Stock market news: The domestic benchmark indices ended slightly higher during the special Muhurat Trading session on Tuesday, with the Nifty 50 closing near 25,900.
Although the Sensex and Nifty 50 remained mostly unchanged, the broader market exhibited gains. The BSE Midcap index increased by 0.3%, and the Smallcap index rose by 1%.
At the conclusion of the Muhurat trading session, the Nifty 50 stood at 25,868.60, marking an increase of 25.45 points, or 0.10%, while the Sensex finished at 84,426.34, up 62.97 points, or 0.07%.
The primary near-term catalyst is the real demand growth across various consumer sectors during the current festive season, driven by the GST rate reduction and a potential trade agreement between the US and India. Experts predict corporate earnings to grow at an average annual rate of 12% from FY25 to FY27E.
Trade Setup for Thursday
As per Rupak De, a Senior Technical Analyst at LKP Securities, the Nifty 50 has maintained its upward trend throughout the Muhurat trading session, although the actual range was limited due to the shortened trading period. The market sentiment remains bullish, with the index holding steady above the significant 21 EMA. The RSI has moved into a highly optimistic momentum zone and seems poised for further strengthening in the upcoming sessions. In the near term, a rise towards 26,000 or 26,200 appears likely, while support is established at 25,700.
Global Markets, Q2 results, India-US trade deal
Market performance over the last year has been lackluster, reflecting the consolidation in corporate earnings, although it was underpinned by a high comparative base. The beginning of FY26 has shown a promising start, with Q1FY26 earnings growth estimated at 6.6% year-on-year, while full-year projections are anticipated to reach 8.2% year-on-year, as per experts.
A notable development recently has been the GST 2.0 reforms, which came as an unexpected positive and could enhance corporate earnings beginning in H2FY26, according to experts.
In the near term, a key driver is the genuine demand growth in consumer segments during the ongoing festive season, spurred by the GST rate reduction and a possible trade agreement between the US and India. Corporate profits are predicted to increase at a CAGR of 12% from FY25 to FY27.
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: Ltd, Ltd, Ltd (IEX), Ltd (HUDCO), Ltd, Ltd, Ltd, and Ltd.
Sumeet Bagadia’s stock picks
Godawari Power and Ispat Ltd: Bagadia recommends buying Godawari Power share price at ₹252.35 keeping a stoploss at ₹240 with a Godawari Power share price target of ₹275.
Godawari Power share price was trading at ₹252.35 and is forming a channel range pattern on the daily chart, indicating a phase of healthy consolidation. The stock recently found strong support at the lower end of the channel near the 50-day EMA, which also acts as immediate support. This bounce suggests accumulation at lower levels and reinforces buyer interest in this zone.
Technically, the stock is trading above its 20, 50, and 200 EMAs, highlighting a structurally strong uptrend and signalling potential for a continued bullish move. On the upside, Godawari Power faces key resistance around ₹255. A breakout and close above this level would signal the end of the consolidation phase and open the door for a fresh rally.
Traders may consider buying Godawari Power share price at ₹252.35, with a stop loss at ₹240 and a target of ₹275, offering a favorable risk-reward opportunity.
National Aluminium Company Ltd (NALCO): Bagadia recommends buying NALCO share price at ₹226.03 keeping a stoploss at ₹215 with a NALCO share price target of ₹245.
NALCO share price was trading at ₹226.03 and is exhibiting a bullish structure, forming a higher high and higher low pattern on the daily chart. This indicates strong underlying momentum. The stock is presently consolidating within a narrow range and has recently taken support near its previous higher high, suggesting accumulation at lower levels and reaffirming buying interest in the support zone.
Technically, NALCO share price is trading above its key moving averages — 20, 50, and 200 EMA — which signals strength and supports the continuation of the uptrend. On the upside, the immediate resistance lies near ₹230. A decisive breakout and sustained move above this level could pave the way for a fresh rally.
Traders may consider buying NALCO share price at ₹226.03, with a stop loss at ₹215 and a target of ₹245, offering a favorable risk-reward setup.
Ganesh Dongre’s stocks to buy today
Indian Energy Exchange Ltd (IEX): Ganesh Dongre recommends buying IEX share price at ₹138 with a stoploss at ₹132 with IEX share price target of ₹146.
IEX share price has been exhibiting a strong and consistent bullish pattern, indicating sustained investor interest and positive price momentum. The stock is currently trading at ₹138 and has established a solid support base at ₹132. 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 ₹146 level in the near term. Given the renewed strength and the favourable risk-reward ratio, entering at the current market price with a stop-loss placed at ₹132 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
Housing & Urban Development Corporation Ltd (HUDCO): Ganesh Dongre recommends buying HUDCO share price at ₹229 with a stoploss at ₹223 with HUDCO share price target of ₹240.
HUDCO share price has exhibited a strong notable continue bullish pattern, offering another promising opportunity for short-term traders. The stock is currently priced at ₹229 and maintaining a strong support at ₹223. The technical setup indicates the potential for a price retracement towards the ₹240 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 ₹223 offers a prudent approach to capturing the anticipated upside.
Infosys Ltd: Ganesh Dongre recommends buying Infosys share price at ₹1,461 with a stoploss at ₹1,420 with Infosys share price target of ₹1,520.
Infosys share price has exhibited a strong notable continue bullish pattern, offering another promising opportunity for short-term traders. The stock is currently priced at ₹1,461 and maintaining a strong support at ₹1,420. The technical setup indicates the potential for a price retracement towards the ₹1,520 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 ₹1,420 offers a prudent approach to capturing the anticipated upside.
Shiju Koothupalakkal intraday stocks for today
Tilaknagar Industries Ltd: Shiju Koothupalakkal recommends buying Tilaknagar share price at ₹488 with a Tilaknagar share price target of ₹515 with a stop loss of ₹478.
Tilaknagar share price has indicated a good support near 440 zone and with a pullback visible has currently improved the bias with a positive candle formation on the daily chart to anticipate for further rise in the coming days. The RSI has indicated a positive trend reversal to signal a buy and is on the rise, with upside potential visible and can carry on with the positive move further ahead. With the chart technically looking attractive, we suggest buying the stock for upside target of 515 keeping the stop loss at 478 level.
Cyient Ltd: Shiju Koothupalakkal recommends buying Cyient share price at ₹1,195 with a Cyient share price target of ₹1,245 with a stop loss of ₹1,170.
Cyient share price has indicated a significant revival in the last 2 sessions with improvement in the bias taking support near the 1,110 zone and can anticipate for further rise in the coming sessions. The RSI has indicated a positive trend reversal to signal a buy and with significant volume participation, can expect further gains 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 1,245 keeping the stop loss of 1,170 level.
Action Construction Equipment Ltd: Shiju Koothupalakkal recommends buying Action Construction share price at ₹1,112.50 with a Action Construction share price target of ₹1,165 with a stop loss of ₹1,088.
Action Construction share price after a short period of consolidation has indicated a strong bullish candle to move past the important 50EMA level at 1096 zone to improve the bias and can expect further upward move in the coming days. The RSI has once again improved with a positive trend reversal after being flat for quite some time and with upside potential visible, 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 1,165 keeping the stop loss of 1,088 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.