Indian shares ended the day a little lower as traders stayed cautious while watching the fallout from US‑Iran tensions and trade‑policy uncertainty.
Market Overview
Overall, the market moved in line with global cues. Investors were selective rather than aggressive, keeping the index range‑bound.
Global Market Snapshot
In Asia, Japanese and Chinese indices slipped modestly, while South Korean stocks showed relative strength. The focus remains on any possible impact on oil supplies from the Middle‑East situation.
Precious Metals Update
Silver fell 1.85% on the COMEX, trading at $90.62 per ounce. In India, MCX silver rose 1.59% to ₹2,92,601 per kg.
Gold slipped 0.38% on the COMEX, priced at $4,606 per ounce. In India, MCX gold closed at ₹1,43,120 per 10 grams.
US‑Iran Tensions
The UN Security Council called an emergency meeting to discuss Iran’s protests after a request from the United States. President Donald Trump told the BBC that the killings in Iran were stopping and there were no plans for executions.
Indian Market Outlook
Analyst Ponmudi R from Enrich Money said the market is likely to stay cautious because of ongoing global headwinds. He highlighted the following key points:
- Nifty 50 opened flat, fell to test the 25,600 support zone, and briefly recovered toward 25,700 before losing momentum.
- Resistance sits around 25,800; a break below 25,600 could push the index toward 25,450.
- Momentum indicators show a bearish bias (RSI near 40, MACD negative).
- Bank Nifty opened lower, tried to bounce but was rejected near 59,750‑59,800, indicating strong overhead resistance.
- Support for Bank Nifty is around 59,350‑59,400; a clear break below could take it to the 59,000 level.
Intraday Stock Picks
Three analysts highlighted eight stocks that could offer short‑term upside today. Below are the entry, target, and stop‑loss levels.
- NTPC: Buy @ ₹349.10, Target ₹380, Stop‑Loss ₹310.
- PNB: Buy @ ₹128.68, Target ₹142, Stop‑Loss ₹122.
- Mankind Pharma: Buy @ ₹2,240, Target ₹2,320, Stop‑Loss ₹2,180.
- LT: Buy @ ₹3,868, Target ₹4,050, Stop‑Loss ₹3,800.
- SAIL: Buy @ ₹152, Target ₹162, Stop‑Loss ₹145.
- HBL Engineering: Buy @ ₹878, Target ₹930, Stop‑Loss ₹860.
- BEML: Buy @ ₹1,812, Target ₹1,910, Stop‑Loss ₹1,775.
- Indian Bank: Buy @ ₹846, Target ₹900, Stop‑Loss ₹828.
Disclaimer
Remember, this is perspective, not a prediction. Do your own research and consider consulting a certified financial advisor before making any investment decisions.