India’s stock market opened the week on a positive note and carried that optimism into the second trading session as well. While Monday sessions saw some good upward momentum, experts said investors remained cautious, avoiding aggressive bets amid ongoing global and domestic uncertainties.
On Tuesday, the markets extended early gains. The Sensex was trading higher by around 250 points at the opening, while the Nifty was up by nearly 76 points. Bank Nifty, which showed strong momentum on Monday, appeared relatively subdued in early trade on Tuesday, at least until 10 am.
According to a Mint report, Vaishali Parekh, Vice President of Technical Research at Prabhudas Lilladher, said overall sentiment in the Indian equity market continues to remain positive. If the current trend sustains, she believes the Nifty could move towards the 26,350 level. However, she cautioned that the index may face resistance in the 25,800–25,850 zone. Parekh added that immediate support for the Nifty is placed around 25,700, while resistance is seen near the 26,100 mark.
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Recommendations for stocks for Tuesday
PI Industries
Buy: ₹3214. Target: ₹3500. Stop Loss: ₹3100
Samvardhana Motherson
Buy: ₹122. Target: ₹128. Stop Loss: ₹120
Cipla
Buy: ₹1348. Target: ₹1365. Stop Loss: ₹1335
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Chandan Taparia, Head of Derivatives and Technicals at Motilal Oswal Financial Services Limited, has given recommendations on three stocks for the day.
Shriram Finance
Target: ₹1135. Stop Loss: ₹1030
Sona BLW Precision Forgings
Target: ₹575. Stop Loss: ₹505
Titan Company
Target: ₹4475. Stop Loss: ₹4140
{News Ei Samay does not provide investment advice anywhere. Investment and trading in the share market or any field involve risk. Proper study and expert advice are recommended beforehand. This news is published for educational and awareness purposes.}
