Stock market today: Trade setup for Nifty 50, gold, silver rates today to Trump's tariffs —eight stocks to buy or sell
Stock market today: US President Donald Trump’s renewed remarks on potential tariff hikes against Indian imports linked to India’s continued purchases of Russian oil added a layer of geopolitical caution to global markets, keeping risk appetite in check during Monday’s session. Additionally, domestic bond yields moved higher after the size of the state government’s borrowing programme exceeded expectations, raising supply-side concerns in the debt market and keeping equity sentiment in check.
The Nifty 50 index finished 78 points lower at 26,250, while the BSE Sensex shed 322 points and closed at 85,439. The Bank Nifty index declined by 106 points and closed at 60,044.
Stock market today
Speaking on the outlook of the Nifty 50 and Sensex, Shrikant Chouhan, Head Equity Research, Kotak Securities, said, “We are of the view that 26,150/85,200 and 26,100/85,000 remain key support zones. As long as the market is trading above these levels, the bullish sentiment is likely to continue. On the higher side, 26,350/85,700 and 26,400/85,850 are immediate resistance zones for the bulls. However, below 26,100/85,000, the uptrend could become vulnerable. The intraday market texture is volatile; hence, level-based trading would be the ideal strategy for day traders.”
On the outlook of the Bank Nifty index, Vatsal Bhuva, Technical Analyst at LKP Securities, said, “In Monday’s session, profit booking was observed in the Bank Nifty index from higher levels, resulting in the formation of a bearish candlestick on the daily chart. However, the broader chart structure remains positive as the index has delivered a falling trendline breakout and is sustaining above its short-term 10-day and 20-day EMAs. Additionally, the RSI is in a bullish crossover, indicating underlying strength in momentum. Hence, as long as Bank Nifty sustains above the 20-day EMA, a buy-on-dips strategy can be adopted with a positive bias. Immediate support is placed at 59,700, resistance at 60,500, while positional support is seen near 59,300 levels.”
Gold rate today
Speaking on the outlook of gold rate today, Jateen Trivedi, VP Research Analyst – Commodity & Currency at LKP Securities, said, “The momentum in bullion remains strong as a data-heavy week in the U.S. lies ahead, with ADP employment, Non-Farm Payrolls, unemployment rate, and initial jobless claims expected to inject heightened volatility into prices. On the geopolitical front, fresh tensions continue to emerge, with developments involving the U.S. and Venezuela adding to global uncertainty, which is keeping safe-haven demand for gold intact. Overall sentiment remains positive, with gold expected to trade in a volatile range of ₹1,36,500 to
₹1,40,000 in the near term.”
Silver rate today
Speaking on the outlook of silver rate today, Anuj Gupta, Director at Ya Wealth, said, “COMEX silver rate today is in a broader $72 to $78 per ounce zone, whereas MCX gold rate today is in a broader range of ₹2,42,000 to ₹2,50,000 per kg. On breaking above ₹2,50,000, the white metal may soon touch ₹2,55,000 per kg levels.”
Trump’s tariffs on India
Speaking on his displeasure over India’s crude oil imports from Russia, Donald Trump said on Sunday, “They (India) wanted to make me happy, basically. Modi is a very good man; he is a good guy. He knew I was not happy, and it was important to make me happy. They do trade, and we can raise tariffs on them very quickly. It would be very bad for them.”
Trump’s remarks came after US Senator Lindsey Graham, who was accompanying him on Air Force One, stated that the tariffs imposed on India by Trump are the “chief reason” New Delhi is now buying substantially less Russian oil.
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: Union Bank, Marico, DLF, BSE, Bharti Airtel, TD Power System, Data Pattern, Sumitomo Chemical.
Sumeet Bagadia’s stock recommendations today
1] Union Bank: Buy at ₹162.36, Target ₹174, Stop Loss ₹156.60; and
2] Marico: Buy at ₹773, Target ₹830, Stop Loss ₹745.
Ganesh Dongre’s buy or sell stocks for today
3] DLF: Buy at ₹712, Target ₹745, Stop Loss ₹700;
4] BSE: Buy at ₹2670, Target ₹2750, Stop Loss ₹2570; and
5] Bharti Airtel: Buy at ₹2105, Target ₹2170, Stop Loss ₹2070.
Shiju Kuthupalakkal’s intraday stocks for today
6] TD Power Systems: Buy at ₹694, Target ₹735, Stop Loss ₹680;
7] Data Pattern: Buy at ₹2731, Target ₹2875, Stop Loss ₹2670; and
8] Sumitomo Chemical: Buy at ₹479.40, Target ₹504, Stop Loss ₹469.
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.