The Indian stock market experienced a significant surge on Friday, fueled by optimistic sentiments after U.S. President Donald Trump announced a temporary halt on tariffs affecting international trade partners. The Nifty 50 index kicked off the day at 22,695 and soared to close at 22,828, marking an impressive intraday increase of 429 points. Meanwhile, the BSE Sensex opened strongly at 74,835 and climbed to finish at 75,157, reflecting a remarkable rally of 1,310 points during the trading session. The Bank Nifty also enjoyed a robust performance, starting at 50,634 and closing at 50,995, which translates to a gain of more than 750 points.
Indian Stock Market Outlook
Commenting on the market’s trajectory, Siddhartha Khemka, Head of Research at Motilal Oswal, shared insights about the Indian stock market’s future. He stated, "We anticipate continued volatility in the Indian markets, driven by global market trends, updates regarding U.S. tariffs, and the upcoming Q4 corporate earnings announcements." This week is set to feature key results from major players such as ICICI Lombard, Infosys, HDFC Bank, and Yes Bank, among others.
Nifty 50 and Bank Nifty Predictions
Nagaraj Shetti, a Senior Technical Research Analyst at HDFC Securities, provided his perspective on the Nifty 50. He indicated that the short-term outlook remains optimistic, suggesting that a sustainable move beyond 22,900 to 23,000 could potentially propel the index towards targets of 23,400 to 23,500. He noted that immediate support for the Nifty stands at 22,700.
On the other hand, Hrishikesh Yedve, AVP of Technical and Derivatives Research at Asit C. Mehta, analyzed the Bank Nifty’s performance. He explained, "The Bank Nifty has successfully breached the critical resistance level between 50,750 and 50,800, forming a substantial bullish candle on both daily and weekly charts, indicating robust strength." He added that the breakout level of 50,750 will serve as immediate support, and if the index remains above this mark, it may rally toward 51,500 to 52,000. Therefore, he advises traders to consider a "buy on dips" strategy.
Top Stocks to Buy Under ₹100
For investors seeking stocks under ₹100, several market experts have highlighted promising options for intraday trading. Recommendations from notable figures in the industry include:
- Suzlon Energy: Buy at ₹53, target of ₹58, stop loss at ₹50.50 (Sumeet Bagadia, Choice Broking).
- NTPC Green Energy: Buy between ₹94 and ₹95, aiming for ₹106, with a stop loss at ₹88 (Mehul Kothari, Anand Rathi).
- Reliance Power: Buy at ₹40 with targets of ₹44, ₹48, and ₹52, and a stop loss at ₹36 (Mahesh M Ojha, Hensex Securities).
- Canara Bank: Purchase at ₹90 to ₹90.50, targeting ₹94, ₹96, and ₹100, with a stop loss at ₹87.80 (Mahesh M Ojha).
- NMDC: Buy at ₹61.80 with a target of ₹65.80, stop loss at ₹59.50 (Sugandha Sachdeva, SS WealthStreet).
With these insights and recommendations, investors can navigate the current market climate and make informed trading decisions.
