Stock market today: Trade setup for Nifty 50, gold, silver rates to USD vs INR eight stocks to buy or sell on Friday

By Admin

30 Jan, 2026

Market Snapshot: Indian Indices Show Strong Resilience

Following mixed global cues, the Indian stock market witnessed sharp volatility during Thursday’s early session. Initial selling pressure dragged indices lower, but strong buying interest at lower levels helped the benchmarks recover smartly by the close.

The Nifty 50 gained 76 points to end at 25,418, while the BSE Sensex advanced 221 points to settle at 82,566. The Bank Nifty outperformed, rising 359 points to close at 59,957, reflecting renewed strength in banking stocks despite ongoing pre-Budget caution.

Gold and Silver Rates Today: Strong Buying at Lower Levels

After a sharp correction near Thursday’s close, precious metals witnessed strong buying interest in early Friday trade.

COMEX gold opened with an upside gap and touched an intraday high of $5,480.05 per ounce. Around 6:40 AM, gold was trading near $5,400 per ounce.
COMEX silver also opened higher, hitting an intraday high of $118.340 per ounce, and was trading near $115.270 per ounce at the same time.

According to Rahul Kalantri, VP Commodities at Mehta Equities, gold has support at $5,340 and $5,220, while resistance is placed at $5,525 and $5,600. Silver support lies at $112.10 and $108.75, with resistance at $118.15 and $122.00.

On MCX, gold support levels are seen at ₹1,63,050 and ₹1,60,310, with resistance at ₹1,70,850 and ₹1,73,950. Silver has support at ₹3,80,810 and ₹3,74,170, while resistance stands at ₹3,91,810 and ₹3,98,470.

USD vs INR Outlook: Budget Caution Keeps Rupee Under Pressure

The Indian Rupee traded flat to weak near 91.94 against the US Dollar, down 0.12, as market participants remained cautious ahead of the Union Budget scheduled for 1st February 2026.

Jateen Trivedi, VP Research – Commodity & Currency at LKP Securities, noted that rising bullion prices have increased India’s import bill, while continued FII selling in equities has added pressure on the Rupee. Technically, immediate support for USD/INR is seen near 91.55, while resistance is placed at 92.25. A breakout on either side could trigger fresh directional momentum.

Nifty 50 Technical Outlook: Buy on Dips Strategy Favoured

Osho Krishan, Chief Manager – Technical and Derivative Research at Angel One, highlighted that an Inverted Head and Shoulders pattern is emerging on the hourly chart, signalling a potential bullish reversal.

The 25,300–25,250 zone is expected to provide short-term support, while the critical support lies at 25,200–25,150, aligning with the 200 DSMA. On the upside, 25,500–25,580 remains an intermediate hurdle. A sustained breakout above this zone could open the door for further upside. Given the setup, a buy-on-dips approach is advised.

Bank Nifty Outlook: Bullish Bias with Elevated Volatility

Vatsal Bhuva, Technical Analyst at LKP Securities, stated that Bank Nifty has decisively closed above its 20-day SMA, forming a strong bullish candlestick. The RSI has registered a bullish crossover, indicating improving buying momentum.

While volatility may persist ahead of the Union Budget, the broader undertone remains positive. For the near term, Bank Nifty is expected to trade with support at 59,000 and resistance at 60,400.

Day Trading Strategy: Focus on Thematic Movers

Osho Krishan further noted that markets are likely to remain volatile ahead of Budget Day. This environment creates opportunities in thematic stocks, provided traders follow disciplined risk management and remain proactive rather than complacent.

Stocks to Buy or Sell Today: Expert Recommendations

Market experts Sumeet Bagadia, Ganesh Dongre, and Shiju Koothupalakkal have recommended eight stocks for intraday trading today:

MCX
Buy at ₹2686 | Target ₹2880 | Stop Loss ₹2590
MCX is trading above its 20-day, 50-day, and 200-day EMAs and has recently hit a fresh all-time high of ₹2705. The stock shows strong bullish momentum with scope for further upside.

Karur Vysya Bank
Buy at ₹302 | Target ₹322 | Stop Loss ₹292
The stock has broken out of consolidation and recently touched an all-time high of ₹304.65, supported by strong volumes, signalling the start of a potential long-term uptrend.

Union Bank of India
Buy at ₹180 | Target ₹192 | Stop Loss ₹173
Union Bank shares continue to show consistent bullish momentum, with ₹173 acting as a strong support zone and recent price action reinforcing positive sentiment.

BSE
Buy at ₹2867 | Target ₹3050 | Stop Loss ₹2770
BSE has maintained a strong bullish structure and is showing signs of renewed strength from support, making it attractive for short-term traders.

Bharti Airtel
Buy at ₹1969 | Target ₹2070 | Stop Loss ₹1930
Bharti Airtel continues to trade in a strong uptrend, with solid support at ₹1930 and potential for further upside towards ₹2070.

Hero Motocorp
Buy at ₹5580 | Target ₹5820 | Stop Loss ₹5480
After a healthy correction, the stock has rebounded from the ₹5300 zone. RSI indicates a positive reversal, supporting further upside.

Samvardhana Motherson
Buy at ₹113.85 | Target ₹122 | Stop Loss ₹110
The stock is trading within a rising channel and has bounced from the channel base, improving the outlook for near-term gains.

Torrent Power
Buy at ₹1371 | Target ₹1440 | Stop Loss ₹1342
Torrent Power has moved above key moving averages and is showing improving price strength, indicating potential continuation of the upward trend.

Conclusion

Despite global uncertainties and pre-Budget volatility, Indian markets continue to show resilience. Technical indicators across Nifty, Bank Nifty, and select stocks point toward a cautiously optimistic outlook. Traders are advised to remain disciplined, follow defined levels, and focus on quality setups during this volatile phase.