The stock market kicked off the week with impressive gains, showcasing a positive trend as the benchmark Nifty-50 Index surged 1.15% to settle at 24,125.55. The Bank Nifty also saw a substantial increase, climbing 1.57% to reach 55,304.50. Sectors such as IT, Realty, and Oil & Gas contributed to this upward momentum, with only the FMCG sector lagging behind. Broader market indices experienced similar gains, ranging from 2% to 2.5%.
Market Outlook for Tomorrow
With the Nifty surpassing the significant resistance level of 24,100, analysts are optimistic about its potential to hit the 24,450–24,500 range in the near future. However, support is anticipated at 23,850, according to Rupak De, a Senior Technical Analyst at LKP Securities. Furthermore, Bajaj Broking notes that a breakout in the 54,000-53,500 range should now function as a support level.
Global Influences and Earnings Reports
Investor sentiment remains buoyant, fueled by U.S. Vice President JD Vance’s upcoming four-day visit to India, which is expected to pave the way for a bilateral trade agreement. Siddhartha Khemka, Head of Research at Motilal Oswal Financial Services, indicates that the market’s positive trajectory is likely to persist, driven by robust domestic indicators and sector-specific movements linked to ongoing Q4 earnings. Key companies expected to report results tomorrow include HCL Tech, Havells, and Tata Communications.
Stock Picks for Today
Investment experts have highlighted several stocks worth considering today. Sumeet Bagadia, Executive Director at Choice Broking, has identified two promising stocks, while Ganesh Dongre from Anand Rathi has suggested three options. Additionally, Shiju Koothupalakkal from Prabhudas Lilladher also provided two recommendations. Here’s a look at the noteworthy stock selections:
- Sudarshan Chemical Industries Ltd
- Bharti Hexacom Ltd
- Indian Railway Catering and Tourism Corporation Ltd (IRCTC)
- Aditya Birla Capital Ltd
- Usha Martin Ltd
- Lemon Tree Hotels Ltd
- Himatsingka Seide Ltd
- Zee Entertainment Enterprises Ltd
Sumeet Bagadia’s Recommendations
-
Sudarshan Chemical Industries Ltd
- Current Price: ₹1,091.65
- Target Price: ₹1,165
- Stop Loss: ₹1,050
- Analysis: Following a period of consolidation, Sudarshan has shown a bullish breakout, indicating a potential upward trend. The stock has recently achieved a multi-month high, suggesting renewed investor interest.
- Bharti Hexacom Ltd
- Current Price: ₹1,643.90
- Target Price: ₹1,750
- Stop Loss: ₹1,585
- Analysis: Bharti Hexacom is experiencing strong momentum, trading near all-time highs. A recent breakout above critical resistance levels indicates a promising outlook for investors.
Ganesh Dongre’s Stock Selections
-
Indian Railway Catering and Tourism Corporation Ltd (IRCTC)
- Current Price: ₹774
- Target Price: ₹800
- Stop Loss: ₹760
- Analysis: IRCTC has shown signs of a bullish reversal pattern, presenting a buying opportunity at current levels, with expectations of reaching ₹800.
-
Aditya Birla Capital Ltd
- Current Price: ₹204
- Target Price: ₹220
- Stop Loss: ₹195
- Analysis: A bullish pattern has emerged here as well, indicating potential growth towards ₹220.
- Usha Martin Ltd
- Current Price: ₹313
- Target Price: ₹330
- Stop Loss: ₹303
- Analysis: The stock’s positive trend suggests a potential rise to ₹330, making it an attractive buy at current levels.
Shiju Koothupalakkal’s Intraday Picks
-
Lemon Tree Hotels Ltd
- Current Price: ₹147.30
- Target Price: ₹155
- Stop Loss: ₹144
- Analysis: A breakout above resistance levels signals further upside potential.
-
Himatsingka Seide Ltd
- Current Price: ₹151.80
- Target Price: ₹164
- Stop Loss: ₹148
- Analysis: The stock is positioned for growth, with a solid technical foundation.
- Zee Entertainment Enterprises Ltd
- Current Price: ₹118.75
- Target Price: ₹127
- Stop Loss: ₹116
- Analysis: Recent trading activity indicates a positive trend, making it a favorable buy.
As market dynamics evolve, investors are advised to stay informed and consider these recommendations for potential gains.
