Stock market recap: Indian equities ended a volatile session nearly flat on Wednesday, with Nifty 50 edging up 9.75 points, or 0.04%, to 24,624.65, while Sensex slipped 31.59 points, by 0.04%, to 78,397.36. Early gains, driven by softer crude prices and hopes of an Iran-U.S. de-escalation over the Strait of Hormuz, were pared back as fresh West Asia conflict and profit-booking set in.

The RBI's rate panel, led by Governor Sanjay Malhotra, held the repo rate steady at 5.25%, raised its FY27 growth estimate to 6.7% and trimmed its inflation forecast to 5%, offering a steady policy backdrop. On the sectoral front, Autos, Realty, Financials, and PSU Banks attracted buying interest.

Meanwhile, IT, FMCG, Pharma and Private Banks faced selling pressure. Market breadth stayed constructive throughout the session, with advancing stocks outnumbering decliners by roughly 3:2 on the broader exchange, even as gains narrowed into the close. Brent crude holding below $80 along with a sixth straight day of foreign institutional buying lent further support.

Two stock recommendations by MarketSmith India:

Buy: Aequs Ltd (current price: ₹240)

• Why it’s recommended: Strong aerospace manufacturing presence, diversified precision engineering business, global OEM customer base, beneficiary of aerospace demand recovery, strong export-oriented revenue, high entry barriers in aerospace, expansion in electronics manufacturing, integrated manufacturing ecosystem, long-term defence opportunities, strong engineering capabilities, capacity expansion supporting growth, focus on value-added products, growing contract manufacturing business, long-term aviation growth tailwinds, and scalable business model.
• Key metrics: P/E: NA, 52-week high: ₹274.39, volume: ₹165.94 crore
• Technical analysis: 21-EMA retake
• Risk factors: Dependence on aerospace industry cycle, customer concentration risk, export market volatility, project execution delays, raw material price fluctuations, margin pressure from competition, working capital intensive operations, currency fluctuation impact, high capital expenditure requirements, supply chain disruptions, technology upgrading needs, dependence on global OEM demand, economic slowdown affecting aviation, earnings volatility from order timing, and valuation risk after listing.
• Buy: ₹238–241
• Target price: ₹280 in two to three months
• Stop loss: ₹227

Buy: Aster DM Quality Care Ltd (current price: ₹842)

• Why it’s recommended: Strong hospital and healthcare network, growing presence in India, beneficiary of rising healthcare demand, strong brand recognition, expansion in high-growth regions, asset-light diagnostic business support, healthy occupancy improvement potential, strong specialty healthcare services, growing medical tourism opportunities, expansion in premium healthcare, improving operational efficiency, strong cash flow potential, long-term healthcare growth tailwinds, experienced management team, and scalable business model.
• Key metrics: P/E: 97.52, 52-week high: ₹856.75, volume: ₹99.91 crore
• Technical analysis: Flat base pattern breakout
• Risk factors: High capital-intensive hospital business, regulatory changes in healthcare, rising employee and doctor costs, margin pressure from operating expenses, expansion execution risks, competition from hospital chains, occupancy rate fluctuations, delays in new hospital ramp-up, dependence on key medical professionals, insurance reimbursement risks, economic slowdown affecting elective procedures, technology and compliance costs, geographic concentration risk, valuation risk after re-rating, and earnings volatility during expansion phases.
• Buy at: ₹834–846
• Target price: ₹950 in two to three months
• Stop loss: ₹790

How Nifty 50 Performed

Indian equity markets ended on a flat but resilient note, with Nifty 50 closing at 24,624.65, up 9.75 points (+0.04%) after recovering sharply in the final hour of trade from an intraday low of 24,497.95. The benchmark opened at 24,669.20, touched a high of 24,677.60, and spent most of the session under pressure before late buying helped erase losses and push the index into positive territory. Market breadth remained constructive, with 1,974 stocks advancing, 1,394 declining, and 104 remaining unchanged, reflecting broader participation despite the benchmark's muted move. On the sectoral front, Nifty Metal (+1.72%) and Nifty Auto (+1.27%) outperformed, supported by buying in commodity and automobile stocks. In comparison, Media (-1.58%), Private Bank (-0.42%), FMCG (-0.29%), and IT (-0.16%) ended in the red, limiting the index's gains.

Nifty 50 ended on a flat note after testing the upper boundary of its intermediate falling trendline, forming a bearish daily candle that reflects selling pressure at higher levels. Despite today's decline, the index continues to trade above its short- and medium-term moving averages, suggesting that the broader recovery structure remains intact. Price action indicates that the recent rally has paused near a key trendline hurdle, and the market may consolidate before attempting its next directional move. From a momentum perspective, the Relative Strength Index (RSI) is positioned at 62, comfortably above the neutral 50 mark, indicating that bullish momentum remains intact despite the day's corrective move. Importantly, the RSI continues to hold above its signal average, reflecting underlying buying interest rather than a reversal in trend. Meanwhile, the MACD remains in positive territory, with the MACD line trading above the signal line and accompanied by positive histogram bars.

The index witnessed modest profit-booking after a decisive breakout above its downward-sloping trendline, indicating an improvement in the near-term technical structure. Following the breakout, the index rallied toward its 200-200-DMA at 24,774, a key long-term trend indicator that is likely to remain in focus. The broader price structure continues to favour the bulls, with the breakout suggesting a gradual shift in market sentiment. If the index sustains above 24,400, the positive momentum is expected to remain intact, opening the possibility of an extension toward 25,000–25,200 over the coming sessions. On the downside, 24,500–24,400 is expected to provide a strong cushion, and any corrective decline toward this zone is likely to attract fresh buying interest, thereby preserving the prevailing bullish bias.

How Nifty Bank Performed

Nifty Bank opened on a negative note and remained under mild selling pressure throughout the session with profit-booking emerging after testing the intraday high. The index opened at 57,810.05, touched an intraday high of 57,931.85, slipped to a low of 57,456.35, and eventually settled at 57,739.95, down 167.25 points (-0.29%). Although buyers attempted to defend the lower levels during the day, the recovery lacked enough momentum to push the index into positive territory, resulting in a marginally weak close. It continues to trade above the 21-, 50-, and 100-DMA while remaining close to the 200-DMA, indicating a phase of consolidation rather than a decisive trend. The recent price action resembles a sideways consolidation near an important resistance zone, suggesting that participants are awaiting a fresh trigger before initiating directional positions.

Momentum indicators present a mixed picture. The RSI is placed at 53.62, remaining above the neutral 50 mark, indicating that bullish momentum is still intact but has moderated after the recent rally. Meanwhile, the MACD remains in positive territory, although the histogram has been shrinking and the MACD line is converging towards the signal line, reflecting weakening upside momentum. No major bearish divergence is visible at present, but the loss of momentum suggests caution. Unless momentum indicators strengthen again, the index could continue witnessing range-bound movement with stock-specific opportunities dominating the broader trend.

On the technical front, 57,450–57,500 is likely to act as the immediate support zone, followed by 57,000 and 56,850 (around the 50 DMA). On the upside, 57,950–58,000 remains the first resistance, while a sustained move above this hurdle could open the path towards 58,300–58,500 in the coming sessions. The ongoing earnings season, institutional fund flows and global market sentiment will remain important near-term catalysts. Technically, the broader structure remains constructive as long as the index holds above its key support levels. However, a decisive breakout above the recent consolidation range is required to confirm the next leg of the uptrend. Until then, traders may continue to witness a consolidation phase with intermittent bouts of volatility.

MarketSmith India is a stock research platform and advisory service focused on the Indian stock market. It offers tools and resources to help investors make informed decisions based on the CAN SLIM methodology, founded by legendary investor William J. O'Neil. You can access a 10-day free trial by registering on its website.

Trade name: William O’Neil India Pvt. Ltd.

Sebi Registration No.: INH000015543

Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before making any investment decisions.

Stock market recap: Indian equities ended a volatile session nearly flat on Wednesday, with Nifty 50 edging up 9.75 points, or 0.04%, to 24,624.65, while Sensex slipped 31.59 points, by 0.04%, to 78,397.36. Early gains, driven by softer crude prices and hopes of an Iran-U.S. de-escalation over the Strait of Hormuz, were pared back as fresh West Asia conflict and profit-booking set in.

The RBI's rate panel, led by Governor Sanjay Malhotra, held the repo rate steady at 5.25%, raised its FY27 growth estimate to 6.7% and trimmed its inflation forecast to 5%, offering a steady policy backdrop. On the sectoral front, Autos, Realty, Financials, and PSU Banks attracted buying interest.

Meanwhile, IT, FMCG, Pharma and Private Banks faced selling pressure. Market breadth stayed constructive throughout the session, with advancing stocks outnumbering decliners by roughly 3:2 on the broader exchange, even as gains narrowed into the close. Brent crude holding below $80 along with a sixth straight day of foreign institutional buying lent further support.

Two stock recommendations by MarketSmith India:

Buy: Aequs Ltd (current price: ₹240)

• Why it’s recommended: Strong aerospace manufacturing presence, diversified precision engineering business, global OEM customer base, beneficiary of aerospace demand recovery, strong export-oriented revenue, high entry barriers in aerospace, expansion in electronics manufacturing, integrated manufacturing ecosystem, long-term defence opportunities, strong engineering capabilities, capacity expansion supporting growth, focus on value-added products, growing contract manufacturing business, long-term aviation growth tailwinds, and scalable business model.
• Key metrics: P/E: NA, 52-week high: ₹274.39, volume: ₹165.94 crore
• Technical analysis: 21-EMA retake
• Risk factors: Dependence on aerospace industry cycle, customer concentration risk, export market volatility, project execution delays, raw material price fluctuations, margin pressure from competition, working capital intensive operations, currency fluctuation impact, high capital expenditure requirements, supply chain disruptions, technology upgrading needs, dependence on global OEM demand, economic slowdown affecting aviation, earnings volatility from order timing, and valuation risk after listing.
• Buy: ₹238–241
• Target price: ₹280 in two to three months
• Stop loss: ₹227

Buy: Aster DM Quality Care Ltd (current price: ₹842)

• Why it’s recommended: Strong hospital and healthcare network, growing presence in India, beneficiary of rising healthcare demand, strong brand recognition, expansion in high-growth regions, asset-light diagnostic business support, healthy occupancy improvement potential, strong specialty healthcare services, growing medical tourism opportunities, expansion in premium healthcare, improving operational efficiency, strong cash flow potential, long-term healthcare growth tailwinds, experienced management team, and scalable business model.
• Key metrics: P/E: 97.52, 52-week high: ₹856.75, volume: ₹99.91 crore
• Technical analysis: Flat base pattern breakout
• Risk factors: High capital-intensive hospital business, regulatory changes in healthcare, rising employee and doctor costs, margin pressure from operating expenses, expansion execution risks, competition from hospital chains, occupancy rate fluctuations, delays in new hospital ramp-up, dependence on key medical professionals, insurance reimbursement risks, economic slowdown affecting elective procedures, technology and compliance costs, geographic concentration risk, valuation risk after re-rating, and earnings volatility during expansion phases.
• Buy at: ₹834–846
• Target price: ₹950 in two to three months
• Stop loss: ₹790

How Nifty 50 Performed

Indian equity markets ended on a flat but resilient note, with Nifty 50 closing at 24,624.65, up 9.75 points (+0.04%) after recovering sharply in the final hour of trade from an intraday low of 24,497.95. The benchmark opened at 24,669.20, touched a high of 24,677.60, and spent most of the session under pressure before late buying helped erase losses and push the index into positive territory. Market breadth remained constructive, with 1,974 stocks advancing, 1,394 declining, and 104 remaining unchanged, reflecting broader participation despite the benchmark's muted move. On the sectoral front, Nifty Metal (+1.72%) and Nifty Auto (+1.27%) outperformed, supported by buying in commodity and automobile stocks. In comparison, Media (-1.58%), Private Bank (-0.42%), FMCG (-0.29%), and IT (-0.16%) ended in the red, limiting the index's gains.

Nifty 50 ended on a flat note after testing the upper boundary of its intermediate falling trendline, forming a bearish daily candle that reflects selling pressure at higher levels. Despite today's decline, the index continues to trade above its short- and medium-term moving averages, suggesting that the broader recovery structure remains intact. Price action indicates that the recent rally has paused near a key trendline hurdle, and the market may consolidate before attempting its next directional move. From a momentum perspective, the Relative Strength Index (RSI) is positioned at 62, comfortably above the neutral 50 mark, indicating that bullish momentum remains intact despite the day's corrective move. Importantly, the RSI continues to hold above its signal average, reflecting underlying buying interest rather than a reversal in trend. Meanwhile, the MACD remains in positive territory, with the MACD line trading above the signal line and accompanied by positive histogram bars.

The index witnessed modest profit-booking after a decisive breakout above its downward-sloping trendline, indicating an improvement in the near-term technical structure. Following the breakout, the index rallied toward its 200-200-DMA at 24,774, a key long-term trend indicator that is likely to remain in focus. The broader price structure continues to favour the bulls, with the breakout suggesting a gradual shift in market sentiment. If the index sustains above 24,400, the positive momentum is expected to remain intact, opening the possibility of an extension toward 25,000–25,200 over the coming sessions. On the downside, 24,500–24,400 is expected to provide a strong cushion, and any corrective decline toward this zone is likely to attract fresh buying interest, thereby preserving the prevailing bullish bias.

How Nifty Bank Performed

Nifty Bank opened on a negative note and remained under mild selling pressure throughout the session with profit-booking emerging after testing the intraday high. The index opened at 57,810.05, touched an intraday high of 57,931.85, slipped to a low of 57,456.35, and eventually settled at 57,739.95, down 167.25 points (-0.29%). Although buyers attempted to defend the lower levels during the day, the recovery lacked enough momentum to push the index into positive territory, resulting in a marginally weak close. It continues to trade above the 21-, 50-, and 100-DMA while remaining close to the 200-DMA, indicating a phase of consolidation rather than a decisive trend. The recent price action resembles a sideways consolidation near an important resistance zone, suggesting that participants are awaiting a fresh trigger before initiating directional positions.

Momentum indicators present a mixed picture. The RSI is placed at 53.62, remaining above the neutral 50 mark, indicating that bullish momentum is still intact but has moderated after the recent rally. Meanwhile, the MACD remains in positive territory, although the histogram has been shrinking and the MACD line is converging towards the signal line, reflecting weakening upside momentum. No major bearish divergence is visible at present, but the loss of momentum suggests caution. Unless momentum indicators strengthen again, the index could continue witnessing range-bound movement with stock-specific opportunities dominating the broader trend.

On the technical front, 57,450–57,500 is likely to act as the immediate support zone, followed by 57,000 and 56,850 (around the 50 DMA). On the upside, 57,950–58,000 remains the first resistance, while a sustained move above this hurdle could open the path towards 58,300–58,500 in the coming sessions. The ongoing earnings season, institutional fund flows and global market sentiment will remain important near-term catalysts. Technically, the broader structure remains constructive as long as the index holds above its key support levels. However, a decisive breakout above the recent consolidation range is required to confirm the next leg of the uptrend. Until then, traders may continue to witness a consolidation phase with intermittent bouts of volatility.

MarketSmith India is a stock research platform and advisory service focused on the Indian stock market. It offers tools and resources to help investors make informed decisions based on the CAN SLIM methodology, founded by legendary investor William J. O'Neil. You can access a 10-day free trial by registering on its website.

Trade name: William O’Neil India Pvt. Ltd.

Sebi Registration No.: INH000015543

Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before making any investment decisions.