Trade setup for Nifty 50, Q2 results, Groww IPO to gold prices - 8 stocks to buy

By Admin

04 Nov, 2025

The Indian stock market witnessed a mixed trend on Tuesday as investors remained cautious amid upcoming corporate earnings, policy decisions, and global economic developments. While the Nifty 50 index closed flat around 25,763, the Bank Nifty gained 0.56%, supported by strength in PSU banks. This combination reflects a market mood of cautious optimism as traders assess new opportunities amid consolidation.

Market Overview

According to Abhinav Tiwari, Research Analyst at Bonanza, the outlook remains cautiously optimistic, with investors eyeing triggers from Q2 corporate earnings, policy updates, and global indicators. Foreign inflows and trade agreements may lend support, but domestic elections and geopolitical developments remain key watchpoints. Overall, the market seems set for a gradual recovery, with investors focusing on select stock-specific opportunities rather than broad-based moves.

Trade Setup for Tuesday

Amruta Shinde, Technical and Derivative Analyst at Choice Equity Broking Pvt. Ltd., noted that the Nifty 50 opened slightly unchanged but showed buying interest throughout the session. The index faces immediate resistance at 25,850, followed by 25,900 and 26,000, while support levels are seen around 25,600–25,650    potential accumulation zones for positional traders.

Global Market Impact

Vinod Nair, Head of Research at Geojit Investments Ltd, observed that profit booking was visible at higher levels, given the lack of new domestic catalysts. However, the broader market outperformed as quarterly earnings boosted sentiment. The PSU banking index continued to attract investors due to improving asset quality, while IT stocks declined amid reduced expectations for a US Fed rate cut. Furthermore, easing US-China trade tensions lowered the demand for safe-haven assets like gold.

8 Stocks to Buy Today

Market experts have identified eight promising intraday stocks based on technical analysis and short-term price trends:

1. Allied Blenders and Distillers Ltd – Buy at ₹683 | Target ₹740 | Stop-loss ₹660
   The stock maintains a strong upward trajectory with higher highs and robust volume activity. Positioned above all key EMAs, it reflects sustained strength and buyer interest, indicating potential for further gains.
   
   

2. Bajaj Consumer Care Ltd – Buy at ₹286 | Target ₹310 | Stop-loss ₹275
   Trading near its 52-week high, Bajaj Consumer Care shows steady bullish momentum. A breakout above ₹290 could drive accelerated buying, with all major EMAs trending upward, supporting a positive outlook.
   
   

3. Infosys Ltd – Buy at ₹1,486 | Target ₹1,530 | Stop-loss ₹1,465
   Infosys exhibits consistent bullish behavior with strong support near ₹1,465. The setup indicates potential for an upward move toward ₹1,530, making it attractive for short-term traders.
   
   

4. Bajaj Finance Ltd – Buy at ₹1,045 | Target ₹1,090 | Stop-loss ₹1,020
   Bajaj Finance maintains a bullish pattern, supported by strong demand near ₹1,020. With renewed strength, the stock shows potential to reach ₹1,090 in the near term.
   
   

5. NTPC Ltd – Buy at ₹335 | Target ₹345 | Stop-loss ₹330
   NTPC continues its bullish pattern, backed by consistent support at ₹330. A move past this level could drive prices toward ₹345, reflecting steady investor confidence.
   
   

6. Banco Products (India) Ltd – Buy at ₹733.25 | Target ₹770 | Stop-loss ₹715
   After a correction from ₹880, the stock stabilized near ₹720 and crossed the 50EMA, signaling a possible trend reversal. The RSI also supports a potential bullish continuation.
   
   

7. PI Industries Ltd – Buy at ₹3,685 | Target ₹3,820 | Stop-loss ₹3,610
   PI Industries has been consolidating above its key support at ₹3,480 and recently moved past the 50EMA, suggesting renewed bullish momentum. The RSI trend indicates further upside.
   
   

8. Anant Raj Ltd – Buy at ₹650 | Target ₹690 | Stop-loss ₹635
   Anant Raj has rebounded from a correction phase near the 50EMA at ₹615, supported by rising volume and improving bias. Technical indicators point toward a healthy upward trend.
   
   

Outlook

As the market continues to consolidate after strong gains, selective stock-picking remains key. With Q2 earnings and global cues shaping investor sentiment, traders are advised to monitor resistance and support levels closely and maintain strict risk management strategies.

Disclaimer: The views and recommendations mentioned above are those of individual analysts or broking firms. Investors are advised to consult certified financial experts before making investment decisions.