2] Netweb Technologies India Ltd: Bagadia recommends buying Netweb Technologies share price at ₹3,613.5 keeping a stoploss at ₹3,500 with a Netweb Technologies share price target of ₹3,840.

Netweb Technologies share price was trading at 3,613.5, 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 3,652, indicating strong bullish momentum. This bullish structure is supported by rising volumes, confirming the strength behind the price action.

Traders are advised to closely monitor the stock’s behaviour near the resistance area for any breakout confirmation and subsequent follow-through.

In conclusion, based on current technical conditions, Technologies share price offers a strong buying opportunity for short-term traders targeting 3,840, provided sound risk management measures are maintained.

Ganesh Dongre’s stocks to buy today

3] 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 ₹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.

4] Finolex Cables Ltd: Ganesh Dongre recommends buying Finolex Cables share price at ₹820 with a stoploss at ₹810 with Finolex Cables share price target of ₹840.

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 ₹840

Finolex Cables was trading at ₹820, having established a strong support base at ₹810. 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 ₹820, anticipating a potential upside towards ₹840, while keeping a close watch on ₹810 as the immediate support.

5] Aurobindo Pharma Ltd: Ganesh Dongre recommends buying Aurobindo Pharma share price at ₹1,098 with a stoploss at ₹1,080 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 ₹1,098, while holding above a key support zone at ₹1,080, which has acted as a reliable floor in recent sessions. This support level reinforces the bullish bias and provides a favorable base for a potential upward move.

Given the current market structure and positive technical setup, a buying opportunity is emerging around ₹1,098. Traders and short-term investors may consider initiating long positions, targeting ₹1,125, with ₹1,080 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

6] Vikram Solar Ltd: Shiju Koothupalakkal recommends buying Vikram Solar share price at ₹334 with a Vikram Solar share price target of ₹355 with a stop loss of ₹326.

Vikram Solar share price after witnessing a decent correction has shown signs of taking support near the 325 zone and has indicated a significant pullback on the intraday 60 mins chart with volume participation on the rise to improve the bias and expect for further rise in the coming sessions. The RSI has recovered from the highly oversold zone to signal a buy and can anticipate for further gains with potential visible.

“With the intraday chart technically well placed, we suggest buying the stock for an upside target of 355 keeping the stop loss at the 326 level,” said Koothupalakkal.

7] GRM Overseas Ltd: Shiju Koothupalakkal recommends buying GRM Overseas share price at ₹371.35 with a GRM Overseas share price target of ₹392 with a stop loss of ₹363.

GRM Overseas share price after witnessing a gradual slide has taken support near the important 100 period SMA at 350 zone and has indicated a significant pullback to move past the 50EMA at 360 level to improve the bias and anticipate for further rise in the coming sessions. The RSI is well positioned and has recovered strongly to signal a buy and with much upside potential 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 392 keeping the stop loss at the 363 level,” said Shiju.

8] Cemindia Projects Ltd: Shiju Koothupalakkal recommends buying Cemindia Projects share price at ₹818 with a Cemindia Projects share price target of ₹855 with a stop loss of ₹800.

Cemindia Projects share price has maintained the positive bias sustaining above the important 50EMA zone at 775 level and currently with a positive candle formation on the daily chart has shown signs of improvement and can expect for further upward move with indicators supporting. The RSI is well placed with strength indicated and can anticipate for further rise in the coming days.

“With the chart technically looking good, we suggest buying the stock for an upside target of 855 keeping the stop loss at the 800 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.