The Indian stock market is reaching new heights thanks to strong support from retail investors, a positive economic outlook, and hopes of US interest rate cuts. The Nifty 50 is near 25,000, and the Sensex is close to 82,000.
On July 29, the Sensex hit a new high of 81,908.43, and the Nifty 50 peaked at 24,999.75. However, on July 30, both indices closed flat due to profit booking.
Investors are awaiting the US Federal Reserve’s meeting outcome today. The market expects no change in policy rates, but investors are looking for clues about future rate cuts.
Prashanth Tapse from Mehta Equities mentioned that traders are ready for the Federal Open Market Committee (FOMC) meeting, expecting the Fed to keep interest rates unchanged but looking for hints about possible rate cuts in September.
Sumeet Bagadia’s Stock Picks for Today
Sumeet Bagadia from Choice Broking recommends buying the following stocks for intraday trading:
- PCBL
- Buy at ₹331.9
- Target price: ₹350
- Stop loss: ₹320
- Paradeep Phosphates
- Buy at ₹94.49
- Target price: ₹99
- Stop loss: ₹91
- Tracxn Technologies
- Buy at ₹102.48
- Target price: ₹108
- Stop loss: ₹99
- Sportking India
- Buy at ₹1,414.85
- Target price: ₹1,480
- Stop loss: ₹1,360
- Skipper Limited
- Buy at ₹402.75
- Target price: ₹425
- Stop loss: ₹388
Disclaimer: The views and investment tips expressed by investment experts on Sharepriceindia.com are their own and not those of the website or its management. Sharepriceindia.com advises users to check with certified experts before taking any investment decisions.
