Stock market news: On Thursday, the Indian stock market finished lower, with both the Sensex and Nifty experiencing significant drops. The Sensex declined by almost 593 points, closing at 84,404, while the Nifty decreased by 176 points, ending at 25,878. The main factor behind the market’s decline was global uncertainty caused by the US Federal Reserve’s recent 25 basis point rate cut, along with comments from Fed Chair Jerome Powell suggesting no firm commitment to another cut in December.
Abhinav Tiwari, a Research Analyst at Bonanza, stated that we are closely monitoring the forthcoming Trump-Xi meeting in South Korea and additional insights from US policy changes, as these will be essential for short-term sentiment.
Market volatility may continue; however, any favourable outcomes in global trade or fiscal issues could contribute to stabilizing and restoring market confidence in the upcoming sessions.
Trade Setup for Friday
Rupak De, Senior Technical Analyst at LKP Securities, indicates that the bears are currently in control while the Nifty 50 bulls remain inactive following a slightly less accommodative statement from the Fed.
Although the short-term trend is still positive, with the index maintaining a position well above its short-term moving average, a minor further correction is possible. If Nifty 50 stays below the range of 25,900 to 25,950 on Friday, it may drop to around 25,800 or even lower. Conversely, a significant surge past 25,950 could bolster the bulls considerably.
Global Markets, Q2 results, US-China trade talks to US Fed cut interest rates
According to Vinod Nair, the Head of Research at Geojit Investments, the US Federal Reserve has implemented a 25 basis point rate cut as anticipated. Nevertheless, the market experienced consolidation after Powell suggested that this might be the final rate reduction of 2025, dampening expectations for additional monetary easing.
The resulting strengthening of the US dollar has led to a risk-averse atmosphere across emerging markets, including India. In the domestic market, mixed Q2 earnings reports and the expiry of futures and options contributed to market fluctuations. At the same time, investors are keeping a close eye on the Trump–Xi trade talks, as the ongoing uncertainty surrounding these negotiations continues to maintain a cautious market sentiment.
Stocks to buy today
Regarding stocks to buy today, market experts—Sumeet Bagadia, Executive Director at Choice Broking; Ganesh Dongre, Senior Manager of Technical Research at Anand Rathi and Shiju Koothupalakkal, Senior Manager of Technical Research at Prabhudas Lilladher, recommended these eight intraday stocks for today: Aditya Birla Capital Ltd, Canara Bank, Hindustan Zinc Ltd, Bharat Electronics Ltd (BEL), Maruti Suzuki India Ltd, Lemon Tree Hotels Ltd, GRM Overseas Ltd, and V-Mart Retail Ltd.
Sumeet Bagadia’s stock picks
Aditya Birla Capital Ltd: Bagadia recommends buying Aditya Birla Capital share price at ₹327 keeping a stoploss at ₹315 with a Aditya Birla Capital share price target of ₹351.
Aditya Birla Capital share price was trading at 327, registering a strong breakout from a prolonged consolidation phase with robust volumes, highlighting renewed participation and strong entry of fresh buyers that have fuelled the ongoing momentum. The stock is well-positioned above its 20, 50, 100, and 200-day EMAs, all trending upward, which confirms sustained strength across multiple timeframes and reflects solid underlying demand.
In conclusion, based on the technical analysis and current market conditions, Aditya Birla Capital share price presents a promising buying opportunity for those aiming for a 351 target, provided that appropriate risk management strategies are in place.
Canara Bank: Bagadia recommends buying Canara Bank share price at ₹133 keeping a stoploss at ₹128 with a Canara Bank share price target of ₹143.
Canara Bank share price was currently trading at ₹133, maintaining a strong upward trajectory. The stock has consistently formed higher highs and higher lows, reflecting sustained bullish momentum. It recently reached a 52-week high of 134.25, with a key resistance level around 135. A breakout above this level could further accelerate buying interest. The Exponential Moving Averages (EMAs) for the 20, 50, 100, and 200-day periods are all trending upwards, reinforcing the bullish outlook.
In conclusion, based on the technical analysis and current market conditions, Canara Bank share price presents a promising buying opportunity for those aiming for an 143 target, provided that appropriate risk management strategies are in place.
Ganesh Dongre’s stocks to buy today
Hindustan Zinc Ltd: Ganesh Dongre recommends buying Hindustan Zinc share price at ₹478 with a stoploss at ₹464 with Hindustan Zinc share price target of ₹595.
In the recent short-term trend analysis of the stock, a notable bullish reversal pattern has emerged. This technical pattern suggests the possibility of a temporary retracement in the stock’s price, potentially reaching around ₹595. At present, the stock is maintaining a crucial support level at ₹464. Given the current market price of ₹478, a buying opportunity is emerging. This suggests that investors might consider purchasing the stock at its current price, anticipating a rise towards the identified target of ₹595.
Bharat Electronics Ltd (BEL): Ganesh Dongre recommends buying BEL share price at ₹410 with a stoploss at ₹400 with BEL share price target of ₹430.
We have seen a major support in this stock around ₹400 So, at the current juncture, the stock has again seen a reversal price action formation at the ₹410 price level, which may continue its rally till its next resistance level of ₹430 so traders can buy and hold this stock with a stop loss of ₹400 for the target price of ₹430 in the upcoming weeks.
Maruti Suzuki India Ltd: Ganesh Dongre recommends buying Maruti Suzuki India share price at ₹16,200 with a stoploss at ₹16,000 with Maruti Suzuki India share price target of ₹16,500.
In the recent short-term trend analysis of the stock, a notable bullish reversal pattern has emerged. This technical pattern suggests that there could be a temporary retracement in the stock’s price, possibly to around ₹16,500 Currently, the stock is holding a crucial support level at ₹16,000.
Given this scenario, there is potential for the stock to rebound towards the ₹16,500 level in the near future. Traders are advised to consider taking a long position, with a strategic stop loss set at ₹16,000 to manage risk effectively. The target price for this trade is ₹16,500, reflecting the anticipated upward movement based on the identified technical.
Shiju Koothupalakkal intraday stocks for today
Lemon Tree Hotels Ltd: Shiju Koothupalakkal recommends buying Lemon Tree share price at ₹168.20 with a Lemon Tree share price target of ₹178 with a stop loss of ₹164.
Lemon Tree share price having sustaining the important 50EMA zone at 164 level has indicated a positive candle formation on the daily chart with volume rising and improving the bias to anticipate for further rise in the coming days. The RSI is well placed with consolidation seen for quite some time and has signalled a buy with much upside potential visible and can expect 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 178 keeping the stop loss of 164 level.
GRM Overseas Ltd: Shiju Koothupalakkal recommends buying GRM Overseas share price at ₹426.95 with a GRM Overseas share price target of ₹445 with a stop loss of ₹416.
GRM Overseas share price has maintained the strong uptrend in the last one month and currently, has indicated a bullish candle formation to hit new high with significant volume participation visible to expect for further upward movement in the coming days. The RSI indicates strength and can carry on with the positive move further ahead with upside potential visible. With the chart technically looking good, we suggest buying the stock for an upside target of 445 keeping the stop loss of 416 level.
V-Mart Retail Ltd: Shiju Koothupalakkal recommends buying V-Mart Retail share price at ₹837.45 with a V-Mart Retail share price target of ₹880 with a stop loss of ₹820.
V-Mart Retail share price after witnessing a short period of correction from 888 zone has found support near the 820 zone and with a decent recovery indicating a positive candle formation on the daily chart has improved the bias to anticipate for further upward movement in the coming sessions. The RSI has cooled off from the overbought zone and is currently well positioned with improvement in the bias 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 880 keeping the stop loss of 820 level.
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.