Nifty 50 Trade Setup and Top 5 Stocks to Buy or Sell for October 15

Stock Market Today: On Monday, the Nifty 50 index rose by 0.66% to close at 25,127.95, supported by falling crude oil prices, despite ongoing concerns about the Iran-Israel conflict and foreign investor outflows. The BSE Sensex also gained 0.73%, closing at 81,973.05.

Bank Nifty showed a strong performance, rising over 1% to 51,816.90, while realty and IT stocks saw decent gains. However, metals and energy stocks remained weak. Broader markets also saw positive movement.

Tuesday Trade Setup

As long as the Nifty stays above 25,000 and the Sensex remains above 81,500, there is potential for further gains. The Nifty could reach 25,200-25,260, while the Sensex could move to 82,300-82,500, according to Shrikant Chouhan from Kotak Securities. If these levels are breached, market sentiment may change.

For Bank Nifty, it could test 52,500-52,800 in the short term, with strong support at 51,000. A “buy on dips” strategy is recommended for Bank Nifty, as long as it stays above 51,000, according to Hrishikesh Yedve of Asit C. Mehta Investment Intermediates.

Global Market Outlook

Asian markets moved up on Monday, with Chinese stocks rising over 2% due to hopes of more government stimulus. European markets were mixed.

According to Vinod Nair from Geojit Financial Services, global markets are sending mixed signals, with China’s weak economic data hinting at a global slowdown. Additionally, the impact of China’s stimulus measures seems to be fading.

The Indian market remains resilient, with weak Q2 earnings likely already factored in and falling oil prices providing relief. The IT and financial sectors are seeing buying interest after recent corrections. Tuesday’s trades will likely react to major earnings announcements from companies like Reliance and HCL Technologies.

Top 5 Stocks to Buy Today

Sumeet Bagadia, Executive Director at Choice Broking, and Ganesh Dongre, Senior Manager of Technical Research at Anand Rathi, have recommended these stock picks for October 15:

1. Torrent Power Ltd
   • Buy at ₹1,940.25
   • Stoploss: ₹1,872
   • Target: ₹2,076
   • The stock has bounced from a key support zone and is showing signs of a breakout with strong buying interest. It is expected to reach ₹2,076 in the short term.
     
2. NMDC Ltd
   • Buy at ₹237.05
   • Stoploss: ₹229
   • Target: ₹254
   • NMDC has rebounded from a support level, forming a bullish reversal pattern with rising volumes. If it holds above ₹240, it could continue upward toward ₹254.
     
3. REC Ltd
   • Buy at ₹540
   • Stoploss: ₹528
   • Target: ₹555
   • REC has reversed from a key support level and shows potential for further gains, with a target of ₹555.
     
4. Ambuja Cements Ltd
   • Buy at ₹589
   • Stoploss: ₹575
   • Target: ₹615
   • Ambuja Cements is showing a bullish reversal pattern and could rise to ₹615 in the short term.
     
5. Titan Company Ltd
   • Buy at ₹3,500
   • Stoploss: ₹3,400
   • Target: ₹3,650
   • Titan has broken out of the ₹3,500 level with increasing buying momentum. The stock could reach ₹3,650 in the coming weeks.