Stock market today: Trade setup for Nifty 50, global markets, Q1 results today; Eight stocks to buy or sell on Wednesday

Stock Market Today: Investors got respite as the Benchmark Nifty-50 index ended with 0.45% gains at 25,195.80 on Tuesday, after four straight sessions of decline. The Bank Nifty also gained 0.43% to the 57,006.65 level, while Auto, Healthcare, and Consumer Durables led the gains as all the indices ended with gains. The mid- and small-caps ended with gains of close to 1%.

Trade Setup for Wednesday

For Nifty, a sustainable move above the immediate resistance of 25350 could open more upside in the near term. Immediate support is placed at 25000 levels, as per Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities.

For Bank Nifty, a move above 57,600 will signal an extended rally towards 58,500 levels in the coming week, as per Bajaj Broking.

Global markets today and Q1 Results

“Market sentiment is showing signs of improvement, supported by a blend of global and domestic developments. Optimism is growing around the possibility of an interim trade agreement with the US, which could lead to a moderation in tariff-related risks, said Vinod Nair, Head of Research, Geojit Investments Limited

Concurrently, domestic inflation has fallen to multi-year lows, strengthening expectations of a further rate cut by the RBI—potentially accelerating future economic growth, which is currently showing signs of improvement, added 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: NDR Auto Components Ltd, Rupa & Company Ltd, HDFC Life Insurance Company Ltd, Mazagon Dock Shipbuilders Ltd, Tata Steel Ltd, NOCIL Ltd, Indo Count Industries Ltd and Hi-Tech Pipes Ltd.

Sumeet Bagadia’s stock picks

1. NDR Auto Components Ltd-Bagadia recommends buying NDRAUTO at around ₹1142, keeping the stop loss at ₹1100 for a target price of ₹1222

NDRAUTO, currently trading at ₹1142, witnessed a sharp up move in today’s trade; the stock not only broke above short-term resistance zones, but it also has confirmed bullish continuation supported by increasing volume and momentum indicators. A firm breakout above the ₹1,100 psychological level reinforces the ongoing positive sentiment. Today’s breakout moves indicate fresh buying interest and institutional activity. After consolidating near the ₹1,050-1,100 zone over the past few sessions, the breakout candle suggests that the range has resolved to the upside.

2. Rupa & Company Ltd-Bagadia recommends buying RUPA in at around ₹229.62, keeping the stop loss at ₹222 for a target price of ₹245

RUPA witnessed a powerful bullish breakout in today’s session. The stock surged with significant volume expansion, indicating robust buying interest and potential accumulation at lower levels and a clear shift in sentiment. The closing is also above the 200-day EMA at 225.57, which adds significant strength to the breakout and validates bullish sentiment.

Ganesh Dongre’s stocks to buy today

3. HDFC Life Insurance Company Ltd—Dongre recommends buying HDFCLIFE at ₹760. keeping Stoploss at ₹740 for a target price of ₹790

Stock has exhibited a strong, notable, continued bullish pattern, offering another promising opportunity for short-term traders. The stock is currently priced at ₹ 760 and maintaining strong support at ₹ 740. The technical setup indicates the potential for a price retracement towards the ₹ 790 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 ₹ 740 offers a prudent approach to capturing the anticipated upside.

4. Mazagon Dock Shipbuilders Ltd—Dongre recommends buying Mazagon Dock Shipbuilders, or MAZDOCK, at around ₹3115, keeping Stoploss at ₹3070 for a target price of ₹3215

Stock has exhibited a strong, notable, continued bullish pattern, offering another promising opportunity for short-term traders. The stock is currently priced at ₹ 3115 and maintaining strong support at ₹ 3070. The technical setup indicates the potential for a price retracement towards the ₹ 3215 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 ₹ 3070 offers a prudent approach to capturing the anticipated upside.

5. Tata Steel Ltd—Dongre recommends buying TATASTEEL at ₹159, keeping the stop loss at ₹155 for a target price of ₹168

In the latest short-term technical analysis, the stock has shown a strong and consistent bullish trend, indicating the potential for an extended upward move. The stock is currently trading at ₹ 159 and holding above a key support level at ₹ 155. 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 ₹ 155 to manage downside risk. The target for this trade is set at ₹ 168, suggesting a favorable risk-to-reward ratio and a continuation of the prevailing upward trend.

Shiju Koothupalakkal intraday stocks for today

6. NOCIL Ltd-Koothupalakkal recommends buying NOCIL at around ₹192.50 for a target of ₹204, keeping Stop loss at ₹188

The stock has indicated a gradual rising trend with a series of higher bottom formations on the daily chart, currently once again indicating a positive reversal has pulled back to move past the important 50EMA at the ₹191 level, improving the bias and can anticipate for further rise in the coming sessions. The volume visibly has much improved, with the RSI currently well positioned, indicating a positive trend reversal to signal a buy, and can carry on with the positive move further ahead. With much upside potential visible and the chart technically looking good, we suggest buying the stock.

7. Indo Count Industries Ltd-Koothupalakkal recommends buying INDO COUNT INDS at around ₹292 for a target price of ₹306, keeping Stoploss at ₹286

The stock has indicated a bullish candle formation to move past the confluence of the 50 EMA and the 100-period MA at the ₹291 zone to improve the bias, and we can expect further gains in the coming sessions. The volume has picked up, and it can carry on with the positive move further ahead with the RSI well placed and signaling a buy. With much upside potential visible and the chart technically looking attractive, we suggest buying the stock.

8. Hi-Tech Pipes Ltd—Koothupalakkal recommends buying HI-TECH PIPES at around ₹98 for a target price of ₹104, keeping Stop loss at ₹96

The stock has been sluggish for quite some time, with a gradual slide witnessed, and currently has shown signs of revival, with decent volume participation visible to improve the bias, and we can anticipate a further rise to carry on with the positive move further ahead. The RSI is currently well positioned and has indicated a positive trend reversal to signal a buy with much upside potential visible. With the chart technically looking good, we suggest buying the stock.

Disclaimer: The views and recommendations made above are those of individual analysts or brokerage companies and not of Mint. We advise investors to check with certified experts before making any investment decisions