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

Stock Market Today: The benchmark Nifty-50 index rebounded 0.57% on Tuesday to end at 24,821.10 amidst short covering. Bank Nifty at 56,222.00 gained 0.24%, as most sectors led by Realty, Pharma, Metals, and Oil & Gas were among the gainers. Even mid- and small-caps ended with 0.8-1.0% gains.

Trade Setup for Wednesday

On the higher side, Nifty may move towards 24,950–25,000. A decisive move above 25,000 could trigger a rally towards 25,200. On the downside, support is placed at 24,750, said Rupak De, Senior Technical Analyst at LKP Securities.

For the Bank Nifty, support lies at 56000–55800, while it faces resistance in the 56500–56750 zone, as per analysts.

Global markets today and Q1 Results

Going ahead, investor focus would shift towards global macros, with US Q2 GDP and the Fed interest rate decision scheduled to be announced tomorrow. On the earnings front, key results on Wednesday include Tata Steel, Interglobe Aviation, Hyundai Motor, PNB, and Power Grid, amongst others. Overall, we expect the markets to witness selective buying, driven by quarterly results, while broader sentiment would hinge on macroeconomic data and progress in the India-US trade deal, said Siddhartha Khemka, Head of Research, Wealth Management, Motilal Oswal Financial Services Ltd.

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: Shankara Building Products Ltd., Krishana Phoschem Ltd., Biocon Ltd , Glenmark Pharmaceuticals Ltd., One 97 Communications Ltd,  Lloyds Engineering Works Ltd, Graphite India Ltd., and Ideaforge Technology Ltd.

Sumeet Bagadia’s stock picks

1. Shankara Building Products Ltd _ Bagadia recommends buying SHANKARA at around ₹1132.2 , keeping Stoploss at ₹1090 for a target price ₹1210

SHANKARA is currently positioned at ₹1132. 2 levels witnessed a robust up move in today’s session. The stock registered a strong bullish candle on the daily chart, confirming a breakout from a month-long consolidation zone.

After trading in a narrow range near 1,000–1,060 for several weeks, today’s price action clearly signals a resumption of the prior bullish trend. This breakout strengthens the view of fresh buying interest from institutions or large players.

2. Krishana Phoschem Ltd-Bagadia recommends buying KRISHANA at around ₹544, keeping stop loss at ₹523 for a target price of ₹580

KRISHANA, currently trading at ₹544, has shown a reaffirming strong bullish sentiment. Recent price action indicates the stock gradually moved higher, forming higher highs and higher lows—a classic sign of a bullish reversal. The bullish alignment of EMAs confirms that the broader trend remains firmly positive, with the 20-day EMA now acting as immediate dynamic support.

Ganesh Dongre’s stocks to buy today

1. Biocon Ltd-Dongre recommends buying Biocon at ₹398, keeping stop loss at ₹390  for a target price of ₹415

Stock has been exhibiting a strong and consistent bullish pattern, indicating sustained investor interest and positive price momentum. The stock is currently trading at ₹ 398 and has established a solid support base at ₹ 390. This level has historically acted as a cushion, and the recent price action suggests a reversal from this support, reinforcing bullish sentiment. The technical setup points to the potential for a price retracement toward the ₹415 level in the near term. Given the renewed strength and the favorable risk-reward ratio, entering at the current market price with a stop-loss placed at ₹390 offers a strategic opportunity to capture the expected upside move. The outlook remains positive as long as the stock holds above its key support zone

2. Glenmark Pharmaceuticals Ltd—Dongre recommends buying GLENMARK at around ₹2158, keeping Stoploss at ₹2130 for a target price of ₹2220

Stock has exhibited a strong, notable, continued bullish pattern, offering another promising opportunity for short-term traders. The stock is currently priced at ₹ 2158 and maintaining strong support at ₹ 2130. The technical setup indicates the potential for a price retracement towards the ₹ 2220 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 ₹ 2130 offers a prudent approach to capturing the anticipated upside.

3. One 97 Communications Ltd.—Dongre recommends buying One 97 Communications or PAYTM, at around ₹1075 keeping the stop loss  at ₹1050 for a target price of ₹1120

Stock has exhibited a strong, notable, continued bullish pattern, offering another promising opportunity for short-term traders. The stock is currently priced at ₹ 1075 and maintaining strong support at ₹ 1050. The technical setup indicates the potential for a price retracement towards the ₹ 1120 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 ₹ 1050 offers a prudent approach to capturing the anticipated upside.

Shiju Koothupalakkal intraday stocks for today

6. Lloyds Engineering Works Ltd.-Koothupalakkal recommends buying  LLOYDS ENGG at around ₹73.20 for a target price of ₹79, keeping Stop loss at ₹ 71

After the strong pickup from the ₹55 zone, the stock has witnessed a short period of correction to take support near the important 50EMA at the ₹69 zone and has indicated a bullish candle with decent volume participation to improve the bias, and we can anticipate a further rise in the coming days. The RSI has cooled off significantly from the highly overbought zone and is currently well positioned, indicating a reversal with improving bias, expecting further rise in the coming days. With the chart technically looking attractive, we suggest buying the stock.

7. Graphite India Ltd-Koothupalakkal recommends buying GRAPHITE INDIA at around ₹550 for a target price of ₹580. keeping Stop loss at ₹538

The stock, after correcting to some extent, has taken support near the base of the ascending channel pattern on the daily chart near the 535 level and has indicated a positive candle formation moving past the significant 50EMA at the 548 level to improve the anticipation for further rise in the coming days. The RSI has corrected well and is currently well positioned with improvement visible. With the chart technically looking attractive, we suggest buying the stock .

8. Ideaforge Technology Ltd-Koothupalakkal recommends buying IDEA FORGE at around ₹459 for a target price of ₹485. keeping Stop loss at ₹448

The stock has witnessed a decent erosion from the peak zone of 660 level and has currently arrived near the upper band of the descending channel pattern at the 446 zone with support visible, and with a pullback witnessed, it, it has shown signs of improvement, expecting a further rise in the coming sessions. The RSI has corrected quite significantly and has arrived at the oversold zone with a high probability of a trend reversal, expecting a fresh upward move in the coming days. With the chart technically looking good, we suggest buying the stock.

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