Stock market news: Indian stock indices gave back most of their earlier gains as the day went on, primarily due to US sanctions impacting key Russian crude companies and signals that the US agreement may not be completed in the near future, analysts noted. Additionally, profit-taking by investors likely contributed to the downward pressure on the stock indices.
The Sensex finished the day at 84,556.40 points, rising by 130.05 points or 0.15%, after reaching an intra-day peak of 85,290 points. Similarly, the Nifty 50 closed at 25,888.90 points, gaining just 20.30 points or 0.078%, down from the day’s high of 26,104 points.
Trade Setup for Friday
Rupak De, a Senior Technical Analyst at LKP Securities, noted that the Nifty 50 fully reversed its earlier gains during the day; however, the short-term trend continues to show strength. The daily chart shows a significant red candle, suggesting a potential pullback to the 25,700 level in the coming days.
Nonetheless, the short-term trend remains resilient, with a chance to reach higher levels around 26,200 within the next 10 to 15 days. Immediate resistance is positioned at 26,000, and if the index surpasses this level, it may advance toward 26,200.
Global Markets, Q2 results, India-US trade deal
Vinod Nair, the Head of Research at Geojit Investments, indicated that domestic equities opened strongly but later lost ground as investors realized profits after sanctions on Russian oil and the potential delay in India-US trade discussions. On the other hand, IT stocks saw gains as market sentiment brightened following Trump’s more lenient remarks regarding H1B visas.
Foreign Institutional Investors are slowly re-entering the Indian markets, buoyed by optimism of a recovery in earnings during the second half of FY26, which is anticipated to be supported by festive spending, tax incentives, and reductions in GST. With the overall mood of the domestic market improving thanks to a potential India-US agreement and increasing consumer demand, the broader market is projected to perform significantly better moving forward.
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: MTAR Technologies Ltd, Allied Blenders and Distillers Ltd, Tata Elxsi Ltd, Housing & Urban Development Corporation Ltd (HUDCO), UPL Ltd, GHCL Textiles Ltd, Indraprastha Gas Ltd, and Syngene International Ltd.
Sumeet Bagadia’s stock picks
MTAR Technologies Ltd: Bagadia recommends buying MTAR Technologies share price at ₹2,291 keeping a stoploss at ₹2,215 with a MTAR Technologies share price target of ₹2,470.
MTAR Technologies share price has delivered a strong bullish breakout, closing at ₹2,291 — up by over 7% for the session, and finishing close to the day’s high, which clearly indicates strong buying momentum and renewed investor confidence. The stock witnessed a robust up-move from the 2150 zone, extending its short-term uptrend and marking one of its most powerful daily gains in recent weeks.
Given the current technical setup, MTAR Technologies share price looks poised to extend gains towards the 2,470 level in the near term. Any minor pullback towards 2,250–2,240 should be considered as a buy-on-dips opportunity, as long as the stop loss of 2,215 is maintained.
Allied Blenders and Distillers Ltd: Bagadia recommends buying Allied Blenders share price at ₹625 keeping a stoploss at ₹605 with a Allied Blenders share price target of ₹670.
Allied Blenders share price has delivered a strong bullish breakout, closing at 625, up 3.6% for the day, and finishing near the session’s high — a clear indication of aggressive buying interest. The stock has been in a steady uptrend over recent weeks and is now showing renewed momentum on the back of rising volumes and positive sentiment.
The overall setup remains positive; any dip towards 620–615 levels can be used as a buying opportunity. Based on the above technical analysis, we recommend buying Allied Blenders share price at the CMP of 625, with a stop loss of 605 and an upside target of 670 for a short- to medium-term outlook.
Ganesh Dongre’s stocks to buy today
Tata Elxsi Ltd: Ganesh Dongre recommends buying Tata Elxsi share price at ₹5,485 with a stoploss at ₹5,400 with Tata Elxsi share price target of ₹5,700.
Tata Elxsi 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 ₹5,485 and has established a solid support base at ₹5,400. 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 ₹5,700 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 ₹5,400 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
Housing & Urban Development Corporation Ltd (HUDCO): Ganesh Dongre recommends buying HUDCO share price at ₹229 with a stoploss at ₹225 with HUDCO share price target of ₹240.
HUDCO share price has exhibited a strong notable continue bullish pattern, offering another promising opportunity for short-term traders. The stock is currently priced at ₹229 and maintaining a strong support at ₹225. The technical setup indicates the potential for a price retracement towards the ₹240 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 ₹225 offers a prudent approach to capturing the anticipated upside.
UPL Ltd: Ganesh Dongre recommends buying UPL share price at ₹676 with a stoploss at ₹665 with UPL share price target of ₹700.
UPL share price has exhibited a strong notable continue bullish pattern, offering another promising opportunity for short-term traders. The stock is currently priced at ₹676 and maintaining a strong support at ₹665. The technical setup indicates the potential for a price retracement towards the ₹700 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 ₹665 offers a prudent approach to capturing the anticipated upside.
Shiju Koothupalakkal intraday stocks for today
GHCL Textiles Ltd: Shiju Koothupalakkal recommends buying GHCL Textiles share price at ₹80.40 with a GHCL Textiles share price target of ₹86 with a stop loss of ₹78.50.
GHCL Textiles share price after a short period of consolidation has indicated a strong bullish candle to move past the important 50EMA level at 80 zone to improve the bias and can expect further upward move in the coming days. The RSI has once again improved with a positive trend reversal after being flat for quite some time and with upside potential visible, can carry on with the positive move further ahead. With the chart technically looking good, we suggest buying the stock for an upside target of 86 keeping the stop loss of 78.50 level.
Indraprastha Gas Ltd: Shiju Koothupalakkal recommends buying Indraprastha Gas share price at ₹214.75 with a Indraprastha Gas share price target of ₹227 with a stop loss of ₹209.
Indraprastha Gas share price has indicated a bullish candle formation on the daily chart with significant volume participation visible, maintaining the 200 period MA at 204 as a good support zone and can anticipate for further rise in the coming sessions. The RSI is well placed and has shown improvement with a positive trend reversal to signal a buy and can expect further gains to carry on with the positive move further ahead. With the chart technically looking good, we suggest buying the stock for an upside target of 227 keeping the stop loss of 209 level.
Syngene International Ltd: Shiju Koothupalakkal recommends buying Syngene share price at ₹661.25 with a Syngene share price target of ₹695 with a stop loss of ₹648.
Syngene share price has recently witnessed a decent pullback with currently having a strong positive candle formation moving past the important 50EMA level at 647 zone to improve the bias and can expect further upward move in the coming days. The RSI is on the rise indicating strength and with upside potential visible, can carry on with the positive move further ahead. With the chart technically looking good, we suggest buying the stock for an upside target of 695 keeping the stop loss of 648 level.
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.
