Stock market today: Indian stocks saw a slight increase on Tuesday, boosted by gains in the energy and automotive sectors, along with positivity regarding advancements in trade talks between the U.S. and China, as well as India, ahead of the Federal Reserve’s decision on interest rates.
The Nifty 50 climbed 0.43% to 25,177 . 55, while the BSE Sensex increased by 0.44% to 82,146.58 at 12:18 IST.
Analysts observed that the market was in a “wait and watch” phase, with cautious sentiment prevailing ahead of important international and domestic events.
Market Views – Riyank Arora, Technical Analyst, Mehta Equities Ltd
Nifty 50 – Technical View
Nifty 50 is hovering near its immediate resistance zone of 25,150–25,200, with support placed at 25,000 and 24,950. A decisive move above 25,200 may open the door for further upside towards higher levels. On the downside, holding above 24,950 will be essential to keep the positive bias intact. Momentum indicators remain constructive, and traders are advised to continue with a buy-on-dips approach as the index maintains its bullish undertone.
Bank Nifty
Bank Nifty is trading close to its resistance band of 55,000–55,300, while supports are placed at 54,800 and 54,500. A breakout past 55,300 could fuel the next leg of rally towards higher zones, whereas 54,500 will serve as a critical near-term base. The overall setup stays favorable, backed by positive momentum. Accumulation on dips remains the preferred strategy as the structure indicates further strength ahead.
Shares to buy for short term
Riyank Arora recommends these three stocks in the short term – , , and .
Godavari Power
Buy | CMP: ₹270 | SL: ₹260 | Target: ₹300
Godavari Power is trading firm near ₹270, maintaining strong support at ₹260 levels. The chart structure highlights a positive trend with higher lows being formed, suggesting sustained buying interest. Momentum indicators are pointing towards further strength, and a breakout above current levels could accelerate the move towards ₹300 in the near term. The stock has also witnessed steady accumulation, which strengthens the bullish setup. Dips closer to ₹265– ₹260 should be considered as opportunities to enter fresh longs. Overall sentiment remains constructive, favoring a continuation of the uptrend for short-term positional traders.
Metropolis Health
Buy | CMP: ₹2,017 | SL: ₹1,900 | Target: ₹2,300
Metropolis Health is consolidating around ₹2,017 after a strong upward move, holding firmly above its key base of ₹1,900. The technical setup reflects steady accumulation, with momentum indicators supporting a potential breakout towards ₹2,300 levels. Sustaining above ₹1,950– ₹1,900 is crucial for maintaining the ongoing bullish structure. Volume activity has been supportive, adding conviction to the trend. A move above ₹2,050 could trigger fresh buying momentum, further strengthening the case for near-term gains. Traders are advised to buy on dips, keeping a strict stop loss at ₹1,900, and ride the trend as the outlook remains positive and robust.
Bajaj Finance
Buy | CMP: ₹1,005 | SL: ₹965 | Target: ₹1,100
Bajaj Finance is trading steady near ₹1,005, with strong support placed around ₹965 levels. The stock has been forming a constructive pattern, reflecting resilience and buying interest at lower levels. A sustained move above the ₹1,015– ₹1,020 zone could drive fresh momentum, opening the way towards ₹1,100 in the short term. Momentum oscillators are indicating continued strength, while the broader structure remains bullish. Traders can look to accumulate on declines towards ₹980– ₹970 levels, with risk managed at ₹965. Overall, the trend is positive, and the setup favours further upside, making it attractive for positional and short-term traders alike.
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.