Trade set-up, April 29: Trading strategy for Nifty today, factors to watch

Stock Market Today, Sensex Today, April 29, 2025: From Pahalgam latest updates and Q4 results to US-China trade deal, here are top factors that will guide the stock markets today

Stock Market Today, Tuesday, April 29, 2025: Pakistan Army’s claim of India’s “imminent incursion”, flip-flop in US-China trade talks, and March 2025 (Q4FY25) results of India Inc will influence the stock markets today, April 29, 2025.

 

Additionally, foreign fund flows, oil prices, Rupee-Dollar movement, and IPO market activity will sway the mood.

 

At 7:05 AM, GIFT Nifty Futures were quoting 24 points higher at 24,477 level.  Follow Stock Market Latest Update Today LIVE Here

 

Stock Market Wrap, Monday, April 28, 2025:

A robust rally in Reliance Industries (RIL) shares post the company’s Q4FY25 results powered an over 1,000-point rally in the BSE Sensex on Monday.

 

 

The BSE Sensex index hit a fresh calendar year high of 80,322 in the intraday trade yesterday before ending 1,006 points, or 1.27 per cent, higher at 80,218.

 

The NSE Nifty 50 index, meanwhile, edged 289 points, or 1.2 per cent, higher to close at 24,329.

 

RIL stock jumped over 5 per cent on Monday on better-than-expected Q4 results. It added ₹1 trillion in market capitalization.

 

FII, DII flows:

On Monday, FIIs/FPIs bought Indian shares worth ₹2,474.10 crore, while DIIs purchased Indian shares worth ₹2,817.64 crore.  

 

Stock Market Today Prediction: Trade set-up, factors that will affect Sensex, Nifty today, April 29:

 

Pakistan warns of India 'incursion':

Defence Minister of Pakistan, Khawaja Muhammad Asif, said on Monday that a “military incursion by India appeared imminent”. This, he said, was in response to the Pahalgam terror attack of April 22, 2025, which left 26 dead. He added that Islamabad has reinforced its forces across the border.

 

Q4 Results Today, April 29:

Ambuja Cements, Bajaj Finserv, Bajaj Finance, Bharat Petroleum Corporation (BPCL), Ceat, Fedbank Financial Services, Praj Industries, Star Health Insurance, Trent, UTI AMC, and Welspun Specialty Solutions are among the 42 companies that are scheduled to report their March quarter results today.

 

Ather Energy IPO:

The ₹2,981-crore Ather Energy IPO was subscribed 16 per cent at the end of Day 1 of the offer, led by the company’s employees. Ather Energy IPO will enter the second day of subscription today.

 

In the SME segment, Iware Supplychain Services IPO will also enter its second day of subscription. The issue has been booked around 40 per cent so far.

 

That apart, Kenrik Industries IPO (SME), and Arunaya Organics IPO (SME) will open for subscription today.

 

"Confusion" in US-China trade deal:

Denying US President Donald Trump and his aides’ comments that trade talks were underway, Chinese Foreign Ministry spokesman Guo Jiakun said on Monday that "China and the US are not engaged in any consultation or negotiation on tariffs".

 

"As far as I know, there have not been any calls between the two presidents recently," he said.

 

Meanwhile, US Treasury Secretary Scott Bessent, on Monday, put the responsibility for reaching a trade agreement on China.

 

Trump on auto tariffs:

Meanwhile, the Trump administration could "reduce the impact of automotive tariffs" on Tuesday by alleviating some duties placed on foreign parts in domestically manufactured cars and keeping tariffs on cars made abroad from stacking on top of other ones, according to a Reuters report.

 

Global markets today:

Markets in the Asia-Pacific region were lacklustre on Tuesday. Australia’s ASX 200 was up 0.6 per cent, and South Korea’s Kospi index was flat. Markets in Japan were closed for a public holiday.

 

Overnight, the S&P 500 ended higher by 0.06 per cent, the Nasdaq Composite ticked 0.1 per cent lower, and the Dow Jones Industrial Average rose 0.28 per cent.

 

Investors will watch out for Housing Price index data for February, and JOLTs Jobs opening/quits data for March, and March quarter earnings on Wall Street today.

 

Sensex, Nifty outlook: Levels to watch on Nifty today

 

As per Shrikant Chouhan, Head Equity Research, Kotak Securities, the stock markets on Monday formed long bullish candles on the daily charts, which support further uptrend from current levels.

 

"On the downside, 24,100-24,200 on the Nifty, and 79,500-79,800 on the Sensex would act as key support zones, while 24,400-24,500 and 80,500-80,700 could serve as crucial resistance areas for the bulls on Nifty and Sensex today. However, if the market falls below 24,100/79,500, the uptrend would become vulnerable," he added.

 

As a trading strategy today, Chouhan said amid the short-term bullish market texture, buying on intraday dips and selling on rallies would be the ideal strategy for day traders.

 

Nandish Shah, Senior Derivative & Technical Research Analyst, HDFC Securities, meanwhile, suggests that next resistance for the Nifty index is seen at 24,545, which happens to be 61.8 per cent retracement of the entire fall seen from 26,277 to 21,743. On the downside, 24,150 could offer immediate support for Nifty. Below this, Nifty may fall towards 23,800 and 23,350.

 

Stocks to Watch today, April 29:

 

Gensol Engineering share price: Reports suggest that the Enforcement Directorate (ED) conducted search and seizure operations at the company’s Ahmedabad and Gurugram offices. The ED, as per reports, has seized documents, electronic devices, and financial records of the company under the Foreign Exchange Management Act, 1999 (FEMA).

 

IndusInd Bank share price: Deputy CEO of IndusInd Bank, Arun Khurana, has resigned from his position effective immediately.

 

Q4 result reaction: Oberoi Realty, Central Bank of India, Go Digit, Adani Total Gas, AWL Agri Business, Ultratech Cement, IDBI Bank, Uco Bank, Castrol India, Nippon Life AMC, RPG Life Sciences, Fino Payments Bank, KFin Technologies, Firstsource Solutions, PNB Housing Finance, and Greenply Industries.