Stock market today: The benchmark Nifty 50 index started the new week with 0.81% gains, ending at 24,625.05 on Monday. The Bank Nifty at 54,002.45 also rebounded 0.65%, while Auto, IT, metals and realty were among key gainers.
However, Pharma indices stood among the key losers. Among the broader indices, mid- and small-caps ended with 1.5-2% gains.
Trade Setup for Tuesday
The Nifty-50 index now faces a key resistance zone around 24,700 and a breakout above this level could trigger an upside move towards 24,900. As long as Nifty trades below 25,000, pullbacks may attract selling pressure,* said Nilesh Jain, Head – Technical and Derivatives Research Analyst (Equity Research), Centrum Broking Ltd.
Bank Nifty has immediate support at 53,200-53,500,* as per Bajaj Broking.
SCO Summit 2025
Prime Minister Narendra Modi returned to New Delhi on Monday evening, concluding his four-day visit to Japan and China, which spanned from August 29 to September 1.
Describing the visit as “productive” in a post on X, PM Modi said he emphasised India’s position on key global issues during his engagements.
On the SCO summit, PM Modi wrote on X, “Concluding a productive visit to China, where I attended the SCO Summit and interacted with various world leaders. Also emphasised India’s stand on key global issues. Thankful to President Xi Jinping, the Chinese government and people for the successful organisation of this Summit.”
Trump tariff news
On the geo-political front, there is optimism over PM Modi’s meeting with his Chinese and Russian counterparts in the ongoing SCO summit in China. Overall, the domestic macro backdrop and demand environment remains constructive, though the overhang of 50% US tariffs and persistent FII selling could keep the market range bound, said Siddhartha Khemka – Head of Research, Wealth Management, Motilal Oswal Financial Services Ltd.
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 eight intraday stocks for today: UNO Minda Ltd., Eicher Motors Ltd., Reliance Industries Ltd.,PNC Infratech Ltd., Bank of India, Paradeep Phosphates , Zuari Agro Chemicals Ltd and HEG Ltd.
Sumeet Bagadia’s stock picks
- UNO Minda Ltd: Bagadia recommends buying UNOMINDA at around ₹1314.6 keeping Stoploss at ₹1275 for a target price of ₹1394
UNOMINDA is trading at 1314.6, registering a strong breakout from a prolonged consolidation phase with robust volumes, highlighting renewed participation and strong entry of fresh buyers that have fueled the ongoing momentum. The stock is well-positioned above its 20, 50, 100, and 200-day EMAs, all trending upward, which confirms sustained strength across multiple timeframes and reflects solid underlying demand.
2. Eicher Motors Ltd-Bagadia recommends buying EICHERMOT at around ₹6280 keeping stoploss at ₹6091 for a target price of ₹6656
EICHERMOT is currently trading at 6280 and maintaining a strong upward trajectory. The stock has been forming a series of higher highs and higher lows, indicating sustained bullish momentum. A breakout from the Symmetrical Triangle formation has confirmed a bullish Trend pattern, signaling a transition from accumulation to an upward trend. This breakout is further validated by the stock marking a fresh All-time high of 6292, supported by consistent volume activity.
Ganesh Dongre’s stocks to buy today
3. Reliance Industries Ltd – Dongre recommends buying reliance at around ₹1354 keeping stoploss at ₹1326 for a target price of ₹1387.
A short-term trend analysis of the stock reveals encouraging technical signals that suggest a potential bullish reversal. On the short term chart, a prominent bullish engulfing candlestick pattern has emerged, signaling a shift in momentum from selling pressure to buying interest. Adding strength to this view, the Relative Strength Index (RSI) has recently entered the oversold zone, indicating that the stock may be poised for a rebound from current levels. This confluence of technical indicators increases the likelihood of a near-term price retracement.
4. PNC Infratech Ltd– Dongre recommends buying PNCINFRA at around ₹303 keeping Stoploss at ₹295 for a target price of ₹315
In the recent short-term trend analysis, the stock has shown signs of a potential bullish retracement, supported by emerging technical indicators. A reversal pattern on the chart suggests the possibility of an upward move, with a near-term target around Rs.315.
5. Bank Of India- Dongre recommends buying BANKINDIA at around ₹112 keeping Stoploss at ₹108 for a target price of ₹118.
A recent short-term analysis of the stock reveals the emergence of a bullish reversal pattern on the chart, indicating a possible near-term price rebound. This formation suggests the potential for a move towards the Rs.118 level, supported by improving price action.
The stock is currently trading at Rs.112, while holding above a key support zone at Rs.108, which has acted as a reliable floor in recent sessions. This support level reinforces the bullish bias and provides a favorable base for a potential upward move.
Shiju Koothupalakkal intraday stocks for today
6. Paradeep Phosphates Ltd – Koothupalakkal recommends buying PARADEEP PHOSPHATE at around ₹228for a target price of ₹242 keeping Stop loss at ₹223
The stock has recently witnessed a strong spurt and after a short consolidation period has once again shown signs of positive spurt with decent volume participation to anticipate for further rise in the coming sessions. With the technical parameters well poised, we expect further gains having much upside potential visible and suggest buying the stock .
7. Zuari Agro Chemicals Ltd – Koothupalakkal recommends buying ZUARI AGRO at ₹371.60for a target price of ₹394keeping Stoploss at ₹363
The stock having recently witnessed a significant spurt has maintained the strong trend intact and after a short period of correction has once again indicated a pullback to improve the bias anticipating for further rise in the coming sessions. The RSI has cooled off from the overbought zone and has indicated strength with much upside potential visible. With the chart technically looking good, we suggest buying the stock.
8. HEG Ltd– Koothupalakkal recommends buying HEG LTD at around ₹478.45for a target price of ₹505keeping Stop loss at ₹468
The stock after witnessing a decent correction has shown signs of taking support near the ₹460 zone and with a positive candle formation moving past the important 200 period SMA at ₹470 level has improved the bias expecting for further rise in the coming sessions. The RSI has arrived near the oversold zone and has indicated a positive trend reversal to signal a buy with strength indicated and having much upside potential to carry on with the positive move further ahead. With the chart technically looking good, we suggest buying the stock.