Stock market today: The domestic benchmark indices, Nifty 50 and Sensex, dipped on Friday following a pullback in significant financial and information technology stocks after a week of gains.
As of 13:45 IST, the Nifty 50 decreased by 0.26% to 24,996.15, while the Sensex fell by 0.32% to 82,270.09.
On Thursday, the indexes reached their highest levels in seven months after US President Donald Trump announced that India had proposed a trade agreement with no tariffs. Over the past four sessions, they have climbed approximately 4%, supported by a ceasefire between India and Pakistan after a recent border conflict.
Prashanth Tapse from Mehta Equities anticipates that the Nifty 50 will continue to rise towards the 25,200–25,300 range in the near future. Tapse is of the opinion that any drop to around 25,000 is expected to attract buyers. Here’s what Prashanth Tapse thinks about the overall market.
Market Views – Prashanth Tapse, Research Analyst, Senior Vice President of Research at Mehta Equities
Nifty 50
Nifty 50 witnessed a strong breakout above the psychological mark of 25,000, closing firmly around 25,100, indicating robust bullish sentiment. The bullish candle formation and strengthening momentum indicators like RSI (14) near 67 and ROC above zero suggest continued buying interest. With momentum picking up, we expect further upside towards 25,200–25,300 in the short term. Any dip towards 25,000 is likely to be bought into.
Resistance: 25,200 → 25,300
Bank Nifty – Technical Outlook & Key Levels
Bank Nifty also broke past the key hurdle of 55,000, confirming a breakout and reinforcing bullish momentum. The index now looks poised to test 55,750–56,000 in the coming sessions. A rise in volumes supports the strength, and RSI (14) at 62 adds to the positive bias. The trend remains upward as long as it holds above 55,000.
Resistance: 55,750 → 56,000
Shares to buy for short term
Prashanth Tapse recommends buying these three stocks in the short term – Tata Motors, Titagarh Rail Systems, and Kotak Mahindra Bank.
Tata Motors – CMP: ₹733 | Buy | Target: ₹770 | Stop Loss: ₹715
Tata Motors has shown strong resilience near its support level of ₹715, bouncing back with heavy volumes. The stock is trading above key short-term moving averages, signaling strength. The RSI (14) has reversed upwards, indicating renewed buying interest. A breakout above ₹735 will likely confirm continuation towards ₹770 in the near term. The auto sector remains buoyant, and Tata Motors is benefiting from steady domestic demand and consistent EV growth. With favorable technicals and sector tailwinds, the stock offers a good short-term opportunity. A stop loss at ₹715 is advised to manage downside risk efficiently.
Titagarh Rail Systems – CMP: ₹852 | Buy | Target: ₹900 | Stop Loss: ₹825
Titagarh Rail has formed a bullish flag pattern and broken out above the ₹840 zone on strong volume, indicating institutional buying. The RSI (14) is at 65, supporting sustained strength, while the MACD has just turned positive, adding to the bullish conviction. Technically, a close above ₹855 can accelerate momentum toward ₹900. The stock remains in an upward trajectory, and dips are being bought into. Maintain a strict stop loss at ₹825 to protect capital.
Kotak Mahindra Bank – CMP: ₹2,097 | Buy | Target: ₹2,160 | Stop Loss: ₹2,060
Kotak Mahindra Bank has regained bullish momentum after consolidating near ₹2,060–2,080 levels. The breakout above ₹2,090, supported by improved volumes, indicates growing investor confidence. RSI (14) has crossed 60, suggesting strength in trend continuation, while MACD shows a fresh crossover, confirming upward bias. With banking stocks gaining traction and Bank Nifty showing strength, Kotak Bank could follow suit with a move toward ₹2,160. The structure remains positive as long as it holds above ₹2,060. Fundamentally, the bank remains strong, with improving asset quality and stable growth outlook, making it a solid pick for short-term upside.
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.
