Stock Market Today: Nifty 50 Trade Setup, US Fed Minutes, Trump Tariffs, and 8 Stocks to Watch
The Nifty 50 bingoed on Thursday, closing above 25,000 for the third consecutive day, pushing up global investor confidence further as the market broadens. All support indices (i.e. retail, construction, and dairy) were higher, and the market is once again at all-time highs. The market participants with a bottom-up approach to investing tend to do well in these markets, selective grayness shifted this week in branded consumer stocks, and financials especially big stocks, are under slight downward pressure which could close the gap in contagious sentiment. The market is muddling through tariffs, and the impact seems either take a while for the market to unpack or decoupled from the market completely. Overall the market hallmarked big buying in bank stocks, mostly banks. The market went through a bit of a reprimanding dip Thursday with December coming across the table.
Market summary: Nifty Up, Bank Nifty down
The Nifty 50 index closed at 25,050.55 Thursday up 0.28% on the day, helped by large-cap IT, FMCG, and realty stocks. The Bank Nifty skidded down – .30% to 55,698.50, considering profit-taking on some of the financials. The mid-caps were on point and credible, finishing up even 0.3% to 0.46%. Although IT, realty and FCMG drove the market, pharma ended its way down.
Technical Outlook: Key Levels to Watch
Market commentators highlight that the supports for the Nifty are at 25,000 and 24,930, which are important levels to maintain the current trend. Shrikant Chouhan, Head of Equity Research (Retail) at Kotak Securities, says that as long as the index remains above these zones, the bullish momentum will still continue. On the upside, Nifty is expected to test 25,150-25,200 in the short term.
For Bank Nifty, Bajaj Broking expects supports at 54,800 and 55,000. If the index holds these levels, it could see a recovery, but near-term sentiment is less strong than the benchmark Nifty.
US Fed Minutes: Inflation Risks Come to the Forefront
The release of the July US Federal Reserve meeting minutes was one of the bigger global cues for markets. The minutes showed that most Fed officials are still more concerned about inflation than as concern for employment. This suggests to the markets that discussions around price pressures are still dominating discussions.
The minutes also highlighted a split among members on the implications of President Donald Trump’s new tariffs, with some policymakers concerned about potential impacts on growth and employment, while others focused on the need to ensure inflation was not rising. These differing perspectives demonstrate that future interest rate decisions are still clouded by uncertainty on timing.
Global Market Outlook: Policy Support and PMI Data
Indian equities, while facing global headwinds, are benefitting from a favourable domestic setup. Siddhartha Khemka, Head of Research – Wealth Management at Motilal Oswal Financial Services, observes the near-term outlook for the market remains positive amidst supported government policies and rising consumption trends.
However, global cues will be important in shaping sentiment for investors. Market participants are keeping an eye on the upcoming India and US Manufacturing and Services PMIs on Thursday, which may produce fresh signals as to the current momentum in the economy.
8 Intraday Stock Picks for Thursday
Analysts from Choice Broking, Anand Rathi, and Prabhudas Lilladher have recommended eight stocks for intraday traders today. Here’s a closer look at the trading strategies:
Sumeet Bagadia – Choice Broking
- Gokul Agro Resources Ltd
Buy at ~₹335 | SL: ₹325 | Target: ₹360
Rationale: Breakout above ₹320–330 resistance, supported by strong volumes. Stock is trading above key EMAs with bullish momentum intact. - Vimta Labs Ltd
Buy at ~₹709 | SL: ₹680 | Target: ₹760
Rationale: Well-positioned above key EMAs with strong volume confirmation. Trend indicates continued strength and bullish crossover.
Ganesh Dongre – Anand Rathi
- Tata Consultancy Services (TCS)
Buy at ₹3,093 | SL: ₹3,050 | Target: ₹3,160
Rationale: Strong bullish pattern, reversal from support at ₹3,050. Favorable risk-reward for short-term upside. - Cyient Ltd
Buy at ~₹1,232 | SL: ₹1,200 | Target: ₹1,260
Rationale: Reversal from support; consistent higher trend with potential retracement toward ₹1,260. - Tata Steel Ltd
Buy at ₹162 | SL: ₹154 | Target: ₹170
Rationale: Stock holding firm above ₹154 support. Technical setup favors another leg higher toward ₹170.
Shiju Koothupalakkal – Prabhudas Lilladher
- Mangalore Chemicals & Fertilizers Ltd
Buy at ~₹359.8 | SL: ₹352 | Target: ₹380
Rationale: Fresh breakout after consolidation; RSI points to renewed bullishness. - Tourism Finance Corporation of India Ltd
Buy at ~₹312 | SL: ₹305 | Target: ₹330
Rationale: Breakout above consolidation zone of ₹298; healthy volumes indicate further upside. - India Pesticides Ltd
Buy at ~₹217 | SL: ₹212 | Target: ₹230
Rationale: Stock bouncing from 50-EMA support with ascending channel structure. RSI indicates strong upside potential.
