The global markets have started the day on a cautious note, following a sharp overnight sell-off in the US. The S&P 500, Nasdaq, and Dow extended their losing streak as investors booked profits in high-valuation technology and AI stocks. This has led to a risk-off tone in the markets, with investors staying defensive ahead of the release of US consumer price inflation data.
The Asian markets have opened on a weak note, mirroring the subdued tone on Wall Street. This pressure is likely to spill over into Indian equities at the open. However, the selling seen so far does not reflect panic; instead, it appears to be a valuation-led reset following a strong rally.
Ponmudi R, CEO of Enrich Money, says that the Nifty 50 continues to trade within a rising channel structure. The 25,800–25,700 zone remains a critical near-term support and a decision-making area. As long as this base holds, the broader uptrend stays intact despite near-term volatility and global weakness.
For the Bank Nifty index, Ponmudi R says that it is consolidating after a strong up-move, with 58,800 emerging as an important support floor. Holding above this level maintains a constructive structure and signals a healthy digestion of gains. A sustained move above 59,000–59,100 would indicate renewed strength and continuation of the uptrend.
Jateen Trivedi, VP Research Analyst - Commodity and Currency, says that the rupee rebounded sharply from near 91.00 to around 90.35, likely aided by intervention, snapping a multi-day losing streak. However, the sustainability of this recovery remains uncertain, as clarity on the India–US trade deal is still awaited, and FII selling continues.
Stock market experts have recommended the following eight intraday stocks for today:
Remember, this is a perspective, not a prediction. Do your own research and consult with certified experts before making any investment decisions.
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