The Indian stock market ended lower on Monday as the Sensex slipped 331 points, while the Nifty 50 closed at 25,959, down 108 points. Most sectors traded in the red, with real estate, metals, and capital goods facing the sharpest declines. IT stocks, however, remained largely stable.
Despite the dip, benchmark indices continue to hover near record highs, which analysts attribute to profit-booking and cautious sentiment.
Market Outlook
Vinod Nair, Head of Research at Geojit Financial Services, said markets fell sharply in the final half-hour as Monday’s expiry weighed on sentiment, with Nifty struggling to hold above the 26,000 mark.
Investors remain watchful amid uncertainties over the interim trade agreement between the US and India. Meanwhile, global cues turned positive as renewed expectations of a US Fed rate cut in December strengthened risk appetite.
Abhinav Tiwari of Bonanza Portfolio added that markets may witness continued volatility, with short-term pullbacks likely as global events and central bank signals shape sentiment.
Nifty 50 Trade Setup for Tuesday
According to Vatsal Bhuva of LKP Securities, the index has closed below its 50-EMA on the hourly chart and slipped beneath the key 26,000 support zone near its 10-day EMA—forming a bearish candle that indicates short-term weakness.
- A break below 25,950 could push Nifty down toward the 20-day EMA at 25,850.
- Support: 25,850
- Resistance: 26,100
Bhuva advises traders to adopt a cautious stance if the index falls below its support.
Stocks to Buy Today
Market experts have recommended eight intraday stocks for Tuesday’s session. The recommendations come from Sumeet Bagadia (Choice Broking), Ganesh Dongre (Anand Rathi), and Shiju Koothupalakkal (Prabhudas Lilladher).
Top Picks for Today:
- Federal Bank
- Tech Mahindra
- KEI Industries
- Astra Microwave Products
- Astral
- TD Power Systems
- NOCIL
- Sundram Fasteners
Analyst Recommendations
Sumeet Bagadia’s Picks
1. Federal Bank Ltd
- Buy @ ₹248 | Target: ₹266 | Stop-loss: ₹239
Bagadia notes a strong bullish structure with higher highs and upward-trending EMAs. A close above its all-time high of 251.2 could trigger further upside.
2. Tech Mahindra Ltd
- Buy @ ₹1,495 | Target: ₹1,600 | Stop-loss: ₹1,443
The stock has formed a bullish double-bottom pattern with RSI divergence, signaling a potential trend reversal and sustained upside.
Ganesh Dongre’s Picks
3. KEI Industries Ltd
- Buy @ ₹4,108 | Target: ₹4,200 | Stop-loss: ₹4,050
A bullish reversal pattern suggests a near-term move toward ₹4,200, supported by strong price action.
4. Astra Microwave Products Ltd
- Buy @ ₹940 | Target: ₹990 | Stop-loss: ₹920
The stock has bounced from strong support at ₹920 and may extend its momentum to ₹990.
5. Astral Ltd
- Buy @ ₹1,470 | Target: ₹1,530 | Stop-loss: ₹1,420
A short-term reversal pattern indicates potential upside toward ₹1,530, provided support at ₹1,420 holds.
Shiju Koothupalakkal’s Picks
6. TD Power Systems Ltd
- Buy @ ₹762 | Target: ₹805 | Stop-loss: ₹744
The stock shows renewed strength after a pullback, supported by rising volumes and an improved RSI.
7. NOCIL Ltd
- Buy @ ₹174.85 | Target: ₹182 | Stop-loss: ₹171
A revival from the ₹168 support zone, coupled with a positive RSI, offers room for further gains.
8. Sundram Fasteners Ltd
- Buy @ ₹987 | Target: ₹1,040 | Stop-loss: ₹965
A bullish candle near the 925 support zone and strengthening momentum signals potential upside.
Disclaimer
The recommendations in this article are provided by individual analysts and brokerage firms. Investors are advised to consult certified financial experts before taking investment decisions.