The Indian stock market began Wednesday’s trading session on a positive note, with both the Nifty 50 and Sensex indices showing slight gains. This uptick comes after a tumultuous period where the markets faced their worst performance in a month. Investors are currently on high alert, awaiting significant tariff announcements from U.S. President Donald Trump. As of 9:15 AM IST, the Nifty 50 rose by 0.12%, reaching 23,192.6, while the Sensex climbed by 0.16% to 76,146.28.

Market Sentiment and Tariff Uncertainty

Dr. VK Vijayakumar, Chief Investment Strategist at Geojit Investments, highlighted that today’s expected tariff announcements may alleviate some of the ongoing uncertainty regarding reciprocal tariffs. However, given Trump’s history of fluctuating tariff policies, caution remains prevalent among investors.

• Recent Market Performance:
  • Nifty 50: Down 353 points yesterday.
  • Foreign Institutional Investors (FIIs): Became net buyers at the end of March, but have since sold off ₹10,255 crores in two days.

Nifty 50 Forecast: Insights by Sagar Doshi

Sagar Doshi, Senior Vice President at Nuvama Professional Clients Group, provided an outlook on the Nifty 50. After surging nearly 1,900 points from its nine-month low in March, it has retraced 38.2% of this gain. Doshi suggests that further retracement could reach 50% due to current uncertainties surrounding tariff announcements.

• Key Levels:
  • Support Zone: 22,900 – 23,000.
  • Target for Month-End: Eyes on reaching 24,000.

Bank Nifty Trends

The Bank Nifty followed a similar trajectory, sliding 1.5% in Tuesday’s trading. Having recently tested a significant support level below 51,000, this index is poised for a rebound. Any dips within the range of 49,900 to 50,400 are viewed as potential buying opportunities, with a target of 52,500 in sight, given its robust performance relative to the Nifty 50 over the past six months.

Stock Recommendations for Wednesday

For investors looking to make informed decisions, Sagar Doshi has recommended three stocks to consider:

• Balrampur Chini Mills Ltd (BUY):

  • Last Closing Price: ₹556.95
  • Stop Loss: ₹532
  • Target Price: ₹596
  • Insight: The stock has broken above its 200 DMA resistance, signaling a potential uptrend.

• PCBL Chemical Ltd (BUY):

  • Last Closing Price: ₹423.90
  • Stop Loss: ₹405
  • Target Price: ₹470
  • Insight: A fresh momentum breakout is anticipated if it trades above the ₹430 resistance.
• Bikaji Foods International Ltd (BUY):
  • Last Closing Price: ₹691.95
  • Stop Loss: ₹665
  • Target Price: ₹760
  • Insight: The stock shows signs of bottoming out and may rise 8-10% as it approaches its 200 DMA resistance.

Conclusion

Investors are advised to stay vigilant as the market navigates through the uncertainties of tariff implications and upcoming economic events. With a cautious yet optimistic outlook, the focus remains on identifying opportunities in this dynamic market environment.