
Buy or sell stock: The key benchmark indices of the Indian stock market staged a smart recovery on Thursday, reversing the previous session’s losses, as risk appetite returned across the board. The Nifty 50 concluded the session on a strong note, settling just shy of the 25,200 milestone, underpinned by sustained buying across key sectors. After opening on a muted note and exhibiting range-bound movement during the early part of the session, the index picked up momentum in the latter half, supported by positive global cues and institutional buying interest. Investor sentiment was buoyed by positive cues from international markets and easing bond yields. At the closing bell, the BSE Sensex advanced 398.44 points, or 0.49%, to close at 82,172.10, while the Nifty 50 climbed 135.65 points, or 0.54%, to end at 25,181.80, marking a robust recovery and closing near the intraday high — a technically bullish signal indicating strength in market sentiment.
The broader markets showed mixed trends. The BSE Midcap Index outperformed the frontline indices, gaining 0.75%, reflecting continued investor interest in quality mid-tier stocks. Meanwhile, the BSE Smallcap Index ended on a flat note, suggesting stock-specific action amid concerns about valuation. Sectoral participation was broad-based, with all major indices closing in the green. Notable gainers included Pharma, Metal, Oil & Gas, Realty, PSU Bank, and IT, each adding between 0.5% and 1%. The rally in pharma and IT indicated defensive and export-oriented buying, while gains in PSU Banks and Metals hinted at optimism around domestic growth and commodity price movements.
Vaishali Parekh, Vice President of Technical Research at Prabhudas Lilladher, believes the Indian stock market bias is positive, as the Nifty 50 index is sustaining above the 25,000 level. However, the Prabhudas Lilladher expert also noted that the key benchmark index is facing a hurdle at the 25,200 level. Therefore, a bullish or bearish trend can be assumed upon the break of either side of this 25,000 to 25,200 range.
Speaking on the outlook of the Nifty 50 index, Vaishali Parekh said, "The Nifty 50 index, having found support near the 25,000 zone, has witnessed a good recovery to improve the bias once again, touching the 25,200 zone with an optimistic view maintained for further rise in the coming sessions. The index, as said earlier, would need a decisive breach above the important hurdle at the 25,300 zone to establish conviction and clarity to carry on further ahead with the ongoing uptrend, with the 50-DEMA level at the 24,900 zone positioned as the important support."
On the outlook of the Bank Nifty today, Parekh said, "The Bank Nifty index, after a short period of consolidation maintaining above the important 100-period SMA at 55,700 zone, has indicated a decent recovery to end near the 56,200 zone with bias once again improving, expecting a further rise in the coming sessions. The inverted head and shoulder neckline zone at the 55,600 level has been sustained. Once a decisive move above the 56,500 level is confirmed, we can anticipate further upward moves for the target of the 57,700 zone in the coming days, with frontline banking stocks well poised for further gains."
Parekh stated that immediate support for the Nifty 50 index is located at the 25,000 level, while the resistance is at 25,400. The Bank Nifty is expected to have a daily range of 55,800 to 57,000.
Regarding stocks to buy today, Vaishali Parekh of Prabhudas Lilladher recommended three buy-or-sell stocks: Aurobindo Pharma, SAIL, and Astra Microwave Products.
1] Aurobindo Pharma: Buy at ₹1119.90, Target ₹1165, Stop Loss ₹1100;
2] SAIL: Buy at ₹136.45, Target ₹144, Stop Loss ₹133; and
3] Astra Microwave Products: Buy at ₹1162, Target ₹1220, Stop Loss ₹1140.
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.
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