News from the Indian stock market: The Sensex rose 398 points to 82,172, and the Nifty 50 rose 135 points to 25,181, marking a successful conclusion to Thursday’s session. Strong buying activity in the IT, pharmaceutical, and metal industries supported the market’s upward trajectory, with metal stocks leading the way as a result of rising global commodity prices.
The easing of geopolitical tensions after initial rumors of a ceasefire between Israel and Hamas, along with encouraging signals from international markets where the US technology sector saw notable gains, further bolstered investor confidence.
Friday’s Trade Setup
Notwithstanding the negative of the previous day, the Nifty 50 increased, according to Rupak De, Senior Technical Analyst at LKP Securities. Despite this, the index remained below the 25,250 barrier mark. Given that the index is still above the major moving averages on the daily chart, the short-term prognosis is still positive. On the downside, support is located at 25,000, but if it goes forcefully over 25,250, it may lead to a climb towards 25,600 in the near future.
Q2 results, IT stocks, and global markets
The local market responded well to the Q2 results, according to Vinod Nair, Head of Research at Geojit Investments. The metals indexes led the way because base metal prices increased. It is expected that the Q2FY26 results season will be mild, especially for businesses that rely heavily on exports, such finance and IT and pharmaceuticals. However, a notable recovery is anticipated in H2FY26, propelled by a rise in domestic demand.
Investors found comfort in attractive valuations, which are currently below historical averages, and a bullish long-term outlook that is supported by signs of recovery within the US economy, which helped the IT index rise despite muted earnings expectations.
Stocks to purchase today
Market analysts Ganesh Dongre, Senior Manager of Technical Research at Anand Rathi; Shiju Koothupalakkal, Senior Manager of Technical Research at Prabhudas Lilladher; and Sumeet Bagadia, Executive Director at Choice Broking, suggested the following eight intraday stocks for today: Eternal Ltd, JSW Steel Ltd, Coforge Ltd, Patanjali Foods Ltd, DLF Ltd, Marksans Pharma Ltd, CG Power and Industrial Solutions Ltd, and Inox Wind Ltd.
Stock recommendations by Sumeet Bagadia
Eternal Ltd : Bagadia advises purchasing Eternal shares at ₹345.5 with a target price of ₹370 and a stop loss at ₹333.
Strong bullish momentum is evident in the latest all-time high of the Eternal share price, which was trading at ₹345.5. The stock closed at an all-time high after forming a rounded bottom formation and breaking out from the trend line on the weekly timeframe. As the stock keeps making higher highs and higher lows, the daily chart structure also stays positive, confirming the strength of the current uptrend.
As a result, if prudent risk management practices are followed, the price of Eternal shares presents a good buying opportunity at the current market price of 345.5, with a stop-loss at ₹333 and an upside objective of ₹370, according to current technical conditions.
JSW Steel Ltd: Bagadia suggests purchasing JSW Steel stock at ₹1,175 with a target price of ₹1,260 and a stop loss of ₹1,133.
The price of JSW Steel’s shares was at ₹1,175, and its recent robust increase indicates that it is currently showing a long-term upswing. Strong bullish momentum is evident in the price structure, which has built a new all-time high at ₹1,178.8, after a series of higher lows and highs in recent sessions. The strength of the price action is confirmed by the rising volumes supporting this bullish pattern.
In conclusion, the price of JSW Steel shares presents a solid buying opportunity for short-term traders aiming for ₹1,260 based on current technical conditions, as long as prudent risk management practices are followed.
Stocks of Ganesh Dongre to purchase now
Coforge Ltd: With a target price of ₹1,800, Ganesh Dongre advises purchasing Coforge shares at ₹1,720, with a stop loss at ₹1,675.
A robust and steady bullish pattern in the Coforge share price indicates ongoing investor interest and upward price momentum. The price of Coforge’s shares was at ₹1,720, and it has since formed a strong support base at ₹1,675. Bullish mood is reinforced by the recent price action, which points to a reversal from this support, which has historically served as a cushion.
The technical setup suggests that there may be a short-term price retreat toward the ₹1,800 mark. Entering at the current market price with a stop-loss at ₹1,675 presents a strategic opportunity to profit from the anticipated upward trend, given the regained strength and the favorable risk-reward ratio. As long as the stock stays above its main support zone, the prognosis is still favorable.
Patanjali Foods Ltd: Ganesh Dongre advises purchasing Patanjali Foods stock at ₹595 with a stop loss at ₹580 and a target price of ₹620.
The share price of Patanjali Foods has shown a strong, noteworthy, and ongoing bullish pattern, providing short-term traders with yet another encouraging chance. The stock has a solid support level at ₹580 and is now trading at ₹595. A price retreat towards the ₹620 level is possible, according to the technical setup. Entering at the present market price with a stop-loss at ₹580 gives a prudent way to profit from the expected upside as the stock is reversing from a support base and displaying signs of renewed strength.
DLF Ltd: Ganesh Dongre advises purchasing DLF shares at ₹729 with a target price of ₹759 and a stop loss at ₹709.
The price of DLF shares has shown a strong, noteworthy, and ongoing bullish trend, providing short-term traders with yet another encouraging chance. The stock has a solid support at ₹709 and is now trading at ₹729. A price retreat towards the ₹759 level is possible, according to the technical setup. Entering at the present market price with a stop-loss at ₹709 gives a sensible strategy to profit from the expected upside as the stock is reversing from a support base and exhibiting signs of renewed strength.
Shiju Koothupalakkal intraday stocks for today
Marksans Pharma Ltd: Shiju Koothupalakkal suggests purchasing Marksans Pharma stock at 169.45 with a stop loss of 166 and a target price of 182.
After a slight decline from the 270 level, the price of Marksans Pharma’s shares has stabilized and found support around the 162 zone. At this time, the candle formation is positive and there is a lot of volume, which should strengthen the bias and allow for a further increase in the days ahead. With a positive divergence visible, the RSI has recovered from the very oversold zone and indicated a buy with significant upside potential to continue the upward trend.
“We recommend purchasing the stock for the upside target of 182 while maintaining a stop loss at the 166 level, as the chart appears technically appealing,” Koothupalakkal stated.
CG Power and Industrial Solutions Ltd: Shiju Koothupalakkal suggests purchasing CG Power shares at a price of ₹761 with a stop loss of ₹743 and a target price of ₹800.
The share price of CG Power The daily chart shows a bullish candle formation with good volume participation to increase the bias following a strong consolidation phase that kept the support around the 735 zone. This suggests that there will be more upward movement in the upcoming days. The RSI is currently in a good position to recommend a buy after making a fairly good correction from the extremely overbought zone. With upside potential evident, the upward move can continue in the future.
Shiju stated, “We advise purchasing the stock for an upward target of 800 while maintaining a stop loss at the 743 level because the chart technically looks good.”
Inox Wind Ltd: Shiju Koothupalakkal suggests purchasing Inox Wind shares at 146.99 with a stop loss of 144 and a target price of 156.
The share price of Inox Wind Following a brief period of consolidation after gaining support close to the 137 zone, the market is currently showing a robust bullish candle with notable volume involvement, which should strengthen the bias and predict additional growth in the upcoming sessions. With a bullish trend reversal, the RSI has strengthened and indicated a buy with obvious upside potential.
“We recommend purchasing the stock for an upside target of 156 with the stop loss at the 144 level, as the chart technically looks appealing,” Koothupalakkal stated.
