On a day of positive global signals, the Nifty-50 index saw a notable increase of 0.63%, closing at 24,319.35. In contrast, the Bank Nifty slipped by 0.5%, ending at 55,370.05. Encouraging gains were noted across several sectors, particularly in IT and Automobile, with mid and small-cap stocks witnessing a rise of up to 1.18%.

Trade Insights for Thursday

Resistance and Support Levels for Nifty

Market analysts have identified immediate resistance for the Nifty at 24,545, marking a significant 61.8% retracement from its previous high of 26,277 to a low of 21,743 recorded on April 7, 2025. On the other hand, support has shifted upward to 24,072, according to Nandish Shah, Deputy Vice President at HDFC Securities.

For the Bank Nifty, a crucial support range is positioned between 54,000 and 53,500, as noted by Bajaj Broking.

Global Market Trends and Earnings Reports

The Indian stock market maintained its upward trajectory, buoyed by favorable IT earnings and optimistic future projections. However, there was a noticeable trend of profit booking in the financial sector following a recent rally. Amid easing US-China trade tensions and a surge in US tech stocks, global market sentiment has remained robust.

Vinod Nair, Head of Research at Geojit Investments, pointed out that mixed Q4 earnings and increasing crude oil prices, along with the Indian market’s recent outperformance, could lead to some consolidation in the near future.

Top Stock Picks for Today

Sumeet Bagadia, Executive Director at Choice Broking, has identified two key stocks to consider today, while Ganesh Dongre, Senior Manager of Technical Research at Anand Rathi, recommends three additional stocks. Shiju Koothupalakkal, Senior Manager at Prabhudas Lilladher, has also provided two stock recommendations.

Recommended Stocks by Sumeet Bagadia

• AU Small Finance Bank Ltd: Suggested to buy at ₹665.45, with a stop loss at ₹640 and a target price of ₹710. The stock is showing signs of reversing its downward trend, breaking past crucial resistance levels, indicating renewed buying interest.

• Home First Finance Company India Ltd: Recommended for purchase at ₹1301.10, with a stop loss at ₹1250 and a target of ₹1380. The stock is currently in a strong bullish trend, suggesting a continued upward movement after recent consolidation.

Stocks Recommended by Ganesh Dongre

• Bajaj Finance Ltd: Buy at ₹9320, with a stop loss at ₹9150 and a target of ₹9600. Positive patterns indicate a potential rise, making it an attractive buying opportunity.

• Canara Bank: Suggested to buy at ₹99, with a stop loss at ₹95 and a target price of ₹105. The stock is showing signs of a bullish reversal, presenting a good chance for investors.

• Punjab National Bank: Recommended at ₹103, with a stop loss at ₹97 and a target of ₹108. This stock has also shown a bullish reversal pattern, signaling a buying opportunity.

Insights from Shiju Koothupalakkal

• Maruti Suzuki India Ltd: Recommended at ₹11,907, targeting ₹12,500 with a stop loss at ₹11,700. The stock has demonstrated strong volume and positive chart patterns, indicating further potential upward movement.

• GlaxoSmithKline Pharmaceuticals Ltd: Suggested to buy at ₹2,846, targeting ₹3,000 with a stop loss at ₹2,790. After a brief profit-taking period, the stock has shown signs of a positive move, supported by strong volume.

• Godrej Consumer Products Ltd: Buy at ₹1,268, with a target price of ₹1,330 and a stop loss at ₹1,240. This stock has broken out of a consolidation phase, indicating a bullish trend ahead.

By staying updated with these market movements and expert recommendations, investors can make informed decisions to navigate today’s trading landscape efficiently.