Stock market today: Trade setup for Nifty 50, gold, silver rates to Trump's State of the Union address; 8 stocks to buy

Stock market today: The key benchmark indices of the Indian stock market corrected sharply on Tuesday. The Nifty 50 index corrected by 288 points and ended at 25,424; the BSE Sensex crashed 1,068 points and closed at 82,225; and the Bank Nifty index nosedived 216 points and closed at 61,047.

Among sectors, the IT index lost the most, shedding over 4.45%, whereas, despite weak market sentiment, the Metal index outperformed, rallying over 1%.

Gift Nifty today

On what Gift Nifty Live Index signals, Hariprasad K, SEBI-registered Research Analyst and Founder, Livelong Wealth, said, “GIFT Nifty is indicating a potential gap-up opening for the Nifty 50 today, offering early signs of a rebound after yesterday’s weakness. However, despite the supportive opening cues, the broader technical structure remains fragile.”

Stock market today

Expecting a flat to mildly positive opening, Ponmudi R, CEO at Enrich Mone, said that tracking a modest overnight recovery on Wall Street and a constructive tone across Asian markets in early trade, the Indian stock market is likely to see a flat to mildly positive start on Wednesday. However, the overall undertone is expected to remain cautious, as sentiment stays subdued amid persistent US–Iran geopolitical tensions and firm crude oil prices, which continue to pose a macroeconomic challenge for India. At the same time, ongoing concerns around AI-driven disruptions in global technology stocks are weighing on broader risk appetite.

“While the rebound in overseas markets offers some comfort heading into the open, geopolitical tensions, fresh tariff-related uncertainty following the US Supreme Court’s rejection of President Trump’s earlier reciprocal tariffs, and lingering AI-led concerns are likely to keep sentiment guarded at higher levels,” Ponmudi R of Enrich Money said.

Outlook of Nifty 50, Sensex today

On the outlook of the Nifty 50 / Sensex today, Shrikant Chouhan, Head Equity Research at Kotak Securities, said, “We are of the view that the intraday market texture is weak, but a fresh selloff is possible only after the market breaches the 200-day Simple Moving Average (SMA) or 25,350/82,000. If the market trades above this level, it could bounce back to 25,500-25,620/82,500-82,800. Conversely, if it falls below 25,350/82,000, it could slip to 25,250-25,200/81,700-81,500.”

Outlook of Bank Nifty today

Speaking on the outlook of the Bank Nifty today, Ponmudi R of Enrich Money said, “The Nifty Bank is displaying a slightly fragile near-term setup but has managed to hold above the crucial 61,000 mark. The index is encountering resistance in the 61,500–61,700 zone, aligned with recent swing highs, where supply from major private and PSU banking stocks is evident. Immediate support is placed around 60,900–60,600, near its recent intraday base.”

The Enrich Money expert said that a decisive breakout above the resistance band would confirm renewed strength and could trigger a recovery rally. Momentum indicators remain constructive, with RSI hovering around 56 and MACD in positive territory. As long as 60,600 is sustained, the broader bias remains positive, with the banking index likely to continue outperforming the broader market.

Donald Trump's State of the Union address

President Donald Trump is giving his State of the Union address. He’s slated to champion his immigration crackdowns, his slashing of the federal government, his push to preserve widespread tariffs that the Supreme Court just struck down and his ability to direct quick-hit military actions around the world, including in Iran and Venezuela.

Virginia Gov. Abigail Spanberger will give the Democratic Party response following Trump’s speech. California Sen. Alex Padilla, who made national headlines last year after being forced to the ground and handcuffed by federal agents, will deliver the party’s response in Spanish.

Gold, silver rates today

After ending lower on Tuesday, silver and gold rates today saw buying interest in the early morning trade in Asian markets. The COMEX gold rate today is 0.45% higher at $5,200/oz, whereas the COMEX silver rate today is over one per cent higher at $88.50/oz.

“Gold and silver rates are rising today following profit-booking in the US Dollar. The US Dollar Index is trading red, triggering fresh buying in precious metals. For a fresh uptrend, the COMEX gold rate today needs to sustain above $5,200/oz levels, whereas the COMEX silver rate today needs to sustain above $88/oz levels,” said Anuj Gupta, a SEBI-registered market expert.

FII-DII data

FIIs sold out Indian shares in cash worth ₹102.53 crore and shares worth ₹3,293.15 crore in the F&O segment on Tuesday. However, DII bought shares worth ₹3,161.22 crore in cash.

Stocks to buy today

Regarding stocks to buy today, stock 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 buying these eight buy-or-sell stocks: Jindal Steel, JB Chemical and Pharma, Coal India, NTPC, Tata Consumer Products, BHEL, Netweb Technologies India, RR Kabel.

Sumeet Bagadia's stock recommendations today

1] Jindal Steel: Buy at ₹1223, Target ₹1320, Stop Loss ₹1190; and

2] JB Chemical and Pharma: Buy at ₹2070, Target ₹2210, Stop Loss ₹2000.

Ganesh Dongre's buy or sell stocks

3] Coal India: Buy at ₹330, Target ₹345, Stop Loss ₹315;

4] NTPC: Buy at ₹382, Target ₹396, Stop Loss ₹373; and

5] Tata Consumer Products: Buy at ₹1180, Target ₹1230, Stop Loss ₹1160.

Shiju Koothupalakkal's intraday stocks for today

6] BHEL: Buy at ₹261.80, Target ₹277, Stop Loss ₹255;

7] Netweb Technologies India: Buy at ₹3563, Target ₹3720, Stop Loss ₹3490;

8] RR Kabel: Buy at ₹1502, Target ₹1580, Stop Loss ₹1465.

Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.