Buy or sell stocks: Global markets are trading mixed this Friday morning, reflecting investor caution after US indices closed lower overnight amid renewed concerns over global growth and policy uncertainty. Investors remain guarded as they assess the Federal Reserve’s latest policy signals and await upcoming economic data for clarity on the global outlook. Across Asia, the market tone is uneven, mainly with investors treading cautiously ahead of the weekend amid lingering global volatility. On Thursday, foreign portfolio investors offloaded domestic equities worth ₹3,077 crore, adding pressure on the rupee and weighing on overall market sentiment ahead of the weekend trade.
Global cues, rupee movement, and second-quarter earnings from India Inc are likely to guide market sentiment as investors navigate the final trading session of the week. With global markets showing caution and the rupee under mild pressure, participants may remain selective ahead of key Q2 results 2025 announcements and macro data releases.
Stock market today
Vaishali Parekh, Vice President of Technical Research at Prabhudas Lilladher, believes the Indian stock market sentiment is range-bound, as the Nifty 50 index is currently confined to the 25,800-26,100 range. A bullish or a bearish trend can be assumed on the breakage of either side of this range.
Speaking on the outlook of the Nifty 50 index, Vaishali Parekh said, “The Nifty 520 index witnessed some profit booking to shed some of the gains and once again is gripped between the range of 26,100 and 25,800 zone with consolidation happening since the last 4-5 sessions with overall bias still maintained with a cautiously positive approach. The index would need a decisive breach above the 26,100 zone to establish conviction and thereafter, can expect the near-term targets of 26,300 and 26,700 levels in the coming days, having the important support positioned near the 25,400 zone, which needs to be sustained.”
On the outlook of the Bank Nifty index, Parekh said, “The Bank Nifty index once again witnessing resistance near the 58,500-zone slipped down with profit booking seen and is gripped in a tight rangebound zone of 58,500 and 57,500 levels since the past few sessions with bias maintained overall positive and would need a decisive breach on either side to confirm a specific directional movement in the coming days. With the crucial near-term support positioned near the 57,500 zone, we can expect the next target of the 60,000 level in the coming days once a breakout above the 58,500 zone is confirmed.”
Parekh stated that immediate support for the Nifty 50 index is located at the 25,700 level, while resistance is seen at 26,100. The Bank Nifty index is expected to have a daily range of 57,600 to 58,600.
Vaishali Parekh’s stock recommendations today
Regarding stocks to buy today, Vaishali Parekh recommended three buy-or-sell stocks: RHI Magnesita, Refex Industries, and NLC India.
1] RHI Magnesita: Buy at ₹472, Target ₹490, Stop Loss ₹460;
2] Refex Industries: Buy at ₹363, Target ₹380, Stop Loss ₹353; and
3] NLC India: Buy at ₹255, target ₹272, Stop Loss ₹250.
Key Takeaways
- Global market volatility influences Indian market sentiment.
- The Nifty 50 index is currently range-bound, requiring a break to determine future direction.
- Vaishali Parekh recommends specific stocks with defined targets and stop-loss levels.
Disclaimer: This story is for educational purposes only. The views and recommendations expressed are those of individual analysts or broking firms, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.