Stock market today: Trade setup for Nifty 50 to India-Pakistan tension; Eight stocks to buy or sell on Monday
For Nifty 24,200 would act as a sacrosanct support zone and above this level, its positive momentum up to 24,600–24,800. On the flip side, below 24,200, the chances of hitting the 200-day SMA or 24,050 would increase, said Amol Athawale, VP- Technical Research, Kotak Securities.
For Bank Nifty, 55,800 would be the immediate breakout level and above this, it could move up to 56,100–56,500, added Athawale.
The coming week is crucial, packed with key domestic and global triggers. With developments regarding tariff and geopolitical tensions with Pakistan will still remain on the radar. On the macroeconomic front, investors would be eyeing the HSBC Composite PMI and HSBC Services PMI Final data. While on the global front, Fed Interest Rate Decision is due on 7th May where they would be discussing about the future rate cut path, said Ajit Mishra – SVP, Research, Religare Broking Ltd.
On the corporate earnings front, several prominent companies—including M&M, Coal India, Asian Paints, L&T, Titan, Coforge, One 97 Communication, Pidilite Industries and Dr, Reddy's Labs—are set to release their quarterly results. Globally, updates related to tariffs and trade will also be watched closely.
Sumeet Bagadia, Executive Director at Choice Broking, has recommended two stock picks for today. Ganesh Dongre, Senior Manager of Technical Research at Anand Rathi, suggested three stocks, while Shiju Koothupalakkal, Senior Manager — Technical Research, at Prabhudas Lilladher has given three stocks picks. CarTrade Tech Ltd- Bagadia recommends buying CarTrade Tech at ₹ 1768.2 keeping Stoploss at ₹ 1700 for a target price of ₹ 1900
CARTRADE showcases a robust bullish reversal on the daily chart, recovering sharply after facing selling pressure in early April. The stock has regained strong upward momentum, the stock has shown consistent higher highs and higher lows, a classic pattern of a strong uptrend. Notably, the trading volume during upward price movements has been substantial, reinforcing the strength of the rally. In recent sessions, CARTRADE is getting stabilized and moving towards its swing high target of ₹ 1900, indicating consolidation and a potential setup for another breakout.
2. CreditAccess Grameen Ltd - Bagadia recommends buying CreditAccess Grameen at around ₹ 1162.9 keeping Stoploss at ₹ 1125 for a target price of ₹ 1250
CREDITACC, is currently trading at 1162.9, exhibits a strong uptrend and bullish breakout on the daily chart, supported by its consistent position above key exponential moving averages (EMAs). Recent price action indicates a consolidation phase following a notable rally, with the stock maintaining levels near the 20-Day EMA. The reclaim of the 20-day EMA is especially noteworthy, as it often signifies a shift from bearish to bullish sentiment. This technical alignment suggests the potential beginning of a medium- to long-term uptrend. If this trend continues, CREDITACC could reach a short-term target of 1250.
3. NHPC Ltd- Dongre recommends buying NHPC at around ₹ 85-86 keeping stoploss at ₹ 83 for a target price of ₹ 91
1In the short-term trend outlook, NHPC is displaying a strong bullish setup, making it a compelling buy candidate. On the daily chart, the stock has formed a Bullish Engulfing pattern—a classic signal indicating a potential reversal following recent corrective action. The stock is currently holding key support near ₹ 84 and offers a favorable entry opportunity in the ₹ 85–86 range. Technical indicators suggest momentum may build toward the ₹ 91 target, with a prudent stop-loss to be maintained at ₹ 83 to manage downside risk.
4. Chambal Fertilisers & Chemicals Ltd- Dongre recommends buying Chambal Fertilisers at ₹ 695 keeping Stoploss at ₹ 685 for a target price of ₹ 715
CHAMBLFERT has shown encouraging signs of a trend reversal on its daily chart, forming a Bullish Engulfing pattern after a period of decline. The stock is respecting its 20-day EMA, indicating renewed buying interest at lower levels. With strong support around ₹ 685, CHAMBLFERT offers a short-term buying opportunity at ₹ 695, aiming for a target of ₹ 715 while keeping a stop-loss at ₹ 685.
5. State Bank of India- Dongre recommends buying SBI at ₹ 800 keeping Stoploss at ₹ 785 for a target price of ₹ 830.
SBI is showing a bullish reversal candlestick pattern near its crucial support zone, signaling that recent selling may be losing steam. The stock is trading well above its 50-day EMA, further supporting the positive bias. With a current level around ₹ 800, SBI presents a buying opportunity for a potential move toward ₹ 830, with a protective stop-loss recommended at ₹ 785 to limit downside exposure.
6. VA Tech Wabag Ltd- Koothupalakkal recommends buying VA TECH WABAG at around ₹ 1310 for a Target price of ₹ 1370 keeping Stop loss: 1280
The stock after witnessing a short period of profit booking has shown signs of taking support near 1260 zone and indicated a decent pullback to improve the bias anticipating for further rise in the coming sessions. The RSI has corrected to some extent and currently indicating a positive revival has scope for further upward move, with much upside potential visible from current rate. With the chart technically maintained strong, we suggest to buy the stock for an upside target of 1370 level keeping the stop loss of 1280 level.
7. Sumitomo Chemical India Ltd- Koothupalakkal recommends buying Sumitomo Chemical at around ₹ 524 for a Target price of ₹ 550 keeping Stop loss at ₹ 512
The stock has indicated a higher bottom formation pattern on the daily chart taking support near the 500 zone and currently after a decent pullback is on the verge of moving past the important 200 period MA and 50EMA at 525 level to improve the bias anticipating for further rise. The RSI has indicated a positive trend reversal to signal a buy and with upside potential visible, we expect the stock to carry on with the positive move further ahead. With the chart technically looking good, we suggest to buy the stock for an upside target of 550 level keeping the stop loss of 512 level.
8. NCC Ltd- Koothupalakkal recommends buying NCC at around ₹ 217.40 for a Target price of ₹ 230 keeping Stop loss at ₹ 212
The stock has maintained a positive bias for quite some time with the 50-EMA at 213 level as the good support zone and currently with a positive candle formation with significant volume participation has once again improved the bias, expecting for further rise in the coming sessions. The RSI is well-positioned, indicating strength, and can continue with the positive upward move for further gains. With the chart looking good, we suggest buying the stock for an upside target of 230, keeping the stop loss at the 212 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 taking any investment decisions.
First Published: 5 May 2025, 06:24 AM IST
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
India.com
30 minutes ago
- India.com
This company shares gains 5 percent after getting buy call from AnandRathi
25 महीने में करोड़पति बन गए निवेशक Sindhu Trade Link shares gained over 6 per cent even today July 14, 2025 even as benchmark indices Sensex and Nifty dropped significantly. Despite these market conditions, the stock opened gap up with a gain of 3.57 per cent today at Rs 32.49 against the previous close of Rs 31.22 on the BSE. The scrip gained further to touch the high of Rs 33.41, a gain of 6.5 per cent from the closing price of the last trading session. This uptick follows three consecutive days of decline. Technically, the counter trades higher than the 20-day, 50-day, 100-day and 200-day moving averages but lower than the 5-day moving averages. The 52-week high of the stock is Rs 39.25 on the BSE against the previous close of Rs 12.90. The market cap of the company is Rs 5,062.15 crore. Stock Under ASM As a precaution, the BSE has placed Reliance Power Ltd's securities under the Short Term Additional Surveillance Measure Stage I framework. This measure is intended to alert investors to high volatility in share prices. Being aware of such measures is crucial for investors making informed decisions. Meanwhile, the rally in the stock comes as the stock has given a breakout above its yearly Camarilla pivot level around Rs 29.80 and is currently sustaining above it. 'This breakout is technically significant as it coincides with the VWAP higher band, offering strong support at current levels. The confluence of these factors suggests bullish momentum is likely to continue. Therefore, we advise going long in the Rs 31-29 zone, with an upside target of Rs 36. A stop-loss should be placed below Rs 27 on a daily closing basis to manage risk effectively,' a report by Anand Rathi said. Stock Market Today Meanwhile, the 30-share BSE Sensex declined 232. 93 points to 82,267.54 in early trade. The 50-share NSE Nifty dipped 71.4 points to 25,078.45. From the Sensex firms, Bajaj Finance, Infosys, Tech Mahindra, Bharti Airtel, HCL Tech and Asian Paints were among the biggest laggards. However, Trent, Axis Bank, Mahindra & Mahindra and NTPC were among the gainers.
Economic Times
an hour ago
- Economic Times
Castrol shares jump 6% after favourable order on Rs 4,131 crore tax dispute
Castrol India gains 6% after winning a ₹4,131 crore tax case against Maharashtra Sales Tax Department, easing long-standing litigation concerns and boosting stock momentum. Synopsis Castrol India shares surged 6% after the company received a favourable CESTAT ruling in a ₹4,131 crore tax dispute with the Maharashtra Sales Tax Department, dismissing decade-long claims. The verdict spurred high trading volumes and boosted investor sentiment. Shares of Castrol India surged 6% on Monday to hit a high of Rs 232.43 on the NSE after the company informed the exchanges about receiving a favourable order in a Rs 4,131 crore tax dispute against Maharashtra Sales Tax Department (MSTD). ADVERTISEMENT Castrol India shares witnessed significant volume action with over 2 crore shares changing hands on the NSE around 1:30 pm. The company had received a favourable order from Customs Excise & Service Tax Appellate Tribunal (CESTAT) on Friday after market hours. "CESTAT pronounced an order in favour of the Company rejecting the appeals of MSTD for the period of 9 years i.e. from 2007-08 to 2015-16 and for 2017-18," the company filing company had received demand orders amounting to Rs 4,131 crores for the period 2007-08 to 2017-18 (10 years), from the MSTD in relation to movement of goods from its plant/warehouses in Maharashtra to Clearing and Forwarding Agents (CFAs) in other MSTD alleged that such movements constituted inter-state sales made pursuant to pre-existing customer orders in destination states. ADVERTISEMENT Castrol India contested these claims of MSTD stating that the goods were not dispatched under any prior customer orders and that the Company's tax payment methodology was legally valid. Castrol India shares have rallied nearly 10% in 2025, so far outperforming the Nifty whose returns in the same period stand at 5.5%. However, on a 1-year basis, the counter remains a laggard declining by 16% versus 2% positive returns given by the 50-stock index. ADVERTISEMENT This year's rally has taken the stock above its 50-day and 200-day simple moving averages (SMAs) of Rs 213 and 209, respectively, according to Trendlyne has traded with high volatility, with a 1-year beta of 1.1, the Trendlyne data said. ADVERTISEMENT Also Read: Neuland Laboratories shares jump 12% ahead of final dividend (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel) Nikita Papers IPO opens on May 27, price band set at Rs 95-104 per share Nikita Papers IPO opens on May 27, price band set at Rs 95-104 per share Why gold prices could surpass $4,000: JP Morgan's bullish outlook explained Why gold prices could surpass $4,000: JP Morgan's bullish outlook explained Cyient shares fall over 9% after Q4 profit declines, core business underperforms Cyient shares fall over 9% after Q4 profit declines, core business underperforms L&T Technology Services shares slide 7% after Q4 profit dips L&T Technology Services shares slide 7% after Q4 profit dips Trump-Powell standoff puts U.S. Rate policy in crosshairs: Who will blink first? Trump-Powell standoff puts U.S. Rate policy in crosshairs: Who will blink first? SEBI warns of securities market frauds via YouTube, Facebook, X and more SEBI warns of securities market frauds via YouTube, Facebook, X and more API Trading for All: Pi42 CTO Satish Mishra on How Pi42 is Empowering Retail Traders API Trading for All: Pi42 CTO Satish Mishra on How Pi42 is Empowering Retail Traders Security, transparency, and innovation: What sets Pi42 apart in crypto trading Security, transparency, and innovation: What sets Pi42 apart in crypto trading Bitcoin, Ethereum, or Altcoins? How investors are structuring their crypto portfolios, Avinash Shekhar explains Bitcoin, Ethereum, or Altcoins? How investors are structuring their crypto portfolios, Avinash Shekhar explains The rise of Crypto Futures in India: Leverage, tax efficiency, and market maturity, Avinash Shekhar of Pi42 explains NEXT STORY
India Today
an hour ago
- India Today
Sensex down 400 points: Why is stock market falling today?
Dalal Street continued its downward slide on Monday, starting the week on a negative note with benchmark indices falling half a percent. Sensex tanked over 400 points, while Nifty lost 100 of 11:50 am, the S&P BSE Sensex was down by 388.85 points to 82,111.62, while the NSE Nifty50 lost 110.85 points to 25, market was dragged by a decline in IT stocks as they acted as major laggards. All major IT shares were trading in The Nifty IT index faced broad-based selling pressure today, falling 1.42% to close at 37,159.25. Most major IT stocks ended in the red with significant declines across the board. Wipro led the fall with a sharp drop of 2.11%, followed by Tech Mahindra down 1.70% and HCL Technologies declining 1.67%.Other major IT stocks also faced selling pressure with Infosys down 1.63%, Tata Consultancy Services falling 1.43%, LTIMindtree declining 1.27%, and MphasiS dropping 0.49%. Persistent Systems and Coforge also joined the decline, falling 0.36% and 0.26% respectively."So, due to the trade war uncertainty and also the earnings season started with lukewarm earnings of TCS, that has been creating some kind of pressure in the market as the trade war uncertainty remains persist," said said Kranthi Bathini, Director - Equity strategy, WealthMills Securities Pvt Ltd."Investors and traders are trying to be on the sidelines. We need to see Nifty holding the 25,000 levels. If the market sustains 25,000 levels, the trend can be positive. If the market fails to hold the 25,000 level of Nifty, we can see some perceived weakness," he top five gainers on BSE were Eternal up 2.32%, Titan up 0.80%, Sun Pharmaceutical up 0.63%, ITC up 0.53%, and Adani Ports up 0.41%.On the losing side, Tech Mahindra crashed 1.70%, Infosys fell 1.69%, Bajaj Finance dropped 1.55%, Asian Paints declined 1.52%, and Tata Consultancy Services was down 1.50%.Dr. VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited, said, "Nifty has been exhibiting weak trend weighed mainly by the weakness in the IT stocks. This weakness may persist particularly since the FIIs were big sellers in the cash market last Friday.""Market is expecting a US- India trade deal soon with a tariff rate of around 20% for India. If this happens the market will get a sentimental boost. Any disappointment on this front can drag the market further down," he added.(Disclaimer: The views, opinions, recommendations, and suggestions expressed by experts/brokerages in this article are their own and do not reflect the views of the India Today Group. It is advisable to consult a qualified broker or financial advisor before making any actual investment or trading choices.)- EndsMust Watch
