Stock market today: Indian stock markets started on a positive note on Tuesday, supported by strong global cues, with IT stocks driving the gains.
The benchmark Sensex rose 342.39 points, or 0.42 per cent, to 81,129.69 at the open, while the Nifty 50 climbed 90.95 points, or 0.37 per cent, to 24,864.10 in early trade.
Broader market indices on the NSE witnessed positive momentum, with the Nifty Midcap 100 rising 0.28 per cent and the Nifty Smallcap 100 advancing 0.32 per cent. The Nifty 100 index also climbed 0.3 per cent in the opening session, indicating an overall upbeat sentiment in the market.
“Nifty started the week on a muted note; however, sustained buying on the back of GST reform 2.0 drove the index higher, closing at 24,741 on Friday, up 314 points for the week. A sustained move above 25,000 could trigger buying momentum, taking the index towards 25,200–25,500, while a breach below 24,650 may invite selling pressure, dragging it lower towards 24,500–24,300. For the week ahead, we expect Nifty to trade within the broader 25,500–24,300 range with a mixed bias,” brokerage firm Axis Securities said in a note.
Stocks to buy
Kaynes Technology India: Buy at ₹6760-6626 | Upside: 13% – 17% | Stop Loss: ₹6250
KAYNES has registered a decisive breakout above the multiple resistance zone at 6,530 on the weekly chart, accompanied by a strong bullish candle, marking the end of its consolidation phase and the continuation of the medium-term uptrend.
It continues to maintain a higher high– higher low formation and is comfortably positioned above its rising trendline, reflecting sustained buying interest.
Hindalco Industries: Buy at ₹735-720 | Upside: 8% – 13% | Stop Loss: ₹702
HINDALCO has given a decisive breakout above the medium-term multiple resistance zone around 715 on the weekly chart, backed by a strong bullish candle—signalling the onset of its medium-term uptrend.
The stock is trading well above its 20, 50, 100, and 200-day SMAs, underscoring robust strength and an improving trend structure.
Carysil: Buy at ₹955-937 | Upside: 13% – 18% | Stop Loss: ₹885
CARYSIL has decisively broken out above the inverted head and shoulder pattern at 933 on the weekly chart with a strong bullish candle, marking the onset of a medium-term uptrend.
The breakout is supported by rising volumes, lending conviction to the price action and signalling further upside potential. The stock is also holding above the 38% Fibonacci retracement of the 482-944 rally, placed at 772, establishing a strong medium-term support base.
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.
