Stock market news: The domestic benchmark indices, Sensex and Nifty 50, continued their upward trend on Friday, reflecting gains for the second consecutive session.
This increase was supported by buying activity in the metal and telecom sectors, buoyed by positive momentum in global markets.
The 30-share BSE Sensex rose by 223.86 points, or 0.28%, closing at 81,207.17. Throughout the day, it fluctuated between a high of 81,251.99 and a low of 80,649.57, demonstrating a range of 602.42 points. Similarly, the Nifty 50 increased by 57.95 points, or 0.23%, settling at 24,894.25.
Looking at the weekly performance, the BSE benchmark gained 780.71 points, or 0.97%, while the Nifty 50 also rose by 239.55 points, reflecting a 0.97% increase.
Trade Setup for Monday
Vatsal Bhuva, Technical Analyst at LKP Securities, mentioned that the Nifty 50 index strengthened in Friday’s session after confidently closing above its short-term resistance. The index found crucial support near its 100-day EMA at 24,750 and finished the day strongly around the 50-day EMA.
On the derivatives front, heavy put writing at 24,800 indicates a solid support base, while the highest open interest concentration at 25,000 marks a significant resistance zone, which is further validated by the technical charts. Overall, the Nifty 50 is anticipated to trade within a mildly bullish range of 24,750 to 25,100, with support at 24,750 and resistance levels set between 25,000 and 25,100.
Global Markets, H2 FY26 earnings to FIIs
Vinod Nair, Head of Research at Geojit Investments, stated that looking ahead, market momentum is expected to be supported by strong earnings in H2 FY26 and seasonal demand tailwinds. However, global trade developments and US policy actions may introduce short-term volatility. The recent 25-basis point rate cut by the Federal Reserve, along with the potential for further easing, is likely to enhance Foreign Institutional Investor (FII) inflows into emerging markets. Notably, India’s valuation premium over its emerging market peers has moderated, which creates opportunities for incremental foreign allocations and reinforces a positive near-term outlook.
Stocks to buy today
Regarding stocks to buy today, market experts-Sumeet Bagadia, Executive Director at Choice Broking; Ganesh Dongre, Senior Manager of Technical Research at Anand Rathi and Shiju Koothupalakkal, Senior Manager of Technical Research at Prabhudas Lilladher, recommended these seven intraday stocks for today: Indian Bank, Poonawalla Fincorp Ltd, TVS Motor Company Ltd, JB Chemicals & Pharmaceuticals Ltd, Punjab National Bank, HBL Engineering Ltd, Techno Electric & Engineering Company Ltd, and CG Power and Industrial Solutions Ltd.
Sumeet Bagadia’s stock picks
Indian Bank: Bagadia recommends buying Indian Bank share price at ₹765.95 keeping a stoploss at ₹740 with a Indian Bank share price target of ₹818.
Indian Bank share price was trading at 765.95, the stock is currently displaying a Long-term uptrend, evident from its recent strong rally. The price structure is forming a sequence of higher lows and higher highs in recent sessions and has formed a new all-time high at 769.3, indicating strong bullish momentum. This bullish structure is supported by rising volumes, confirming the strength behind the price action. The overall trend remains firmly positive, with the 20, 50, 100, and 200-day Exponential Moving Averages all trending upward-underscoring sustained demand and strengthening bullish sentiment across short- to long-term timeframes.
In conclusion, based on current technical conditions, Indian Bank share price offers a strong buying opportunity for short-term traders targeting 818, provided sound risk management measures are maintained.
Poonawalla Fincorp Ltd: Bagadia recommends buying Poonawalla Fincorp share price at ₹524.4 keeping a stoploss at ₹506 with a Poonawalla Fincorp share price target of ₹562.
Poonawalla Fincorp share price is currently trading at 524.40 and has recently made an all-time high, reflecting strong bullish momentum. On the weekly timeframe, the stock has formed a rounding bottom pattern and given a breakout from the trend line, leading to an all-time high close. The daily chart structure also remains constructive as the stock continues to form higher highs and higher lows, reaffirming the strength of the prevailing uptrend.
In conclusion, based on current technical conditions, Poonawalla Fincorp share price offers a strong buying opportunity at the current market price of 524.40, with a stop-loss at 506 and an upside target of 562, provided sound risk management measures are maintained.
Ganesh Dongre’s stocks to buy today
TVS Motor Company Ltd: Ganesh Dongre recommends buying TVS Motor share price at ₹3,447 with a stoploss at ₹3,350 with TVS Motor share price target of ₹3,700.
TVS Motor share price has been exhibiting a strong and consistent bullish pattern, indicating sustained investor interest and positive price momentum. The stock is currently trading at ₹3,447 and has established a solid support base at ₹3,350. This level has historically acted as a cushion, and the recent price action suggests a reversal from this support, reinforcing bullish sentiment.
The technical setup points to the potential for a price retracement toward the ₹3,700 level in the near term. Given the renewed strength and the favorable risk-reward ratio, entering at the current market price with a stop-loss placed at ₹3,350 offers a strategic opportunity to capture the expected upside move. The outlook remains positive as long as the stock holds above its key support zone
JB Chemicals & Pharmaceuticals Ltd: Ganesh Dongre recommends buying JB Chemicals share price at ₹1,668 with a stoploss at ₹1,640 with JB Chemicals share price target of ₹1,750.
JB Chemicals share price has exhibited a strong notable continue bullish pattern, offering another promising opportunity for short-term traders. The stock is currently priced at ₹1,668 and maintaining a strong support at ₹1,640.
The technical setup indicates the potential for a price retracement towards the ₹1,750 level. With the stock reversing from a support base and showing signs of renewed strength, entering at the current market price with a stop-loss at ₹1,640 offers a prudent approach to capturing the anticipated upside.
Punjab National Bank (PNB): Ganesh Dongre recommends buying Punjab National Bank share price at ₹114 with a stoploss at ₹109 with Punjab National Bank share price target of ₹119.
PNB share price has exhibited a strong notable continue bullish pattern, offering another promising opportunity for short-term traders. The stock is currently priced at ₹114 and maintaining a strong support at ₹109.
The technical setup indicates the potential for a price retracement towards the ₹119 level. With the stock reversing from a support base and showing signs of renewed strength, entering at the current market price with a stop-loss at ₹109 offers a prudent approach to capturing the anticipated upside.
Shiju Koothupalakkal intraday stocks for today
HBL Engineering Ltd: Shiju Koothupalakkal recommends buying HBL Engineering share price at ₹846.50 with a HBL Engineering share price target of ₹900 with a stop loss of ₹826.
HBL Engineering share price after witnessing a consolidation period sustaining the support at 805 zone, has indicated a spurt with significant volume participation visible anticipating for further rise in the coming sessions.
The RSI has corrected well from the overbought zone and has indicated a positive trend reversal to signal a buy with much upside potential visible to carry on with the positive move further ahead. With the chart technically looking attractive, we suggest buying the stock for significant upward move for target of 900 keeping the stop loss at 826 level.
Techno Electric & Engineering Company Ltd: Shiju Koothupalakkal recommends buying Techno Electric share price at ₹1,372 with a Techno Electric share price target of ₹1,440 with a stop loss of ₹1,344.
Techno Electric share price has recently taken support near the base of the descending channel on the daily chart at 1,270 zone, thereafter, has indicated a significant pullback moving past the important 200 period SMA at 1,300 level with currently having a positive candle formation with improvement in the bias and significant volume participation visible anticipating for further rise in the coming days.
The RSI has recovered from the highly oversold zone to signal a buy and with much upside potential visible, can expect for further gains. With the chart technically looking good, we suggest to buy the stock for an upside target of 1,440 keeping the stop loss of 1,344 level.
CG Power and Industrial Solutions Ltd: Shiju Koothupalakkal recommends buying CG Power share price at ₹747 with a CG Power share price target of ₹785 with a stop loss of ₹730.
CG Power share price recently witnessing a short period of correction from 797 level, has consolidated with support maintained near 730 zone, with currently indicated signs of revival with volume participation visible improving the bias.
The RSI has cooled off significantly from the highly overbought zone and is currently well positioned indicating a positive trend reversal to signal a buy and can carry on with the positive move further ahead. With the chart technically looking attractive, we suggest buying the stock for an upside target of 785 keeping the stop loss at the 730 level.