Stock market today: The Indian stock markets started the day in the red on Friday as ongoing tariff disputes, driven by US President Donald Trump, alongside disappointing earnings from the IT sector, dampened investor morale.
The benchmark Nifty 50 index began trading at 25,255.50, marking a decline of 99.75 points or 0.39%, while the Sensex fell by 369.52 points or 0.44%, opening at 82,820.76.
Analysts linked the weak market opening to renewed concerns over tariffs and uninspiring corporate earnings, especially from the IT sector.
According to Rajesh Palviya from Axis Securities, the medium-term perspective for Nifty 50 continues to be positive, with the possibility of reaching the 25,800–26,000 range. Here’s what Palviya says about the overall market.
Share Market Tips and Nifty 50 Outlook by Rajesh Palviya, SVP – Technical and Derivatives Research, Axis Securities
Nifty 50
Nifty 50 is exhibiting a strong uptrend on the weekly chart, forming a series of higher highs and higher lows, reflecting sustained bullish sentiment. The index continues to trade above its key moving averages (20, 50, 100, and 200-day SMAs), reinforcing a positive bias. The medium-term outlook remains bullish, with upside potential toward the 25,800–26,000 zone. On the downside, immediate support is seen near the 25,000–24,500 levels. However, in the short term, Nifty 50 is consolidating within a tight range of 25,650 to 25,200, suggesting a healthy pause. The weekly RSI has flattened but remains above its reference line, indicating that momentum is intact despite the recent sideways movement.
CarTrade Tech Ltd
CarTrade share price has registered a breakout above a Symmetrical Triangle pattern on the weekly chart, confirming the continuation of its medium-term uptrend. The stock is trading firmly above its 20, 50, 100, and 200-day SMAs, reinforcing the prevailing bullish bias. Notably, the breakout was accompanied by a surge in volumes, signalling strong market participation. Furthermore, the weekly RSI has crossed above its signal line and is sustaining above the 50 mark, adding momentum to the bullish setup and triggering a fresh buy signal.
Investors should consider buying, holding, and accumulating this stock. Its expected upside is ₹1,960-2,080, and its downside support zone is the ₹1,760-1,700 levels.
EPACK Durable Ltd
Epack Durables share price has firmly held above the key support zone near 325 and staged a sharp rebound on the weekly chart, signalling the onset of a fresh uptrend. The stock has also broken above a downward sloping trendline that had been in place since January 2025, reinforcing a shift in momentum and indicating a positive bias. Additionally, the weekly RSI has crossed above its signal line, lending further strength to the bullish setup and triggering a new buy signal.
Investors should consider buying, holding, and accumulating this stock. Its expected upside is ₹408-420, and its downside support zone is the ₹356-347 levels.
Glenmark Pharmaceuticals Ltd
Glenmark Pharma share price has broken out above a well-defined Rounded Bottom formation near the 1,830 level on the weekly chart, confirming the continuation of its medium-term uptrend. The breakout above the upper Bollinger Band further strengthens the bullish signal, pointing to renewed upward momentum. Notably, volume remained muted during the pattern formation but spiked at the breakout, indicating strong market participation. Additionally, the weekly RSI continues to hold above its signal line, reinforcing the positive bias and supporting the bullish outlook.
Investors should consider buying, holding, and accumulating this stock. Its expected upside is ₹2,090-2,150, and its downside support zone is the ₹1,860-1,780 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.
