Stock market today: The Indian stock market traded in a measured and balanced manner on Tuesday, reflecting a tug-of-war between supportive domestic fundamentals and external headwinds. Strong domestic liquidity, resilient consumption trends, and expectations of policy continuity continue to anchor investor confidence—particularly in banking and select large-cap stocks.
At the same time, cautious global sentiment and currency-related pressures restrained aggressive risk-taking. Fresh buying at lower levels, along with short covering in banking, auto, and metal stocks following the expiry of monthly derivative contracts, helped the Nifty recoup most of its intraday losses and close the session largely flat.
Following a significant decline on Monday, gold and silver prices experienced a strong pullback on Tuesday. However, the precious metals are under pressure in early morning deals on Wednesday. The COMEX gold price is trading red and quoting $4,381.45 per ounce, whereas the COMEX silver is trading red by a huge margin. The white metal is quoting around $75 per ounce, more than 3% below its close price on Tuesday.
Stock market today
Speaking on the outlook of the Nifty 50 index, Ponmudi R, CEO of Enrich Money, said, “The Nifty 50 index remains in a mild short-term corrective phase, forming a sequence of lower highs and lower lows on the daily chart, reflecting cooling momentum after recent profit-taking. The key demand zone is placed at 25,800–25,900, reinforced by the 50-day EMA and a rising trendline connecting recent swing lows. Tuesday’s session printed a neutral doji precisely at this trendline, highlighting indecision but also early signs of stabilisation.”
As long as this support zone holds, Ponmudi R of Enrich Mondy said the near-term bias remains neutral, with scope for a modest rebound towards 26,050–26,100. On the upside, 26,150–26,200 continues to act as a firm supply zone; only a decisive close above this band would revive bullish momentum and open the path towards 26,300. A sustained break below 25,900, however, could extend the corrective move towards 25,800–25,700.
On the outlook of the Bank Nifty today, Ponmudi R said, “The Bank Nifty index continues to display relative resilience compared to the broader market, though it remains in a consolidation phase with a mildly cautious undertone. The critical support band lies at 58,800–59,000, coinciding with the recent consolidation base and a rising trendline. Tuesday’s price action formed a bullish engulfing candle, fully absorbing the prior session’s range, suggesting a potential recovery from this demand zone. Immediate resistance is placed at 59,400–59,500, reinforced by heavy call open interest. A sustained breakout above 59,500 is required to shift the bias decisively bullish and unlock upside towards 59,800–60,000.”
The Enrich Money expert said that momentum indicators remain mixed, with MACD still below the signal line but showing convergence, indicating easing selling pressure. Bank Nifty is likely to trade within the 58,750–59,400 range, retaining a neutral-to-mildly positive bias as long as key supports remain intact.
Silver rates today
“The COMEX silver price has crashed over 6% in the early morning trade. Therefore, there is a high chance that MCX silver rates may open with a gap down. However, the loss may further deepen and the white metal may hit lower circuit as well,” said Anuj Gupta, Director of Ya Wealth.
Gold rate today
“Gold traded positively today with modest gains of around ₹1,200, settling near ₹1,36,100 in MCX. The recovery was supported by Comex gold finding a strong base around the $4,350 level, as market participants positioned ahead of the US Federal Reserve’s meeting minutes due on Wednesday. However, despite the rebound, heavy profit booking near recent highs continues to cap upside, while higher margin requirements and cautious positioning are keeping volumes relatively subdued. Overall, gold is expected to remain volatile, with the near-term trading range shifting higher to ₹1,32,000 to ₹1,38,500,” said Jateen Trivedi, VP Research — Commodity & Currency at LKP Securities.
USD vs INR
“Rupee strengthened by 37 paise to 89.70 against the dollar, supported by buying in banking and financial stocks. The pullback in gold and silver prices also eased pressure on the currency. However, uncertainty around the India–US trade deal remains the key macro overhang. Rupee is likely to trade in the 89.70–90.40 range in the near term,” Jateen Trivedi of LKP Securities added.
Stocks to buy today
Regarding stocks to buy today, stock market experts — Sumeet Bagadia, Executive Director at Choice Broking; Ganesh Dongre, Senior Manager of Technical Research at Anand Rathi; and Shiju Kuthupalakkal, Senior Manager of Technical Research at Prabhudas Lilladher, recommended these eight intraday stocks for today: Ashok Leyland, UPL, Shriram Finance, SAIL, Astral, Dredging Corporation of India, Paradeep Phosphates, and Mahindra & Mahindra.
Sumeet Bagadia’s stock recommendations today
1] Ashok Leyland: Buy at ₹179, Target ₹191, Stop Loss ₹173; and
2] IPL: Buy at ₹787, Target ₹840, Stop Loss ₹760.
Ganesh Dongre’s buy or sell stocks
3] Shriram Finance: Buy at ₹980, Target ₹1015, Stop Loss ₹960;
4] SAIL: Buy at ₹140, Target ₹149, Stop Loss ₹134; and
5] Astral: Buy at ₹1360, Target ₹1410, Stop Loss ₹1340.
Shiju Kuthupalakkal’s intraday stocks for today
6] Dredging Corporation of India: Buy at ₹1005, Target ₹1050, Stop Loss ₹980;
7] Paradeep Phosphates: Buy at ₹165, Target ₹175, Stop Loss ₹161; and
8] Mahindra & Mahindra: Buy at ₹3660, Target ₹3785, Stop Loss ₹3600.
Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
