Stock market today: Indian stocks were relatively flat on Tuesday, with the benchmarks staying within a narrow range for the third consecutive session due to a lack of new catalysts, as investors looked for more information on India-U.S. trade talks. The Nifty 50 was down 0.18% at 24,900.65, while the Sensex dipped by 0.24% to reach 81,865.70 points by 11:21 IST. Analysts pointed out that the US markets are under pressure, primarily due to the ongoing repercussions of the tariff disputes from President Trump’s tenure.
The tariff strategy, imposing at least a 10 percent duty on nearly all imports into the US, has sparked worries regarding the future of global commerce. The repercussions of this trade approach are being felt in financial markets worldwide, including those in India.
Riyank Arora of Mehta Equities believes Nifty 50 to move higher towards 25,300–25,400 in the near term. Arora recommends Tata Technologies, CDSL, and Caplin Point Laboratories shares to buy.
Market Views – Riyank Arora, Technical Analyst, Mehta Equities Ltd
Nifty 50
Nifty 50 continues to trade with a positive bias, showing strong support around 24,500, while immediate support lies at 24,800. On the upside, 25,115 remains a major resistance level. If the index manages to stay above 24,800, it is likely to move higher towards 25,300–25,400 in the near term. The overall trend is bullish, supported by strong market breadth and buying in large-cap stocks. Traders are advised to follow a buy-on-dips strategy as long as the key support levels are intact. Momentum indicators such as RSI are also pointing upwards, suggesting continued strength in the short to medium term.
Bank Nifty Outlook
Bank Nifty is showing solid strength, trading firmly above 55,000 levels. Immediate support is seen at 55,170, with major support placed at 54,400. On the upside, the index faces resistance near 55,700, and a breakout above this could trigger a move towards new highs. The index remains in a strong uptrend, backed by sustained buying in major banking names. RSI and other indicators are showing strength, and the price is well above key moving averages. The outlook remains positive, and short-term traders can consider buying on dips for potential gains as long as 54,400 is not breached.
Shares to buy for short term
Riyank Arora recommends these three stocks in the short term – Tata Technologies Ltd (Tata Tech), Central Depository Services Ltd (CDSL), and Caplin Point Laboratories Ltd.
1. Tata Technologies Ltd (Tata Tech)
Buy at ₹760 | Stop Loss ₹700 | Target ₹850
Tata Tech has given a strong breakout above the key resistance level of ₹750, backed by rising volumes. This move reflects renewed buying interest and continuation of the ongoing uptrend. The stock is forming a pattern of higher highs and is trading above its key moving averages, reinforcing the bullish sentiment. The Relative Strength Index (RSI) stands at 68, indicating solid momentum while still below the overbought zone. As long as the stock maintains above ₹700, it is likely to head toward ₹850 in the short term. Investors can consider buying on dips, supported by favorable technical indicators.
2. Central Depository Services Ltd (CDSL)
Buy at ₹1,450 | Stop Loss ₹1,400 | Target ₹1,600
CDSL has witnessed a decisive breakout above its resistance at ₹1,430, with rising volumes and a positive shift in momentum. The stock is coming out of a consolidation phase, pointing to the beginning of a new upward trend. The RSI is currently at 69, suggesting strong bullish momentum. Additionally, the MACD has shown a positive crossover, confirming a potential trend reversal. These indicators collectively support a short-term bullish view. With no major resistance till ₹1,600, and as long as ₹1,400 holds as support, CDSL remains a strong candidate for short-term gains.
3. Caplin Point Laboratories Ltd
Buy at ₹2,161 | Stop Loss ₹2,000 | Target ₹2,600
Caplin Point has broken out above the ₹2,100 level, signaling the end of a consolidation phase and the start of an upward move backed by healthy volumes. The stock has also been trading well above its key moving averages, which further supports the bullish trend. The RSI is at 71, showing strong momentum, though slightly in the overbought zone. However, the strength in price action and consistent buying interest suggest more upside. As long as it holds above ₹2,000, the stock is likely to continue trending higher. The next potential resistance is around ₹2,600, making it an attractive short-term buy.
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.
