The stock market reflects a complex interplay of regional and global influences, and with the Nifty-50 index recently closing at 24,793.25—a slight dip of 0.08%—the mood among investors remains cautious. The Bank Nifty also took a hit, closing 0.45% lower at 55,577.45. This ongoing consolidation highlights a lack of clear direction in the market as sectors like Metals, Realty, and Oil & Gas struggled, with some mid- and small-cap indices facing cuts of up to 2%.
For traders and investors, understanding the trade setup is crucial. Analysts note that a sustained move above 24,850 for the Nifty is essential for any potential upside. Support is seen at 24,550, indicating key levels to watch as trading unfolds. Rupak De, a Senior Technical Analyst from LKP Securities, emphasizes that the ongoing negative sentiment hinges on whether the Nifty can break free from its current range.
Bank Nifty’s movement is particularly noteworthy. According to Bajaj Broking, a close above the psychological threshold of 56,000 could open doors to more significant upward movement. Investors should brace for volatility as the market closely tracks geopolitical tensions, especially given the increasing conflicts between Israel and Iran, alongside the cautious stance of the U.S. Federal Reserve.
While no one can ignore geopolitical tensions—particularly the unsettling developments between Israel and Iran—it’s essential to understand how such factors can ripple through the global financial markets. Siddhartha Khemka from Wealth Management indicated that volatility is likely to persist. Market movements were influenced by reactions to the U.S. Fed’s cautious commentary and the impending deadlines for tariff levies, which added another layer of uncertainty.
In light of these developments, investors are actively looking for stocks that show promise despite the broader market’s cautious tone. Analysts have provided recommendations that may offer opportunities for profits in the current trading environment.
### Stocks to Consider on Friday
Several analysts have put forth stock picks that could benefit investors looking to navigate the current volatility. Sumeet Bagadia from Choice Broking suggests Wipro Ltd and Eicher Motors Ltd as solid choices for buying. Wipro is projected to trade at ₹265.60 with a stop-loss at ₹256 and a target price of ₹285—this aligns with the stock’s strong bullish momentum and resistance levels.
Eicher Motors, trading at ₹5,493.50, is also on the buy list, suggested with a stop-loss at ₹5,300 and a target price of ₹5,880. This stock has recently rebounded from a significant support level and appears poised for a bullish reversal, as seen with its rising volume and favorable candlestick patterns.
Garnering attention is also AXIS Bank, recommended by Ganesh Dongre, trading at ₹1,218, with a target price of ₹1,250. The bullish engulfing candlestick pattern indicates a shift in momentum which, combined with current market conditions, suggests a promising upside.
For those exploring potential gains in the financial sector, Federal Bank is recommended at around ₹203, targeting ₹215, supported by strong bullish indicators. Meanwhile, Tata Chemicals is being suggested at ₹910, with a potential rise to ₹945, given emerging bullish trends in its price action.
### Intraday Picks
Shiju Koothupalakkal from Prabhudas Lilladher has additional insights for traders looking for intra-day opportunities. He points towards Sterlite Technologies, which is expected to reach ₹116 from its current price of ₹107. With significant volume participation and positive upward bias, Sterlite appears favorable for short-term traders.
Aegis Logistics—trading around ₹800—has been indicated as promising, targeting ₹840. The stock has recently formed a bullish candle post-consolidation, suggesting further upward movement.
Lastly, MTAR Technologies Ltd is on the radar, recommended at ₹1,719 with a target of ₹1,800. Increased volume and bullish indicators create an optimistic outlook for this stock.
As always, it’s vital for investors to engage with certified experts and perform due diligence before acting on any investment recommendations. Market environments can shift rapidly, and decisions should be made based on a comprehensive analysis of available data.
### Conclusion
Navigating the stock market today requires a keen understanding of both local indices and the impacts of global events. With geopolitical tensions persisting and key levels in the market being tested, investors should remain vigilant. Stock picks from various experts provide a roadmap, highlighting opportunities amid uncertainty but emphasizing the need for patience and informed decision-making.
Source link
