Stock market news: The Indian stock market ended on a down note on Friday, with the Sensex declining by roughly 400 points to 85,232 and the Nifty 50 decreasing by about 124 points to 26,068.
The primary reason behind this negative closing was poor global indicators, particularly a drop in US tech stocks after ambiguous US jobs data increased uncertainty regarding upcoming interest rate decisions, as per analysts.
Market outlook and key drivers
Puneet Singhania, Director of Master Trust Group, stated that with the Indian market approaching record highs, it highlights the strength of domestic investment and trust in India’s long-term growth narrative. Although the overall domestic environment remains positive, several key global and currency-related issues are limiting significant Foreign Institutional Investor (FII) reallocation to Indian equities due to increased uncertainty regarding upcoming interest rate decisions, according to specialists.
Trade Setup for Monday
Rupak De, a Senior Technical Analyst at LKP Securities, mentioned that a bearish Harami pattern appeared on the hourly chart of the Nifty 50 on Thursday, resulting in a significant drop over the past two days. The index has also fallen below the 21 EMA on the hourly chart, suggesting a potential for further weakness in upcoming sessions. The hourly RSI is displaying a bearish crossover and continues to decline.
The outlook for bulls may remain difficult in the near term, as the downtrend could extend toward the 25,920–25,900 range. On the upside, resistance is located at 26,166; a breakout above this level may boost sentiment, according to De.
Stocks to buy today
Market experts recommended eight intraday stocks. The experts include Sumeet Bagadia (Choice Broking), Ganesh Dongre (Anand Rathi), and Shiju Koothupalakkal (Prabhudas Lilladher).
Sumeet Bagadia’s stock picks
DCB Bank Ltd: Bagadia recommends buying DCB Bank shares at ₹186, with a stop-loss at ₹179, and a target share price of ₹200.
Sumeet Bagadia said that DCB Bank share price has delivered a strong bullish performance, closing at 186.07, rising sharply for the session and finishing near the upper end of the day’s range. This strong price action clearly signals renewed buying interest and sustained momentum after a brief consolidation phase.
Bagadia explained that the stock has staged a powerful breakout from the earlier congestion zone around 155–165, where it found solid support at the rising cluster of short and medium-term EMAs. This breakout has extended the ongoing uptrend and marks one of the stock’s most significant upward moves in recent weeks.
“Given the current momentum, bullish structure, and supportive volume dynamics, DCB Bank share price appears well-positioned for an upward extension toward ₹200 in the near term. Any minor pullback toward the support zone around 183 should be seen as a buy-on-dips opportunity as long as the stock sustains provided the stop loss at 179 is maintained,” said Bagadia.
Zota Healthcare Ltd: Bagadia recommends buying Zota Healthcare shares at ₹1,685, with a stop-loss at ₹1,630, and a target share price of ₹1,820.
Sumeet Bagadia said that Zota Healthcare share price has delivered another strong session, closing at 1,685.10, advancing steadily and finishing near the day’s higher end. This reflects sustained buying interest and ongoing bullish sentiment in the counter. Over the past several weeks, the stock has maintained a well-defined uptrend, rising consistently from the 1,450–1,500 consolidation zone.
Sumeet explained that from a technical perspective, Zota Healthcare share price has broken above its recent consolidation band, confirming a fresh bullish continuation pattern. The price is trading firmly above all major EMAs with shorter-term EMAs positioned above the longer-term ones. This alignment is a textbook indication of a strong, intact bullish trend.
“Given the current technical setup — strong trend alignment, volume-backed breakout, and sustained momentum — Zota Healthcare appears well-positioned to extend its rally toward ₹1,820 in the near term. Minor dips toward the support levels should continue to attract buyers, as long as the stock holds above its stop-loss 1,630 zone,”said Bagadia.
Ganesh Dongre’s stocks to buy today
HCL Technologies Ltd: Ganesh Dongre recommends buying HCL Technologies shares at ₹1,608 with a stop loss at ₹1,590, with an HCL Technologies share price target of ₹1,645.
Ganesh Dongre said that the stock has been exhibiting a strong and consistent bullish pattern, indicating sustained investor interest and positive price momentum. The stock is currently trading at ₹1,605 and has established a solid support base at ₹1,590. This level has historically acted as a cushion, and the recent price action suggests a reversal from this support, reinforcing bullish sentiment.
“The technical setup points to the potential for a price retracement toward the ₹1,645 level in the near term. Given the renewed strength and the favorable risk-reward ratio, entering at the current market price with a stop-loss placed at ₹1,590 offers a strategic opportunity to capture the expected upside move. The outlook remains positive as long as the stock holds above its key support zone,” said Dongre.
KFin Technologies Ltd: Ganesh Dongre recommends buying KFin Technologies shares at ₹1,063 with a stop loss at ₹1,035, with an KFin Technologies share price target of ₹1,115.
Ganesh Dongre said that the stock has exhibited a strong notable continue bullish pattern, offering another promising opportunity for short-term traders. The stock is currently priced at ₹1,063 and maintaining a strong support at ₹1,035.
“The technical setup indicates the potential for a price retracement towards the ₹1,115 level. With the stock reversing from a support base and showing signs of renewed strength, entering at the current market price with a stop-loss at ₹1,035 offers a prudent approach to capturing the anticipated upside,” said Dongre.
NTPC Ltd: Ganesh Dongre recommends buying NTPC shares at ₹328 with a stop loss at ₹320, with an NTPC share price target of ₹345.
According to Ganesh Dongre, the stock has exhibited a strong notable continue bullish pattern, offering another promising opportunity for short-term traders. The stock is currently priced at ₹328 and maintaining a strong support at ₹320.
“The technical setup indicates the potential for a price retracement towards the ₹345 level. With the stock reversing from a support base and showing signs of renewed strength, entering at the current market price with a stop-loss at ₹320 offers a prudent approach to capturing the anticipated upside,” said Dongre.
Shiju Koothupalakkal intraday stocks for today
Gufic Biosciences Ltd: Shiju Koothupalakkal recommends buying Gufic Biosciences shares at ₹352.45 with a target price of ₹370 and a stop-loss of ₹344.
Shiju Koothupalakkal said that the stock has indicated a decent pullback from the bottom made near 310 level and has moved past the important 50EMA at 345 level to improve the bias anticipating for further rise in the coming days.
“The RSI has indicated a strong recovery from the oversold zone to signal a buy and can carry on with the positive move further ahead. With the chart technically looking good, we suggest buying the stock for an upside target of 370 keeping the stop loss of 344 level,” explained Koothupalakkal.
Hindustan Oil Exploration Company Ltd: Shiju Koothupalakkal recommends buying Hindustan Oil shares at ₹144.15 with a target price of ₹152 and a stop-loss of ₹141.
Shiju Koothupalakkal said that the stock has witnessed a significant erosion in recent times and taking support near 136 zone has indicated a strong bullish candle formation on the daily chart to expect for further rise in the coming sessions.
“The RSI has corrected significantly and has indicated a positive trend reversal from the highly oversold zone to signal a buy and with much upside potential visible can expect for further gains. With the chart technically looking good, we suggest buying the stock for an upside target of 152 keeping the stop loss of 141 level,” added Koothupalakkal.
Narayana Hrudayalaya Ltd: Shiju Koothupalakkal recommends buying Narayana Hrudayalaya shares at ₹2,043 with a target price of ₹2,130 and a stop-loss of ₹2,000.
According to Shiju Koothupalakkal, the stock having witnessed a decent spurt recently has improved the bias with currently with indications of positive price action witnessed to anticipate for further rise with a flag pattern visible on the daily chart.
“With bias maintained strong, the RSI has indicated potential to carry on with the positive move further ahead. With the chart technically looking good, we suggest buying the stock for an upside target of 2130 keeping the stop loss of 2000 level,” said Shiju.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.