Stock market today: The Indian stock markets commenced trading on a cautious note on Monday, as investors awaited a favourable outcome from the US-Russia meeting set for this weekend.
The Nifty 50 index opened the day at 24,563.35, decreasing by 21.70 points or 0.09 percent, while the BSE Sensex began trading at 80,508.51, down 95.57 points or 0.12 percent.
Analysts noted that market volatility remains elevated, but participants are keenly observing the next actions of US President Donald Trump and are hopeful for relief from tariffs imposed on India.
Data from AMFI released on Monday indicated robust inflows into equity mutual funds during July.
Domestic investments have been absorbing the sell-offs by foreign portfolio investors (FPIs) and company promoters, and experts are optimistic that as this selling pressure subsides, the momentum from domestic flows will elevate Indian markets.
Today’s release of India’s Consumer Price Index (CPI) data is also anticipated, with expectations that it will remain significantly below the targets set by the Reserve Bank of India.
Market Views – Riyank Arora, Technical Analyst, Mehta Equities Ltd
Nifty 50 – Technical View
Nifty 50 is showing early signs of bullish momentum, with a breakout above 24,600 likely to fuel a move towards 24,750–24,800. Immediate support lies at 24,500, and as long as this holds, buying interest may continue. Momentum indicators are pointing upward, suggesting strength in large-cap names. Traders can consider a buy-on-dips approach, keeping strict stop-losses to manage intraday volatility.
Bank Nifty Outlook
Bank Nifty is holding firm above its major support at 55,000, with potential upside targets at 56,000 and 56,200. Sustained buying in major private and PSU banks is supporting sentiment. The price action remains above key short-term averages, and momentum oscillators are hinting at further gains. A close above 56,000 could extend the rally, making buy-on-dips the preferred strategy for short-term traders.
Shares to buy for short term
Riyank Arora recommends these three stocks in the short term – Indian Bank, BSE Ltd, and Hero MotoCorp.
Indian Bank – Buy at ₹673 | SL: ₹660 | Target: ₹720
Indian Bank share price has broken above recent resistance with rising volumes, signaling renewed bullish momentum. RSI is trending higher, and the price is comfortably above short-term moving averages. Sustaining above ₹673 could push the stock towards ₹720 in the short term. Traders can look for buying opportunities at current levels with a stop-loss at ₹660 for a favourable risk-to-reward setup.
BSE Ltd – Buy at ₹2,368 | SL: ₹2,275 | Target: ₹2,600
BSE share price continues its strong uptrend, supported by healthy volume activity and a bullish chart pattern. The stock is trading above all major moving averages, reflecting strong buying interest. A sustained move above ₹2,368 could trigger a rally towards ₹2,600. Positional traders may consider entering at current levels, keeping a protective stop-loss at ₹2,275 to guard against sudden reversals.
Hero MotoCorp – Buy at ₹4,643 | SL: ₹4,500 | Target: ₹4,900
Hero MotoCorp share price has formed a bullish continuation pattern after a brief consolidation. The stock is finding strong buying support above ₹4,600, and momentum indicators suggest more upside potential. Sustaining above ₹4,643 could lead to a move towards ₹4,900. Traders can consider initiating fresh long positions at current levels while maintaining a stop-loss at ₹4,500 to manage downside risk.
Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before taking any investment decisions.
