The Indian stock market experienced a downturn as it wrapped up the fiscal year on March 28, 2025. Concerns over potential tariffs from US President Donald Trump kept investors on edge, leading to a decline in major indices. The Nifty 50 index finished the trading day down by 72 points, landing at 23,519.35, while the BSE Sensex fell by 191 points to 77,414.92. Additionally, the Nifty Bank index saw a slight dip, closing at 51,564.
Market Sentiment and Future Outlook
Siddhartha Khemka, the Head of Research in Wealth Management at Motilal Oswal, shared insights on the current market conditions. He noted that Foreign Institutional Investors (FIIs) had been net buyers of over ₹11,000 crore on Thursday, which positively influenced the market sentiment. As the Indian market looks ahead, all eyes are on the ongoing US-India trade discussions, which could shape the trading landscape in the coming days.
Khemka emphasized that the market is likely to remain in a phase of consolidation but could maintain a positive trend, depending on continued FII interest.
Technical Analysis of Nifty 50 and Nifty Bank
Nagaraj Shetti, a Senior Technical Research Analyst at HDFC Securities, provided an analysis of the Nifty 50. Shetti indicated that the index’s short-term upward trend is still intact despite a recent pullback. He identified 23,400 as immediate support, while resistance levels are expected around 23,650 and 23,850 for the week.
In terms of the Nifty Bank, Hrishikesh Yedve from Asit C. Mehta noted the formation of a small red candle on the daily chart, but a green candle on the weekly scale suggests underlying strength. Yedve pointed out that the index is above the 200-day Simple Moving Average (200-DSMA), which bodes well for future performance. Key resistance levels are set at 51,850 and 52,000, and maintaining a "buy on dips" strategy is advisable as long as the index remains above the 200-DSMA support of 51,000.
Top Stock Picks Under ₹100
For investors looking to enhance their portfolios with stocks priced under ₹100, several experts have highlighted promising options for today.
- MGEL: Recommended buy price at ₹15.12, with a target of ₹16.30 and a stop loss at ₹14.60.
- PILITA: Suggested buy price of ₹14.54, targeting ₹15.60 and a stop loss at ₹14.
- Filatex India: Buy at ₹37, with a target of ₹38.70 and a stop loss at ₹36.20.
- Morepen Laboratories: Buy at ₹48.50, targeting ₹51 with a stop loss set at ₹47.
These stocks present potential opportunities for investors seeking low-cost entries into the market. With careful monitoring of market trends and strategic buying, now may be an opportune moment to capitalize on these recommendations.
