Stock market today: Trade setup for Nifty 50, global markets, Q1 results today; Eight stocks to buy or sell on Thursday
The Nifty 50 index would have the near-term hurdle at 25250 levels, which, when breached above, shall aim for the targets of 25500 and 25700 levels. The important EMA zone at the 24900 level would continue to remain the crucial support area, as per Vaishali Parekh, Vice President of Technical Research at PL Capital.
Bank Nifty continues to witness a gradual rise after sustaining the important near-term support at 56600 level, and Parekh expects a further move till the 57000 zone
Key global macro releases due on Thursday include EUR CPI, UK unemployment, and US retail sales and jobless claims and will be watched by investors. Q1 results due tomorrow include Axis Bank, Wipro, Jio Financial, LTI Mindtree, HDFC AMC, and Indian Hotels, among others.
'We expect markets to consolidate with a positive bias, supported by improving rural and healthcare trends and any progress on India–US trade negotiations. Stock-specific action will likely continue as the earnings season gathers pace', said Siddhartha Khemka, Head of Research, Wealth Management, Motilal Oswal Financial Services Ltd.
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: Krishna Institute of Medical Sciences Ltd , Schneider Electric Infrastructure Ltd, Pidilite Industries Ltd , Supreme Industries Ltd, Indian Bank, Heritage Foods d., Aeroflex Industries Ltd., and Laxmi Organic Industries Ltd.
1. Krishna Institute of Medical Sciences Ltd (KIMS)-Bagadia recommends buying KIMS at around ₹ 742.95, keeping stop loss at ₹ 716 for a target price of ₹ 805
KIMS is currently trading at ₹ 742.95 and has recently reached a new all-time high at ₹ 747.5, underscoring its strong bullish momentum. The stock continues to maintain an upward price structure marked by higher highs and higher lows, indicating sustained buying interest. The breakout to a new high reflects a shift in sentiment and robust demand. The price remains well-supported above its 20, 50, 100, and 200-day Exponential Moving Averages.
2. Schneider Electric Infrastructure Ltd.—Bagadia recommends buying SCHNEIDER at around ₹ 886, keeping the stop loss at ₹ 854 for a target price of ₹ 957
SCHNEIDER is currently trading at 886 and maintaining a strong upward trajectory. The stock has been forming a series of higher highs and higher lows, indicating sustained bullish momentum. A breakout from the rounding bottom formation has confirmed a bullish continuation pattern, signaling a transition from accumulation to an upward trend. This breakout is further validated by the stock marking a fresh 52-week high at 899, supported by consistent volume activity.
3. Pidilite Industries Ltd—Dongre recommends buying Pidilite Industries, or PIDILITIND, at around ₹ 2990, keeping the stop loss at ₹ 2945 for a target price of ₹ 3100
Stock has exhibited a strong, notable, continued bullish pattern, offering another promising opportunity for short-term traders. The stock is currently priced at ₹ 2990 and maintaining strong support at ₹ 2945. The technical setup indicates the potential for a price retracement towards the ₹ 3100 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 ₹ 2945 offers a prudent approach to capturing the anticipated upside.
4. Supreme Industries Ltd—Dongre recommends buying SUPREMEIND at around ₹ 4230, keeping Stoploss at ₹ 4150 for a target price of ₹ 4400.
Stock has exhibited a strong, notable, continued bullish pattern, offering another promising opportunity for short-term traders. The stock is currently priced at ₹ 4230 and maintaining strong support at ₹ 4150. The technical setup indicates the potential for a price retracement towards the ₹ 4400 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 ₹ 4150 offers a prudent approach to capturing the anticipated upside.
5. Indian Bank—Dongre recommends buying Indian Bank or INDIANB at around ₹ 641, keeping stop loss at ₹ 630 for a target price of ₹ 660
In the latest short-term technical analysis, the stock has shown a strong and consistent bullish trend, indicating the potential for an extended upward move. The stock is currently trading at ₹ 641 and holding above a key support level at ₹ 630. This support zone serves as a critical point for risk management. Given the bullish momentum, traders are advised to consider a buying opportunity with a stop-loss placed strategically at ₹ 630 to manage downside risk. The target for this trade is set at ₹ 660, suggesting a favorable risk-to-reward ratio and a continuation of the prevailing upward trend.
6. Heritage Foods Ltd - Koothupalakkal Buy HERITAGE FOODS cmp: 478 Target: 500 Stop loss: 468
The stock with multiple swings has been on the rise gaining strength with series of higher bottom formation on the daily chart and currently once again has taken support near 467 zone and indicated a decent pullback to improve the bias and can anticipate for further rise in the coming sessions. The volume participation has been significant with the RSI currently well positioned, indicating a positive trend reversal to signal a buy and 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 500 keeping the stop loss at the 468 level.
7. Aeroflex Industries Ltd-Koothupalakkal recommends buying AEROFLEX INDS at around ₹ 216 for a target price of ₹ 228, keeping Stop loss: 211
The stock, after a short period of correction, has taken support near the 200-period MA at the ₹ 192 zone and indicated a strong pullback with a series of bullish candle formations on the daily chart to strengthen the bias, and we can expect further gains in the coming sessions. The volume participation is once again on the rise along with the RSI, which is well placed and signaling a buy. With much upside potential visible and the chart technically looking attractive, we suggest buying the stock.
8. Laxmi Organic Industries Ltd-Koothupalakkal recommends buying LAXMI ORGANICS at around ₹ 202.50 for a Target price of ₹ 214, keeping the stop loss at ₹ 197.
The stock, after witnessing a gradual slide, has picked up quite significantly with a bullish candle formation on the daily chart to move past the 50EMA at 196 level to improve the bias, and we can anticipate a further rise to carry on with the positive move further ahead. The RSI is currently well positioned and has indicated a positive trend reversal to signal a buy with much upside potential visible. With the chart technically looking good, we suggest buying the stock for an upside target of ₹ 214 keeping the stop loss at the 197 level.
Disclaimer: The views and recommendations made above are those of individual analysts or brokerage companies and not of Mint. We advise investors to check with certified experts before making any investment decisions.
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