Stock market today: Trade setup for Nifty 50 to India-Pakistan tension; nine stocks to buy or sell on Friday

Stock Market Today: The benchmark Nifty-50 index ended 0.58% lower at 24,273.80 on Thursday. Bank Nifty at 54,365.65 was also down 0.45% as most other indices, led by realty, metal, and auto, while IT was the only key gainer. Broader indices saw 1.5-2% correction.

Trade Setup for Friday

The near-term sentiment now appears weak, with the potential for further correction in the short term. Immediate support for Nifty is seen at 23,950; a break below this level could lead the index down towards 23,450. On the upside, resistance is placed at 24,400 and 24.550, said Rupak De, Senior Technical Analyst at LKP Securities

For the Bank Nifty, immediate resistance is placed at 55,000, followed by 56,000, while key support lies at 53,890, as per Hrishikesh Yedve, AVP Technical and Derivatives Research at Asit C. Mehta Investment Interrmediates.

Global Markets and Q4 Results

Heightened border tensions and weak global cues dragged down markets and the rupee. Investors are advised to stay cautious, avoid aggressive positions, and focus on fundamentally strong stocks with limited near-term exposure to geopolitical risks. Defensive sectors and quality large caps may offer better stability in the current environment, as per Vikram Kasat, Head - Advisory, PL Capital.

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. Sugandha Sachdeva, Founder of SS WealthStreet recommended selling NMDC shares.

These include Asahi Songwon Colors Ltd, Privi Speciality Chemicals Ltd, ITC Ltd, Nestle India Ltd, Hindustan Aeronautics Ltd (HAL), Clean Science and Technology Ltd. Sequent Scientific Ltd and Varroc Engineering Ltd.

Sumeet Bagadia's stock picks

1.Asahi Songwon Colors Ltd- Bagadia recommends buying Asahi Songwon Colors at around 402 keeping Stoploss at ₹ 387 TGT 430

ASAHISONG showcases a strong bullish momentum, evident from a substantial upward movement and a significant closing around ₹402. The stock has been experiencing robust buying interest, and a consolidation breakout with strong volume, signaling bullish momentum and potential upside continuation.

2. Privi Speciality Chemicals Ltd - Bagadia recommends buying Privi Speciality Chemicals for a target price of ₹2124 keeping Stoploss at ₹2065 for a target price of ₹2290

PRIVISCL is exhibiting strong bullish momentum, currently trading at a 52 week high of 2187 levels. PRIVISCL Ltd surged nearly 8%, indicating firm buying interest throughout the session. PRIVISCL has been on a robust upward trajectory since its March low, where the stock bottomed out around the ₹1,368 zone. Since then, it has rallied more than 60% in a little over a month, consistently forming higher highs and higher lows—a classic bullish pattern

Ganesh Dongre's stocks to buy today

3. ITC Ltd- Dongre recommends buying ITC at around ₹430 keeping Stoploss at ₹415 for a target price of ₹445

In the short-term trend outlook, ITC is displaying a strong bullish setup, making it a compelling buy candidate. On the daily chart, the stock has formed a Bullish Engulfing pattern—a classic signal indicating a potential reversal following recent corrective action. The stock is currently holding key support near ₹ 415 and offers a favorable entry opportunity in the ₹ 430. Technical indicators suggest momentum may build toward the ₹445 target, with a prudent stop-loss to be maintained at ₹ 415 to manage downside risk.

4. Nestle India Ltd- Dongre recommends buying Nestle at around ₹350 keeping Stoploss at around ₹2280 for a target price of ₹ 2450

NESTLEIND has shown encouraging signs of a trend reversal on its daily chart, forming a Bullish Engulfing pattern after a period of decline. The stock is indicating renewed buying interest at lower levels. With strong support around ₹ 2280, NESTLEIND offers a short-term buying opportunity at ₹ 2350, aiming for a target of ₹2450 while keeping a stop-loss at ₹ 2280.

5. Hindustan Aeronautics Ltd (HAL) - Dongre recommends buying Hindustan Aeronautics Ltd or HAL at around ₹4422 keeping Stoploss at ₹4350 for a target price of ₹4620.

SBI is showing a bullish reversal candlestick pattern near its crucial support zone, signaling that recent selling may be losing steam. The stock is trading well above its 50-day EMA, further supporting the positive bias. With a current level around ₹ 4422, HAL presents a buying opportunity for a potential move toward ₹ 4620, with a protective stop-loss recommended at ₹ 4350 to limit downside exposure.

Shiju Koothupalakkal's intraday stocks for today

6. Clean Science and Technology Ltd- Koothupalakkal' recommends buying Clean Science and Technology at around ₹1192 fo a target price of ₹1240 keeping Stoploss at ₹1170

The stock after a short span of consolidation witnessed a pullback during the session with improvement in bias and can expect for further positive move in the coming session. The RSI is currently well placed and has indicated a positive trend reversal to signal a buy and can carry on with the positive move further ahead. With the chart technically looking good, we suggest to buy the stock for an upside target of ₹1240 level keeping the stop loss of ₹1170 level.

7. Sequent Scientific Ltd- Koothupalakkal recommends buying Sequent Scientific at around ₹155 for a target price of ₹163 keeping Stop loss at ₹152

The stock has witnessed a decent pick up from the low made near ₹118 level and has moved past the important 50EMA at 148 zone and with currently the bias getting better, we anticipate further rise in the coming sessions. The RSI is steadily on the rise indicating strength and is well placed to anticipate for another fresh round of upward move. With the chart technically well positioned, we suggest to buy the stock for an upside target of ₹163 level keeping the stop loss of   ₹152 level.

8. Varroc Engineering Ltd- Koothupalakkal recommends buying VARROC ENGINEERING   at around   ₹460  for a target of ₹485  keeping Stop loss at ₹448.

The stock has indicated a higher bottom formation on the daily chart taking support near ₹418 level and with series of positive candle set up moving past the important 50EMA at ₹451 level, has improved the bias anticipating for further rise. The RSI is well positioned and indicated a positive trend reversal to signal a buy with much upside potential visible. With the chart looking good, we suggest to buy the stock for an upside target of ₹485 keeping the stop loss of ₹448 level.

Sugandha Sachdeva's stock pick

9. NMDC: Sell at ₹63.50, Target ₹59.80, Stop Loss ₹65.50.

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 taking any investment decisions.