Stock market today: India’s main stock indices were muted on Tuesday following US President Donald Trump’s decision to postpone the enforcement of tariffs until August 1, alongside the announcement of significant import duties on several trading partners, while indicating that a deal with India is nearing completion.
The Nifty 50 was to reach 25,475 . 95 level, and the BSE Sensex rose by 0.12% to 83,526.55, as recorded at 12:55 IST.
During early trading, both indexes fluctuated between a gain of 0.2% and a loss of 0.2%.
Riyank Arora of Mehta Equities said that Nifty 50 is poised for a breakout above 25,600 resistance could trigger further upside towards 25,750–26,000 in the near term. Riyank Arora suggest three stocks to buy in the short term. Here’s what he says about the overall market.
Market Views – Riyank Arora, Technical Analyst, Mehta Equities Ltd
Nifty 50 continues to trade with a positive bias, holding firm above its immediate support at 25,300. A breakout above 25,600 resistance could trigger further upside towards 25,750–26,000 in the near term. Overall trend remains constructive, supported by momentum indicators, but traders should monitor price action closely around resistance levels for confirmation.
Bank Nifty – Technical View
Bank Nifty is maintaining strength, with immediate resistance at 57,200. A sustained move above this level can lead to a rally toward 57,500–58,000. On the downside, support lies at 56,600, which is crucial to hold for the bullish setup to stay intact. Broader participation from major banking names is lending strength to the index.
Shares to buy for short term
Riyank Arora recommends these three stocks in the short term – KRN Heat Exchanger And Refrigeration Ltd, Senco Gold Ltd, and Balaji Amines Ltd.
KRN Heat
Buy | CMP: ₹933 | Stop Loss: ₹905 | Target: ₹1,020
KRN Heat has delivered a strong breakout above ₹920, supported by a noticeable uptick in volumes, signaling increased buying interest. The stock is trading above key moving averages, indicating a firm short-term trend. RSI is rising, and the overall setup suggests momentum is building for further upside. Recent consolidation has helped establish a base, and if the price sustains above ₹930, it can potentially rally towards ₹1,020 in the coming sessions. The risk-reward is favourable at current levels. Traders should maintain a strict stop loss at ₹905 to manage downside risk in case of broader market volatility.
Senco Gold
Buy | CMP: ₹363 | Stop Loss: ₹345 | Target: ₹395
Senco Gold has shown a strong recovery from its recent support near ₹350, backed by rising volumes and improving price action. The stock is currently trying to break out of a minor resistance at ₹360, and a close above this level would confirm bullish continuation. RSI is gaining traction, and the overall trend suggests accumulation at lower levels. With improving sentiment in the jewellery and retail space, Senco is well-positioned for a short-term move toward ₹395. Maintain a stop loss at ₹345 to protect against sudden pullbacks or broader market pressure.
Balaji Amines
Buy | CMP: ₹1,915 | Stop Loss: ₹1,860 | Target: ₹2,050
Balaji Amines has recently bounced back after forming a strong base around ₹1,850, signaling renewed buying interest. The stock is showing signs of trend reversal with a bullish structure and improving technical indicators. RSI and MACD suggest strengthening momentum, and the price has crossed above its short-term moving averages, which reinforces the upside bias. If the stock sustains above ₹1,920, a quick move toward ₹2,050 looks likely. The risk-reward remains attractive at current levels. Traders should keep a stop loss at ₹1,860 to protect positions in case of any reversal or weakness in broader market sentiment.
Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decision.
