 "share market, trading")
Market View
Markets rebounded after Tuesday’s decline, gaining over half a percent. Following a flat opening, Nifty edged higher and remained range-bound throughout the session, eventually closing at 23,332.35. Most key sectors contributed to the recovery, with realty, FMCG, and banking leading the gains. Meanwhile, broader indices continued their outperformance, rising nearly one and a half percent each.
Markets will react to the announcement of reciprocal tariffs and the initial response from global markets, which could influence sentiment. Additionally, the scheduled weekly expiry may add to the volatility. We recommend a cautious stance and favor a hedged approach until there is greater clarity on the index’s next directional move. However, stocks continue to offer trading opportunities on both sides, and participants should position themselves accordingly.
Stocks recommendations
Bharat Petroleum Corporation Limited |LTP: 286.80| Buy | Target: 305 | Stop-loss: 275
BPCL has been on a steady upward trajectory after breaking out from a trend reversal pattern, forming a base-on-base structure. Recently, it achieved a fresh breakout while reclaiming its long-term 200 DEMA. The price action, backed by strong volumes, indicates a continuation of the bullish momentum.
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Steel Authority of India Limited |LTP: 118.70 | Buy | Target: 127| Stop-loss: 113
The metal sector is showing notable strength, with select stocks catching up. SAIL has established a strong base, holding firmly above the key support of its 200 WEMA. A breakout from this range, accompanied by rising volumes, suggests a sustained upward move. Additionally, the stock has breached a falling channel pattern, signaling a potential trend reversal.
Indus Towers Limited | LTP: 361.30| Buy | Target: 382 | Stop-loss: 349
Indus Tower has established a firm base after consolidating within the 315-370 range for nearly six months. It has recently reclaimed its key moving averages and is now approaching the upper boundary of the range. The price action, supported by rising volumes, signals a potential breakout. We recommend initiating fresh long positions at the specified levels.
(Disclaimer: Ajit Mishra is SVP of research at Religare Broking. Views expressed are his own.)
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 "Market, Stock market, NSE, National Stock Exchange")
 "The fast-moving consumer goods (FMCG) sector is losing its status as a defensive sector. Historically, FMCG stocks have outperformed in a falling market, providing downside protection to portfolios. However, during the current market selloff, the FMC")
 "Market, BSE, NSE, NIfty, Stock Market, investment")
 "Asian market, Asian stocks")
