Stock market today: Indian stocks commenced the week on a positive note on Monday, buoyed by encouraging US employment figures and indications of advancements in US-India trade negotiations, along with significant monetary policy actions from the central bank.
As of 13:11 IST, the Nifty 50 had risen by 0.43% to reach 25,110 . 40, while the Sensex saw an increase of 0.35%, climbing to 82,474.86.
Market analysts suggest that Indian stocks are expected to stay optimistic throughout the day. This robust momentum is being fueled not only by the RBI’s interest rate reductions and liquidity initiatives but also by favourable signals from international markets.
Vinay Rajani of HDFC Securities recommends JSW Infrastructure Ltd, JK Tyre & Industries Ltd, and Crompton Greaves Consumer Electricals Ltd. Check out his overall market views.
Market Views – Vinay Rajani, Senior Technical and Derivative Analyst, HDFC Securities
Nifty 50
Nifty 50 has finally broken out from the consolidation zone of 24,500-25,100. Broader markets have been showing strength and took the lead in this uptrend of the market. Nifty 50 is not headed towards the next resistance zone of 25,640-25,740, which happens to be unfilled down gap formed on 3 rd October 2024.
Nifty Bank, Financial services, Realty, sectors have been outperforming, and the rally is further fueled by RBI policy announcement of repo rate and CRR cut last week. At present, 55% of the stocks of NSE500 are trading above their 200 DMA. This reading was as low as 10% in the month of February 2025. This type extremely low reading was seen in the previous bear markets and such instances were followed by a sharp recovery in the broader markets, which took this reading at least towards 65% to 70%. The current reading of 55% is still below the historical average and therefore we expect the broader market to improve further from here.
We expect markets to remain strong, and Nifty 50 is expected to extend the rally from here. It is advisable to hold nifty longs for the upside targets of 25,640-25,740, with the stoploss of 24,845.
Technical Picks: Stocks to buy in the near-term
Vinay Rajani of HDFC Securities recommends these three stocks in the near term – JSW Infrastructure Ltd, JK Tyre & Industries Ltd, and Crompton Greaves Consumer Electricals Ltd.
Buy JSW Infra ( ₹310) | Target ₹350 | Stop-loss ₹279
JSW Infra share price has broken out from symmetrical triangle pattern on the weekly chart. JSW Infra share price rise was accompanied by a jump in volumes. Stock price has been sustaining above 50 DEMA and 200 DEMA. Weekly RSI has reached above 50, indicating a sustainable up trend. Weekly MACD is now placed above signal and equilibrium line.
Buy JK Tyre( ₹375): | Target ₹400 | Stop-loss ₹355
JK Tyre share price has broken out from downward sloping trend line on the daily chart. Tyre stocks are looking strong on positional charts. Stock is placed above all key moving averages. After running correction, stock seems to have resumed its uptrend.
Buy Crompton Consumer ( ₹353): | Target Rs. 380,391 | Stop-loss ₹333
On week ended 16 th May 2025, Crompton Consumer share price broke out from downward sloping trend line on the weekly chart. Price rise was accompanied by a jump in volumes. Stock price has been sustaining above 50 DEMA resistance. Weekly RSI has reached above 50, indicating a sustainable up trend. Weekly MACD is now placed above signal line.
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.
