Stock market today: Indian stock markets began the day on a flat note on Wednesday, as a blend of domestic and global uncertainties prompted investors to adopt a cautious stance ahead of the Reserve Bank of India’s monetary policy announcement and significant geopolitical events, including an important meeting between the US and Russia.
The sentiment remained subdued as market participants sought clarity on various issues.
The Nifty 50 index started at 24,641.35, showing a slight decrease of 8.20 points or 0.03 percent. Similarly, the BSE Sensex opened marginally lower at 80,694.98, down by 15.27 points or 0.02 percent.
Market analysts observed that the existing uncertainty, fueled by expectations regarding monetary policy and geopolitical conflicts, has led investors to adopt a wait-and-see approach.
Nifty 50 Outlook by Sagar Doshi, Senior Vice President- Research, Nuvama Professional Clients Group
Nifty 50
Nifty 50 has been trading within a 2% range for the past 7 trading days as the index has given a breakdown from a bearish head and shoulders pattern below 24,830 odd. Targets for the same have opened up for 24,600 (achieved) and there after a retest of 24,200 is on cards. Markets have been waiting for an event trigger ahead of the RBI Policy outcome scheduled for the day. The index is not out the woods and a quick short covering move towards 25,000 opens up on closing above 24,785.
Bank Nifty
Bank Nifty has witnessed a slow grind and lost 1000 odd points in the last one week of trading. The index has been trading below its short term support of 55,800 from the start of this week which had opened up for a downside towards 55,300 /55,100. On the longer term charts this range of 55,100 – 55,300 co indices with a long term 5 year trendline’s – polarity support. An event – positive or negative is likely to set the tone from here on. Reference points to be seen on a weekly closing basis this week are below 55,100 and above 55,300 for a 4-5% move to unfold on the index.
Stock Picks: Stocks To Buy on Wednesday- Sagar Doshi
On stocks to buy on Wednesday, Sagar Doshi of Nuvama recommended three stocks – Amber Enterprises India Ltd, Cummins India Ltd, and Eicher Motors Ltd.
Amber Enterprises India Ltd (BUY): LCP: ₹7,891; SL: ₹7,680; TGT: ₹8,450
Stock has given a bullish cup and handle breakout on daily and weekly charts and has since been consolidating for the past couple of trading days. Targets for this pattern after a huge corrective consolidation from the start of this calendar year are northwards of 9000 on a medium term time frame. But for the current momentum play we are seeing a 8-10% upside in the current leg itself.
Cummins India Ltd (BUY): LCP: ₹3,591; SL: ₹3,481; TGT: ₹3,900
After its breakout from a one year correction in June 2025, stock has been gaining strength and seeing supply despite a weaker broader market. Every single digit percentage loss has been bought into the past trading days while the stock aims to cross its previous all time highs, the current breakout suggests for an up move towards ₹3,900.
Eicher Motors Ltd (BUY): LCP: ₹5,681; SL: ₹5,550; TGT: ₹5,990
Stock has given a 3 month bullish triangle breakout for targets of new all time highs. On daily and weekly charts, lower high formation has also been seen which suggests presence of buyers at lower levels and supplies are being bought. Stock is on the verge of giving highest ever weekly closing on charts this week.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
