The Indian stock market experienced a remarkable surge on Friday, fueled by optimism following U.S. President Donald Trump’s announcement of a 90-day pause on recently imposed tariffs against trade partners. This announcement ignited a wave of positive sentiment, leading to significant gains across major indices. The Nifty 50 surged from an opening of 22,695 to close at 22,828, marking an impressive increase of 429 points. Similarly, the BSE Sensex opened at 74,835 and closed at 75,157, achieving a staggering 1,310-point rally during the trading day. The Bank Nifty also saw a gap-up opening at 50,634, ultimately closing at 50,995, with over 750 points gained throughout the day.

Market Outlook and Analysis

Vaishali Parekh, Vice President of Technical Research at Prabhudas Lilladher, expressed a positive outlook for the Indian stock market. According to Parekh, the close above 22,800 for the Nifty 50 indicates a bullish shift, but a more convincing trend will require a decisive break above the 23,000 mark. She stated, "The Nifty 50 demonstrated a robust performance, closing above the 22,800 level and showing signs of exiting the descending channel pattern. This shift enhances the overall sentiment, suggesting the possibility of further gains in the upcoming sessions."

Key Resistance and Support Levels

Parekh noted that the Nifty’s immediate resistance lies at 23,100, while support is observed at 22,700. For the Bank Nifty, she indicated a trading range between 50,500 and 51,700. The potential for the Bank Nifty to break through the 52,000 level could signal a fresh upward movement.

Recommendations for Investors

For those looking to navigate the market, Parekh provided three stock suggestions for buying:

• Jio Financial Services: Buy at ₹230, target ₹260, with a stop loss at ₹222.
• Coal India: Buy at ₹392, target ₹415, with a stop loss at ₹382.
• Texmaco Rail: Buy at ₹134, target ₹145, with a stop loss at ₹128.

As the market reacts to the latest developments, investors are encouraged to stay informed about trends and adjustments that may impact their portfolios. With the current momentum, the Indian stock market could be poised for further excitement in the weeks ahead.

Stay tuned for more updates as the situation evolves and market dynamics shift.