Stock Market Today: Top 5 Stocks to Buy or Sell on October 28 Based on Market and Expert Trends

On Friday, October 25, the Indian stock market saw a broad selloff, with the Sensex and Nifty 50 both declining nearly 1%, and mid- and small-cap stocks dropping by over 2%. The Sensex ended the day 663 points lower at 79,402.29, while the Nifty 50 lost 219 points to close at 24,180.80. Mid- and small-cap indices also saw sharp falls, losing 1.48% and 2.44%, respectively.

Market Outlook and Key Levels for Today

Hrishikesh Yedve, AVP of Technical and Derivatives Research at Asit C. Mehta Investment Intermediates Ltd., observed that the Nifty closed weakly, forming bearish candles on daily and weekly charts, signaling market softness. Key support lies in the 23,900–23,950 range, with resistance levels at 24,500 and 24,700. For Bank Nifty, the index broke below 51,000, but it has strong support near 50,380.

Vinod Nair, Head of Research at Geojit Financial Services, attributed recent declines to geopolitical concerns and foreign investor outflows. The Nifty and Sensex are both down approximately 8% from recent highs, pressured by sectors like FMCG, metal, and real estate due to lower demand and margin challenges. Nair suggests the market could see short-term consolidation, with any major uptrend contingent on reduced foreign selling and stable U.S. election outcomes.

Q2 Results Today

Several major companies, including Adani Power, Bharti Airtel, Sun Pharmaceuticals, Ambuja Cements, and Federal Bank, are set to announce Q2 results, offering further insights into sector performance and potential market trends.

Expert Stock Picks for October 28

Market experts Sumeet Bagadia (Choice Broking) and Ganesh Dongre (Anand Rathi) recommend five stocks with bullish setups. Here’s the breakdown:

1. Yatharth Hospital
   • Buy at: ₹649.65
   • Target: ₹690
   • Stop Loss: ₹625
   • Analysis: Strong breakout above key resistance, supported by volume and trading above crucial moving averages, indicating continued upward momentum.
2. Thermax Limited
   • Buy at: ₹5,431.15
   • Target: ₹5,750
   • Stop Loss: ₹5,222
   • Analysis: Breakout with rising volume and positive RSI, trading above 20-, 50-, and 100-day EMAs, suggesting a sustained bullish outlook.
3. Torrent Pharmaceuticals
   • Buy at: ₹3,433
   • Target: ₹3,600
   • Stop Loss: ₹3,375
   • Analysis: Bullish reversal pattern with strong support at ₹3,375, offering a potential buying opportunity for short-term gains.
4. ICICI Bank
   • Buy at: ₹1,260
   • Target: ₹1,310
   • Stop Loss: ₹1,230
   • Analysis: Bullish reversal and strong support at ₹1,230 suggest a chance to ride momentum toward ₹1,310.
5. Bharat Electronics (BEL)
   • Buy at: ₹275
   • Target: ₹290
   • Stop Loss: ₹265
   • Analysis: Reversal pattern with significant support at ₹265, indicating potential for short-term upward movement to ₹290.

Summary

With volatile market conditions and key technical levels in play, these stocks offer attractive trading setups. However, given the overall market weakness, experts recommend cautious trading, with an emphasis on profit booking near resistance levels.