Indian markets faced a sharp fall on Monday, with the Nifty 50 dropping 1.27% to close at 23,995.35, while the Sensex fell 1.18% to 78,782.24. Bank Nifty also dropped to 51,215.25, dragged down by corrections in Metals, Realty, and Oil & Gas stocks.
Trade Setup for Tuesday
The market is weak but oversold, meaning a possible short-term rebound could happen. Shrikant Chouhan from Kotak Securities suggests watching the 23,800 level on Nifty and 78,500 on the Sensex as key supports. Above these levels, there could be a bounce to 24,050. For Bank Nifty, Jatin Gedia of Sharekhan expects trading within 50,500 – 52,500, with key support at 50,720-50,600 and resistance at 51,750-51,800.
Global Market Impact & Q2 Results Outlook
Indian markets are currently underperforming compared to global peers, mainly due to high valuations and weak Q2 earnings. According to Vinod Nair of Geojit Financial Services, upcoming events like the U.S. election and Fed/BoE policy decisions could keep volatility high.
5 Stock Picks for Today
1. V-Guard Industries Ltd
- Buy at: ₹450.5
- Target: ₹482
- Stoploss: ₹435
V-Guard is showing strong buying interest and recently broke out of a downward trend. Holding above ₹460 could see it reaching the target price.
2. Max Healthcare Institute Ltd
- Buy at: ₹1036.6
- Target: ₹1121
- Stoploss: ₹994
Max Healthcare is showing positive movement off a rising trendline. A strong break above ₹1050 could lead to a rally towards ₹1121.
3. Tata Consultancy Services Ltd (TCS)
- Buy at: ₹3968
- Target: ₹4050
- Stoploss: ₹3925
TCS has shown upward momentum after finding support at ₹3925. Holding it could see it climb to ₹4050.
4. Power Finance Corporation Ltd (PFC)
- Buy at: ₹452
- Target: ₹468
- Stoploss: ₹442
PFC has shown a bullish reversal. It’s holding above ₹442 support, indicating a possible rise to ₹468.
5. Samvardhana Motherson International Ltd
- Buy at: ₹185
- Target: ₹193
- Stoploss: ₹180
This stock recently broke out at ₹185, with RSI showing increased buying momentum. If it stays above ₹180, it may reach ₹193 soon.
With the market’s current volatility, these picks provide potential gains for cautious investors watching support levels closely.
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.
