Markets remained volatile on Wednesday. Nifty 50 closed lower at 24,752.45, down 0.3%. Meanwhile, Bank Nifty showed some strength, up 0.12%, mainly led by PSU banks. FMCG and healthcare stocks dragged, while the small-cap index held slightly in the green. Midcaps stayed flat.
Trade Setup for Thursday
On monthly expiry day, Nifty is expected to take support around 24,600 — that’s where the 20-day EMA is currently sitting. Resistance continues to be strong around 24,900 to 25,000.
Bank Nifty is still struggling near the 56,000–56,100 zone. On the downside, support comes in near 54,830.
With FIIs staying on the sidelines and valuations still rich, we’re likely to stay range-bound. Global cues remain cautious due to the uncertainty in India–US trade ties now that the 90-day pause period has ended.
On the domestic front, there’s some positive sentiment with a better monsoon forecast, stable inflation, and expectations of a strong Q4 GDP. But until earnings visibility improves, we’re unlikely to see a decisive direction.
8 Stocks to Keep on Your Radar
Recommendations by Sumeet Bagadia (Choice Broking)
1. Force Motors (FORCEMOT)
•Buy at: ₹11,764
•Target: ₹12,550
•Stop Loss: ₹11,350
•The stock is showing strength after a brief consolidation. It’s holding above key EMAs and momentum looks intact.
2. Astra Microwave (ASTRAMICRO)
•Buy at: ₹1,163.70
•Target: ₹1,240
•Stop Loss: ₹1,122
•Broke out above major resistance at ₹1,100 with strong volume. Holding near day’s high — momentum looks bullish.
Recommendations by Ganesh Dongre (Anand Rathi)
3. SRF Ltd
•Buy at: ₹2,900
•Target: ₹3,100
•Stop Loss: ₹2,840
•Technical structure points to a possible reversal. Could move back toward ₹3,100 in the short term.
4. Cummins India (CUMMINSIND)
•Buy at: ₹2,975
•Target: ₹3,100
•Stop Loss: ₹2,935
•Price action shows a clean bounce from ₹2,935 support. The trend may continue.
5. ICICI Prudential Life (ICICIPRULI)
•Buy at: ₹658
•Target: ₹695
•Stop Loss: ₹640
•Looks like it’s finding its footing around ₹640. A short-term pullback toward ₹695 is possible.
Picks from Shiju Koothupalakkal (Prabhudas Lilladher)
6. TD Power Systems (TDPOWERSYS)
•Buy at: ₹489
•Target: ₹520
•Stop Loss: ₹480
•Forming a bullish structure. Looks good for a short-term move toward ₹520.
7. Tanla Platforms (TANLA)
•Watch above recent range breakout with volume. Not a buy yet, but on the edge.
8. Indraprastha Gas Ltd (IGL)
•Accumulation visible. Wait for confirmation before entering.
My View
Thursday being expiry day, we’re likely to see some intraday swings. Markets are still lacking a clear trend, but certain stocks are showing strong setups. The key right now is not to chase — trade selectively and stick to your stop loss levels.
