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The stock market exhibited a consolidation phase amidst lingering concerns over tariffs, as the Nifty 50 index concluded the trading session with a marginal decrease of 0.18%, settling at 25,476.10. The Bank Nifty also experienced a slight decline of 0.07%, closing at 57,213.55. Sectoral performance was varied, with the IT, Metals, and Realty sectors facing downward pressure, while the FMCG and auto sectors demonstrated resilience and emerged as key gainers. In the broader market landscape, small-cap stocks outperformed, registering gains exceeding 0.5%, while mid-cap stocks experienced a slight dip. Market analysts suggest that the Nifty's breakout zone lies at 25,550, surpassing which could potentially trigger a rally towards the 25,650-25,725 range. Conversely, a breach of the 25,400 level could intensify selling pressure, according to Shrikant Chouhan, Head of Equity Research at Kotak Securities. For the Bank Nifty, a critical support region is identified within the 56,000–55,500 range, as highlighted by Bajaj Broking. Global market sentiment remains cautious, primarily influenced by ongoing developments related to US tariffs and the commencement of the Q1 earnings season. Indian markets are currently adopting a wait-and-watch approach, closely monitoring the progress and outcome of the India-US mini trade deal, which is anticipated to significantly influence the near-term market direction, as per Siddhartha Khemka, Head of Research at Motilal Oswal Financial Services Ltd. The article also presented several stock recommendations from different market experts for intraday trading. These recommendations included: Thejo Engineering Limited and AGI Infra Ltd. by Sumeet Bagadia, Executive Director at Choice Broking; National Aluminium Company Ltd, Axis Bank, and Cholamandalam Investment and Finance Company Ltd. by Ganesh Dongre, Senior Manager of Technical Research at Anand Rathi; TD Power Systems Ltd., Ideaforge Technology Limited, and Bharat Heavy Electricals Limited by Shiju Koothupalakkal, Senior Manager of Technical Research at Prabhudas Lilladher.
Sumeet Bagadia, Executive Director at Choice Broking, recommended Thejo Engineering Limited (THEJO) and AGI Infra Ltd (AGIIL) for intraday trading. For THEJO, Bagadia suggested buying the stock around ₹ 2186, with a stop loss at ₹ 2100, targeting a price of ₹ 2333. He highlighted that THEJO had experienced a robust technical breakout with substantial trading volume, indicating heightened investor interest and potential accumulation. The stock had consolidated between ₹ 1,750 and ₹ 1,950 for 2-3 months and then broke out above the ₹ 2,000 resistance level. For AGIIL, Bagadia advised buying around ₹1017, setting a stop loss at ₹980 and aiming for a target price of ₹1085. He noted AGIIL's stellar upside move and breakout above a short-term consolidation zone, supported by increased volumes. The intraday recovery from the day's low of ₹945 to close near the high indicated a significant bullish move.
Ganesh Dongre, Senior Manager of Technical Research at Anand Rathi, provided recommendations for National Aluminium Company Ltd (NATIONALUM), Axis Bank (AXISBANK), and Cholamandalam Investment and Finance Company Ltd (CHOLAFIN). He suggested buying NATIONALUM around ₹186, with a stop loss at ₹180 and a target price of ₹ 195. Dongre noted the stock's strong and continued bullish pattern, offering a promising opportunity for short-term traders. He highlighted that the stock was maintaining strong support at ₹ 180 and that the technical setup indicated a potential price retracement towards the ₹ 195 level. For AXISBANK, he recommended buying around ₹1165, placing a stop loss at ₹1140, and aiming for a target price of ₹1195, citing similar reasons as for NATIONALUM. Regarding CHOLAFIN, Dongre advised buying around ₹1563, keeping a stop-loss at ₹1548, with a target price of ₹1590. He emphasized the stock's strong bullish trend and its position above a key support level at ₹ 1548, suggesting a favorable risk-to-reward ratio.
Shiju Koothupalakkal, Senior Manager of Technical Research at Prabhudas Lilladher, presented intraday stock recommendations for TD Power Systems Ltd (TD POWER SYSTEM), Ideaforge Technology Limited (IDEAFORGE), and Bharat Heavy Electricals Limited (BHEL). He advised buying TD POWER SYSTEM around ₹ 495.55 with a target price of ₹530, keeping a stop loss at ₹485. Koothupalakkal mentioned that the stock had corrected well after facing resistance near the ₹512 zone, taking support near the 50EMA zone at ₹482, and formed a bullish candle on the daily chart. He believed that the RSI positioning signaled a buy opportunity. For IDEAFORGE, he recommended buying around ₹588 with a target price of ₹625, setting a Stop loss at ₹576, and observed that the stock has maintained a positive bias, forming a series of higher bottoms and higher highs on the daily chart. The RSI has cooled from the overbought zone, indicating further strength. Finally, for BHEL, Koothupalakkal advised buying around ₹ 262 for a Target price of ₹277, with the stop loss at ₹256. He noted that the stock had returned to the base of the ascending channel pattern on the daily chart, taken support, and formed a positive candle, with the RSI positioned favorably, indicating a potential further rise.