Stock market today: The Indian stock market experienced ongoing pressure on Wednesday as both major indices started in negative territory, impacted by continued selling from foreign investors.
However, shortly after the market opened, there was a recovery, and the indices shifted back into positive territory with minor gains, buoyed by favorable signals from other global markets.
The Nifty 50 index commenced at 25,842.95, reflecting a drop of -41.85 points or (-0.16 percent). Meanwhile, the BSE Sensex initiated the session at 84,503.44, down -83.57 points or -0.10 percent from the prior close.
Market analysts observed that foreign portfolio investors are still holding significant short positions.
Nifty 50 Outlook by Sagar Doshi, Senior Vice President- Research, Nuvama Professional Clients Group
Nifty 50
Nifty 50 has given away close to 200 points in the first two days of this week as a run up to its monthly expiry, after a strong weekly closing observed on Friday. Support is seen at 25,800 odd while the current is dip is likely to get bought into for upside target of 26,250 / 26,450.
Bank Nifty
Bank Nifty ended flat as its outperformance against the Nifty 50 continues in this monthly expiry week as well. Bank Nifty remains a buy on dip trade since it reclaimed the 58k levels earlier this month. Support of 58,600 is now seen as base for an upside target of 59,250 / 59,800 on the index.
Adani Ports and Special Economic Zone Ltd (BUY): LCP: ₹1,483; SL: ₹1,442; TGT: ₹1,600
A bullish cup and handle breakout has been seen on weekly charts after a 16 month sideways consolidation on Adani Ports. In a market where stocks are facing the heat of profit taking – this name is heading to a fresh all time high.
Max Financial Services Ltd (BUY): LCP: ₹1,697; SL: ₹1,635; TGT: ₹1,838
An eighteen week consolidation after a 4 month run up between March and June 2025 has resulted into a strong bullish flag formation on MFSL. Breakout has been seen near the 1650 mark allowing a quick 8-10% run up from CMP.
Samvardhana Motherson International Ltd (BUY): LCP: ₹110; SL: ₹106; TGT: ₹120
A fresh bullish flat breakout added to a sustained 200 DMA support over the past 3 months allows further traction on charts of Samvardhana Motherson for the short term aiming to hit 118 / 122 in the near term.
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