Stock Market Today: The benchmark Nifty-50 Index manaed to end a volatile trading session on Thursday with gains of 0.33% at 24,833.60. The Bank Nifty also ended 0.23% higher at 55,546.05 as most other sectors led by Realty, Metal and Healthcare gained. The broader indices also ended with almost half a per cent gains.
Trade Setup for Friday
For Nifty-50 Index 24,700 and 24,650 would act as key support zones and if the market sustains above these levels, the chances of hitting 25,000 -25,100 would become brighter. However, a break below 24,650 could change the sentiment, said Shrikant Chouhan, Head Equity Research, Kotak Securities:
For Bank Nifty, the support is placed near 54,900 and as long as the index remains above this level, a relief rally towards 56,000 cannot be ruled out, said Hrishikesh Yedve, AVP Technical and Derivatives Research at Asit C. Mehta Investment Interrmediates Ltd.
Global Markets and Q4 Results
Looking ahead, we expect the market to remain range-bound, with sector rotation and stock-specific movements driven by the final set of Q4 results on Friday, macro-economic indicators, and developments on the US tariff front., said Siddhartha Khemka, Head – Research, Wealth Management, Motilal Oswal Financial Services Ltd.
Stocks to buy today
Sumeet Bagadia, Executive Director at Choice Broking, has recommended two stock picks for today. Ganesh Dongre, Senior Manager of Technical Research at Anand Rathi, suggested three stocks, while Shiju Koothupalakkal, Senior Manager — Technical Research, at Prabhudas Lilladher has given three stock picks
Sumeet Bagadia’s stock picks
- Jindal Steel & Power Ltd– Bagadia recommends buying Jindal Steel & Power or INDALSTEL at Around ₹971 keeping Stoploss at around ₹937 for a target price of ₹1040
JINDALSTEL is currently trading around ₹971, showing a strong recovery from recent lows and indicating a potential reversal in trend. The stock is on the verge of breaking its recent lower-high structure, supported by a significant surge in trading volumes—highlighting increased market participation and renewed buying interest. A sustained move above the ₹986 level would confirm a bullish breakout, potentially paving the way for an upside move toward the short-term target of ₹1040.
2. Mazagon Dock Shipbuilders Ltd– Bagadia recommends buying Mazagon Dock Shipbuilders or MAZDOCK at around ₹3751.20 keeing Stoploss at ₹3619 for a target price of ₹4014
MAZDOCK is currently trading at ₹3751.20, maintaining a strong uptrend marked by the formation of consistent higher highs and higher lows—an indication of sustained bullish momentum. The stock recently reached an all-time high of ₹3775, with a critical resistance level identified near ₹3800. A decisive breakout above this level could attract further buying interest and drive the stock toward its next potential target of ₹4017
Ganesh Dongre’s stocks to buy today
3. Glenmark Pharmaceuticals Ltd – Dongre recommends buying Glenmark Pharmaceuticals or GLENMARK at around ₹1410 keeping Stoploss at ₹1370 for a target price of ₹1450
In the latest short-term technical analysis, stock has shown a strong and consistent bullish trend, indicating the potential for an extended upward move. The stock is currently trading at ₹ 1410 and holding above a key support level at ₹ 1370. This support zone serves as a critical point for risk management. Given the bullish momentum, traders are advised to consider a buying opportunity with a stop-loss placed strategically at ₹ 1370 to manage downside risk. The target for this trade is set at ₹ 1450, suggesting a favorable risk-to-reward ratio and a continuation of the prevailing upward trend.
4. Bharat Electronics Ltd- Dongre recommends buying Bharat Electronics or BEL at ₹386 keeping Stoploss at ₹375 for a target price of ₹405
Stock has exhibited a strong notable continue bullish pattern, offering another promising opportunity for short-term traders. The stock is currently priced at ₹ 386 and maintaining a strong support at ₹ 375. The technical setup indicates the potential for a price retracement towards the ₹ 405 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 ₹ 375 offers a prudent approach to capturing the anticipated upside.
5. Tata Consultancy Services Ltd or TCS– Dongre recommends buying TCS at around ₹3500 keeping Stoploss at ₹3450 for a target price of ₹3600.
Stock is currently trading at ₹ 3500 and appears to be in bullish zone for short term. A bullish reversal pattern has emerged on the daily chart, indicating a potential upmove. The critical support level lies at ₹ 3450, which also acts as a key stop-loss point for this trade. With bullish cues signaling a possible retracement towards the ₹ 3600 target, this setup provides a favorable entry opportunity for traders looking to capitalize on a technical rebound.
Shiju Koothupalakkal’s intraday stocks for today
6. Ideaforge Technology Ltd – Koothupalakkal’ recommends buying Ideaforge Technology or IDEA FORGE at around ₹539.80 for a target price of ₹ 570 keeping Stop loss at ₹528
The stock maintained with a strong bullish trend has once again witnessed a significant revival after a short period of correction taking support near the ₹501 zone to improve the bias and anticipate for another fresh round of upward move in the coming sessions. The RSI after correcting from the highly overbought zone is well positioned and has indicated a positive trend reversal to signal a buy and has much upside potential to carry on with the positive move further ahead. With the chart technically looking good,
7. Graphite India Ltd -Koothupalakkal’ recommends buying Graphite India or GRAPHITE INDIA at around ₹553 for a target price of ₹585 keeping Stop loss at ₹542
The stock after having a strong steep rise recently has corrected to some extent forming a flag pattern on the daily chart and currently has indicated a breakout to improve the bias and anticipate for fresh upward move in the coming days. The RSI has indicated strength and once again with a positive trend reversal indication has signaled a buy with upside potential visible. With the chart technically well positioned, we suggest buying the stock for an upside target of ₹585 level keeping the stop loss of ₹542 level.
8. Nava Ltd – Koothupalakkal’ recommends buying NAVA at around ₹473.90 for a target price of ₹500 keeping Stop loss at Around ₹462
The stock has indicated a bullish candle formation on the daily chart after a short period of consolidation to come out of the narrow range bound zone and has improved the bias to anticipate for further rise. The RSI is well positioned indicating a trend reversal to signal a buy and has much upside potential to carry on with the positive move further ahead. With the chart technically looking attractive, we suggest buying the stock for an upside target of ₹500 level keeping the stop loss of ₹462 level.
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.
