The stock market experienced a turbulent session on Monday, with the benchmark Nifty-50 index closing 0.4% lower at 22,460.30. The Bank Nifty also faced a decline, dropping 0.58% to settle at 48,216.80. Many sectors, including Realty, Oil & Gas, and Consumer Durables, contributed to the downturn, with broader indices reflecting losses of 1-2%.

Market Outlook for Tuesday

As we look ahead, the Nifty 50 index appears to be retracing its recent gains between the levels of 21,964 and 22,677. Analysts suggest it may drift toward the Fibonacci retracement levels of 22,405 and 22,320. On the upside, potential resistance is expected between 22,800 and 23,000. Jatin Gedia, a Technical Research Analyst at Mirae Asset Sharekhan, emphasized that crucial support lies around 22,250 to 22,230.

For the Bank Nifty, trading is predicted to remain within the range of 47,800 to 49,000 in the upcoming sessions, with any breakout or breakdown signaling the next directional move, as noted by Bajaj Broking.

Global Market Influences

The market is likely to remain in a narrow range due to the absence of significant domestic triggers. Investors will be keeping a close eye on global developments, including U.S. tariffs and geopolitical negotiations, which could impact the U.S. dollar and crude oil prices, according to Siddhartha Khemka, Head of Research at Motilal Oswal Financial Services Ltd.

Recommended Stocks to Watch

Several experts have shared stock recommendations for today. Sumeet Bagadia from Choice Broking has highlighted two stocks, while Ganesh Dongre from Anand Rathi and Shiju Koothupalakkal from Prabhudas Lilladher have each provided three stock picks.

Sumeet Bagadia’s Top Picks

• Sarda Energy & Minerals Ltd

  • Buy at: ₹505.05
  • Stoploss: ₹485
  • Target Price: ₹540
    Strong upward momentum is evident in Sarda Energy, which has shown consistent higher highs and is stabilizing near its all-time high, indicating potential for another breakout.
• Vimta Labs Ltd
  • Buy at: ₹1,003.05
  • Stoploss: ₹965
  • Target Price: ₹1,075
    After a phase of consolidation, Vimta Labs has broken key resistance levels and is expected to continue its upward trajectory.

Ganesh Dongre’s Stock Recommendations

• Tata Consumer Products Ltd

  • Buy at: ₹958
  • Stop Loss: ₹945
  • Target Price: ₹978
    The stock is currently in the oversold zone, with a bullish reversal pattern indicating a potential rise towards ₹978.

• Sun Pharmaceutical Industries Ltd

  • Buy at: ₹1,615
  • Stop Loss: ₹1,585
  • Target Price: ₹1,650
    Sun Pharma shows promising signs of a bullish reversal, with expectations of upward movement.
• Cipla Ltd
  • Buy at: ₹1,460
  • Stop Loss: ₹1,435
  • Target Price: ₹1,520
    This stock is also demonstrating a bullish reversal pattern, suggesting a possible price increase.

Shiju Koothupalakkal’s Intraday Picks

• Thomas Cook (India) Ltd

  • Buy at: ₹1,143.40
  • Stop Loss: ₹1,120
  • Target Price: ₹1,185
    Following a recovery from lower levels, the stock is well-positioned for further gains.

• Carborundum Universal Ltd

  • Buy at: ₹948.50
  • Target Price: ₹990
  • Stop Loss: ₹930
    This stock has shown a strong V-shaped recovery, indicating a favorable risk-reward scenario.
• Hindustan Unilever Ltd
  • Buy at: ₹2,247
  • Target Price: ₹2,330
  • Stop Loss: ₹2,200
    Following a lower bottom formation, the stock is showing signs of recovery and upward potential.

Investors are encouraged to keep these insights in mind as they navigate the current market landscape, with opportunities emerging even amidst volatility.