Trade setup for Nifty 50, RBI repo rate decision, Trump tariff pressure; 7 stocks to buy or sell
The domestic equity market continues to remain under pressure, with both the Sensex and Nifty 50 ending lower on Tuesday. This marked the eighth consecutive session of declines, as foreign fund exits and caution ahead of the Reserve Bank of India’s (RBI) interest rate decision kept investors on edge. Adding to the uncertainty, global cues including tariff concerns linked to Donald Trump’s trade policies weighed on sentiment.
Market Recap: Sensex and Nifty Struggle
After showing early signs of recovery, the Sensex slipped by 97.32 points (0.12%) to close at 80,267.62, while the Nifty 50 lost 23.80 points (0.10%) to settle at 24,611.10. Intraday, the Sensex swung between 80,201.15 and 80,677.82. Over the past eight sessions, the Sensex has shed 2,746.34 points or 3.30%.
Sector performance was mixed metal, auto, and banking (especially PSU banks) gained ground, while real estate and consumer durables dragged the indices lower. Trading volumes remained muted on the day of monthly expiry, with investors refraining from aggressive bets ahead of the RBI’s crucial monetary policy outcome.
Technical Trade Setup for Nifty 50
Vatsal Bhuva, Technical Analyst at LKP Securities, observed that the Nifty faced significant resistance at its 100-day EMA around 24,750. The index has been forming a pattern of lower highs and lower lows over the last three sessions, highlighting bearish control.
Immediate support: 24,500
Resistance: 24,800
Unless the Nifty regains levels above its 50-day EMA, the short-term outlook remains weak. Market sentiment is expected to shift following the RBI’s policy outcome and upcoming auto sales data, but for now, a cautious approach is recommended.
RBI Policy and Global Pressure
Vinod Nair, Head of Research at Geojit Investments, said investors are bracing for the RBI’s repo rate decision. While the central bank is widely expected to hold rates steady, any commentary on future inflation and liquidity measures will influence market direction.
On the global front, tariff pressures linked to former U.S. President Donald Trump’s trade stance and the broader uncertainty in international markets are adding volatility. With the earnings season approaching, traders are likely to remain range-bound in the near term.
Stocks to Buy Today: Analysts’ Recommendations
Despite market volatility, analysts have picked specific stocks showing favorable technical setups. Here are seven stocks recommended for intraday trading today:
Picks by Sumeet Bagadia, Choice Broking
Buy at ₹3,648.5
Target: ₹3,905
Stop-loss: ₹3,520
Rationale: Strong long-term uptrend, higher highs and lows, new all-time high at ₹3,750 supported by rising volumes.
Buy at ₹482.45
Target: ₹518
Stop-loss: ₹465
Rationale: Rounding bottom formation, strong breakout with volume, signaling start of long-term uptrend.
Picks by Ganesh Dongre, Anand Rathi
Hindustan Zinc Ltd
Buy at ₹482
Target: ₹510
Stop-loss: ₹465
Rationale: Strong bullish momentum, reversal from support zone, favorable risk-reward.
Buy at ₹142
Target: ₹150
Stop-loss: ₹136
Rationale: Bullish pattern, strong support at ₹136, potential retracement to ₹150.
Buy at ₹123
Target: ₹128
Stop-loss: ₹115
Rationale: Consistent bullish pattern, support at ₹115, signs of renewed strength.
Picks by Shiju Koothupalakkal, Prabhudas Lilladher
Buy at ₹450
Target: ₹480
Stop-loss: ₹440
Rationale: Support at ₹440, positive daily candle with volume, RSI recovery indicating reversal.
Buy at ₹138.50
Target: ₹148
Stop-loss: ₹136
Rationale: Higher bottom formation, pullback from 134 support, positive RSI trend.
Buy at ₹370
Target: ₹390
Stop-loss: ₹360
Rationale: Breakout from consolidation, bullish candle with volume, RSI strength visible.
Conclusion
Indian markets are caught between domestic caution and global uncertainty. While the RBI’s interest rate decision will be pivotal in shaping short-term sentiment, external factors like Trump’s tariff stance and foreign fund flows will also be key drivers. Traders should stay cautious, maintain strict stop-loss levels, and focus on technically strong stocks like Netweb Technologies, Hindustan Zinc, Ashok Leyland, Canara Bank, Delhivery, Union Bank of India, and Moil.
Disclaimer: The views and recommendations mentioned above are those of individual analysts or broking firms, not of this platform. Investors are advised to consult certified financial experts before making any investment decisions.
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