Stock market today: The selling trend persisted in Indian stock markets on Friday, with both major indices extending their losses for the week, falling by nearly 1 percent due to weak investor sentiment and uncertainty surrounding the much-anticipated trade agreement between India and the US.
The Nifty 50 index began the day at 25,433.80, decreasing by 75.90 points or 0.30%, while the BSE Sensex opened at 83,150.15, dropping by 160.86 points or 0.19%.
Market analysts pointed out that the ongoing pressure in domestic equities is primarily a result of external factors and the lack of strong signals. In the wider market, the selling pressure was apparent across various indices. The Nifty 100 fell by 0.52%, the Nifty Midcap 100 decreased by 0.37%, and the Nifty Smallcap 100 dropped by 0.71%.
Share Market Tips and Nifty 50 Outlook by Rajesh Palviya, SVP – Technical and Derivatives Research, Axis Securities
Nifty 50
Nifty 50 has broken out above the downward-sloping trendline drawn from its all-time high, with the breakout point near 25,450. However, post-breakout, the index is encountering stiff resistance around the 26,000 mark. Immediate support lies at 25,450, a decisive close below this level may accelerate a correction towards 25,300–25,000. On the flip side, a sustained move above 25,750 would validate the breakout, opening the door for fresh upside momentum towards 26,000–26,300.
Stock Picks
Biocon Ltd Cmp: ₹385
Biocon share price has staged a strong rebound after finding support at the upward-sloping trendline, which has remained intact since early March 2025. It has formed a sizable bullish candle, breaking decisively above the recent swing high of 373, accompanied by robust volumes, indicating strong bullish participation. Additionally, the RSI on the weekly timeframe has witnessed a positive crossover above its reference line, generating a fresh buy signal. The indicator’s position above the 50 mark further highlights a positive momentum bias, strengthening the overall bullish outlook.
Investors should consider buying, holding, and accumulating this stock. Its expected upside is 410-430, and its downside support zone is the 370-355 levels.
Indus Towers Ltd Cmp: ₹399
Indus Towers share price has decisively broken out of its consolidation range between 330 and 370, marking a clear shift in momentum. The surge in volume activity during the breakout confirms strong market participation and lends credibility to the move. On the technical front, the weekly RSI has crossed above its reference line, generating a buy signal, while also breaking above its downward-sloping trendline, thereby validating a bullish breakout in momentum.
Investors should consider buying, holding, and accumulating this stock. Its expected upside is 430-460, and its downside support zone is the 380-365 levels.
Dabur India Ltd Cmp: ₹523
Dabur India share price has staged a strong reversal from the 61.8% Fibonacci retracement level of the rally from 433 to 577, placed near 488. The move is supported by a robust bullish candle and rising volumes, signalling renewed buying interest and strengthening sentiment. It continues to trade well above its 20, 50, 100, and 200-day SMAs, all of which are sloping upward, reaffirming the underlying bullish trend. Moreover, the RSI across daily and weekly timeframes is trending higher, indicating rising strength and sustained positive momentum in the stock.
Investors should consider buying, holding, and accumulating this stock. Its expected upside is 575-600, and its downside support zone is the 500-475 levels.
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.
