Stock Market Today: Nifty 50 Trade Setup, Fed Rate Cut Hopes, Global Rally & 8 Stocks to Watch
Indian stock market today: Sensex and Nifty closed lower amid profit booking, global cues, Fed rate cut expectations, and volatility concerns. Experts share Nifty 50 trade setup, outlook, and eight stocks to watch or buy today.
Sensex and Nifty trade lower amid global market cues, volatility, and Fed rate cut expectations.
The stock market in India closed on a negative note last Monday with a decrease of 331 points in Sensex and 108 points in Nifty 50, hence, closing at 25,959. Nonetheless, the pullback did not affect the index's high levels as they were still touching record heights. The reasons for the dip were mainly profit booking and the general cautiousness in the market according to the analysts.
Market Snapshot
Weakness was visible across major sectors, especially real estate, metals, and capital goods, while IT stocks held steady, offering partial support.
Vinod Nair, Head of Research at Geojit Investments, said the decline in the final hour of trade was largely influenced by expiry and the Nifty’s struggle to stay above the psychological 26,000 level.
“Investors are cautious ahead of major geopolitical and trade-related developments, especially uncertainty regarding the India-US interim trade agreement. Positive global cues driven by increasing expectations of a December Federal Reserve rate cut are helping maintain sentiment,” he added.
Technical View
Market experts suggest the index has entered a short-term corrective phase. According to analysts, if the Nifty opens or closes below 25,950, the correction may extend toward the 25,850 support level. Resistance remains at 26,100, and traders are advised to maintain a cautious stance unless the index moves decisively above this level.
Global Market Boost
Wall Street rallied strongly overnight, led by a surge in key technology stocks and renewed optimism that the Federal Reserve may cut interest rates in December. Gold prices remain steady after a sharp rise, while crude oil is marginally lower.
Stocks to Watch: 8 Analyst-Recommended Picks
Market experts including Sumeet Bagadia (Choice Broking), Ganesh Dongre (Anand Rathi) and Shiju Koothupalakkal (Prabhudas Lilladher) have recommended eight stocks for intraday or short-term consideration.
The recommended picks include:
Federal Bank, Tech Mahindra, KEI Industries, Astra Microwave Products, Astral, TD Power Systems, NOCIL, and Sundram Fasteners.
Analysts cite bullish indicators such as rising moving averages, RSI strength, double-bottom formations, and breakout potential across these stocks. Many are trading near key support levels and are expected to witness upward momentum if broader market conditions stabilise.
Market Outlook
The short term instability is predicted by the analysts to be sustained globally due to policy updates, central bank comments and trade negotiations. Nevertheless, providing the market is still approximately at its all-time high, specialists are of the opinion that the downturn is a healthy consolidation rather than a change in trend.
