Stock market today: Trade setup for Nifty 50, Israel-Hamas War to Tata Capital IPO; 8 stocks to buy or sell
Sensex and Nifty 50 saw gains for the second consecutive session, buoyed by positive global market momentum. Analysts predict a mildly bullish range for Nifty 50, with several stocks to buy, including
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Stock market news: The domestic benchmark indices, Sensex and Nifty 50, continued their upward trend on Friday, reflecting gains for the second consecutive session. This increase was supported by buying activity in the metal and telecom sectors, buoyed by positive momentum in global markets.
The 30-share BSE Sensex rose by 223.86 points, or 0.28%, closing at 81,207.17. Throughout the day, it fluctuated between a high of 81,251.99 and a low of 80,649.57, demonstrating a range of 602.42 points. Similarly, the Nifty 50 increased by 57.95 points, or 0.23%, settling at 24,894.25.
Looking at the weekly performance, the BSE benchmark gained 780.71 points, or 0.97%, while the Nifty 50 also rose by 239.55 points, reflecting a 0.97% increase.
Trade Setup for Monday
Vatsal Bhuva, Technical Analyst at LKP Securities, mentioned that the Nifty 50 index strengthened in Friday session after confidently closing above its short-term resistance. The index found crucial support near its 100-day EMA at 24,750 and finished the day strongly around the 50-day EMA.
On the derivatives front, heavy put writing at 24,800 indicates a solid support base, while the highest open interest concentration at 25,000 marks a significant resistance zone, which is further validated by the technical charts. Overall, the Nifty 50 is anticipated to trade within a mildly bullish range of 24,750 to 25,100, with support at 24,750 and resistance levels set between 25,000 and 25,100.
Global Markets, H2 FY26 earnings to FIIs
Vinod Nair, Head of Research at Geojit Investments, stated that looking ahead, market momentum is expected to be supported by strong earnings in H2 FY26 and seasonal demand tailwinds. However, global trade developments and US policy actions may introduce short-term volatility. The recent 25-basis point rate cut by the Federal Reserve, along with the potential for further easing, is likely to enhance Foreign Institutional Investor (FII) inflows into emerging markets. Notably, India valuation premium over its emerging market peers has moderated, which creates opportunities for incremental foreign allocations and reinforces a positive near-term outlook.
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 seven intraday stocks for today
Sumeet Bagadia stock picks
Indian Bank: Bagadia recommends buying Indian Bank share price at ₹765.95 keeping a stoploss at ₹740 with a Indian Bank share price target of ₹818.
Indian Bank share price was trading at 765.95, the stock is currently displaying a Long-term uptrend, evident from its recent strong rally. The price structure is forming a sequence of higher lows and higher highs in recent sessions and has formed a new all-time high at 769.3, indicating strong bullish momentum. This bullish structure is supported by rising volumes, confirming the strength behind the price action. The overall trend remains firmly positive, with the 20, 50, 100, and 200-day Exponential Moving Averages all trending upward—underscoring sustained demand and strengthening bullish sentiment across short- to long-term timeframes.
In conclusion, based on current technical conditions, Indian Bank share price offers a strong buying opportunity for short-term traders targeting 818, provided sound risk management measures are maintained.
Poonawalla Fincorp Ltd: Bagadia recommends buying Poonawalla Fincorp share price at ₹524.4 keeping a stoploss at ₹506 with a Poonawalla Fincorp share price target of ₹562.
Poonawalla Fincorp share price is currently trading at 524.40 and has recently made an all-time high, reflecting strong bullish momentum. On the weekly timeframe, the stock has formed a rounding bottom pattern and given a breakout from the trend line, leading to an all-time high close. The daily chart structure also remains constructive as the stock continues to form higher highs and higher lows, reaffirming the strength of the prevailing uptrend.
In conclusion, based on current technical conditions, Poonawalla Fincorp share price offers a strong buying opportunity at the current market price of 524.40, with a stop-loss at 506 and an upside target of 562, provided sound risk management measures are maintained.
Ganesh Dongre stocks to buy today
TVS Motor Company Ltd: Ganesh Dongre recommends buying TVS Motor share price at ₹3,447 with a stoploss at ₹3,350 with TVS Motor share price target of ₹3,700.
TVS Motor 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 ₹3,447 and has established a solid support base at ₹3,350. This level has historically acted as a cushion, and the recent price action suggests a reversal from this support, reinf
2025-10-06
By
Anushka Tripathi
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