Buy or sell stocks: The Indian stock market witnessed a measured recovery in the latest session after a volatile corrective phase, with the Nifty 50 closing 0.46% higher at 25,571.25, the Sensex advancing 0.38% to 82,814.71, and the Bank Nifty outperforming with a 0.71% gain to 61,172.00. The rebound was primarily driven by strength in banking, metals, and energy stocks, which helped offset lingering weakness in the IT sector and concerns stemming from US-Iran tensions and global trade uncertainties.
DIIs continued to act as a stabilising force against FIIs’ outflows, while positive PMI readings reinforced confidence in resilient private sector activity, particularly in manufacturing. The recent pullback is viewed as a corrective move within a broader uptrend, with key supports holding firm and earnings momentum limiting downside risk.
Outlook for the Indian stock market
Sumeet Bagadia, Executive Director at Choice Broking, believes the Indian stock market will trade sideways to positive until the Nifty 50 index is in the 25,400 to 25,900 range. The Choice Broking expert said the 50-stock index will need to deliver a decisive breakout above 25,888 to set a fresh uptrend bias.
Speaking on the outlook of the Nifty 50 index, Sumeet Bagadia said, “From a technical perspective, the 25,400–25,450 range now acts as a key near-term support zone, while the 25,700–25,750 band continues to act as immediate resistance. However, sustained holding above support after yesterday’s correction keeps the broader structure intact. A decisive breakout above 25,888 would be required to revive stronger upside momentum in the near term.”
On the outlook of the Bank Nifty index, Bagadia said, “Structurally, the index is holding firmly above the psychological 61,000 level, which reflects underlying strength despite recent volatility. The 60,800–60,900 zone now acts as an important near-term demand and support area, supported by steady price action. On the upside, immediate resistance is placed near 61,400–61,500, and a sustained breakout above this band would likely push the index towards its all-time high levels again, reinforcing the prevailing bullish structure.”
Sumeet Bagadia’s stock recommendations
Regarding stocks to buy for intraday trading, Sumeet Bagadia recommended buying these three shares: Coal India, LT, and Canara Bank.
1] Coal India Ltd: Buy at ₹423, Target ₹455, Stop Loss ₹405.
Coal India’s share has shown a constructive bullish setup after a long consolidation phase and is now trading above all key EMAs, indicating strengthening trend momentum. The recent price action highlights a clear bounce from the 100-day EMA near the ₹405 zone, which is acting as a strong dynamic support and aligns well with the proposed stop-loss level.
2] LT: Buy at ₹4380, Target ₹4686, Stop Loss ₹4190.
LT’s share price is trading near its all-time high, reflecting a strong primary uptrend supported by higher highs and higher lows on the daily chart. The stock is firmly positioned above all key EMAs, which are trending upward and confirming sustained bullish strength.
3] Canara Bank: Buy at ₹154, Target ₹166, Stop Loss ₹148.
Canara Bank’s share price is trading close to its 52-week high, indicating strong bullish sentiment and sustained buying momentum. The price has recently taken support near the 100-day EMA and continues to hold firmly above the 20 and 50 EMA cluster around the ₹148 zone, which forms a strong confluence support area and justifies the defined stop-loss level.
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.
