Stock Market Today: Nifty 50 Trade Setup Amid Global Cues; 8 Stocks to Watch on Thursday
Nifty 50 holds above 25,200; key support at 25,000. Focus on US GDP data, easing Israel-Iran tensions. 8 stock picks for Thursday trading.
image for illustrative purpose
India’s benchmark equity indices extended gains on Wednesday, with the Nifty 50 closing at 25,244.75, up 0.80%, and the Bank Nifty rising 0.28% to end at 56,621.15. Sectoral indices, led by Auto, IT, and FMCG, closed in positive territory, while mid- and small-cap indices also advanced between 0.44% and 1.49%, reflecting broad-based strength.
Nifty 50 Trade Setup for Thursday
Analysts point to 25,000–25,100 as key support levels for the Nifty 50. Holding above this range could sustain the market’s bullish momentum. On the upside, 25,300 is seen as immediate resistance. A breakout above this level could pave the way toward 25,450–25,500, said Shrikant Chouhan, Head of Equity Research at Kotak Securities.
For the Bank Nifty, momentum remains strong. According to Bajaj Broking, the index has recovered over 80% from its recent pullback and remains positive above 55,400.
Global Market Watch: Israel-Iran Tensions and US GDP Data
Investors are also closely monitoring geopolitical developments, particularly easing tensions in the Israel-Iran conflict, which have contributed to improved risk sentiment. Eyes are now on the upcoming US Q1 GDP data, due Thursday, which could influence global market direction.
On the domestic front, financial stocks and monsoon-sensitive sectors are expected to remain in focus, as rainfall patterns improve. A robust IPO pipeline and increasing market participation are likely to benefit capital market-related stocks, according to Siddhartha Khemka, Head of Research at Motilal Oswal Wealth Management.
Khemka expects Indian equities to maintain their strength, supported by favorable domestic cues and easing global uncertainties.
Top Stock Picks for Thursday, 26 June
Sumeet Bagadia – Choice Broking
1. Jubilant FoodWorks Ltd. (JUBLFOOD)
- Buy @ ₹713 | Target: ₹763 | Stop-loss: ₹688
The stock has broken out above a recent swing high with strong bullish candlesticks and volume support, signaling a potential trend reversal.
2. Birlasoft Ltd. (BSOFT)
- Buy @ ₹443.65 | Target: ₹475 | Stop-loss: ₹428
A breakout from a symmetrical triangle pattern with volume confirmation suggests continued upward momentum.
Ganesh Dongre – Anand Rathi
3. State Bank of India (SBI)
- Buy @ ₹800 | Target: ₹830 | Stop-loss: ₹775
A bullish engulfing pattern and RSI rebound from oversold territory indicate a likely short-term reversal.
4. Ambuja Cements Ltd. (AMBUJACEM)
- Buy @ ₹560 | Target: ₹575 | Stop-loss: ₹552
Recent technical indicators hint at a possible bullish retracement.
5. Tata Chemicals Ltd. (TATACHEM)
- Buy @ ₹940 | Target: ₹985 | Stop-loss: ₹910
A bullish reversal pattern suggests near-term upside potential.
Shiju Koothupalakkal – Prabhudas Lilladher
6. Greaves Cotton Ltd. (GREAVES COTTON)
- Buy @ ₹203.70 | Target: ₹215 | Stop-loss: ₹198
The stock shows a bullish trend with higher lows, strong RSI signals, and potential for further gains.
7. Swiggy Ltd. (SWIGGY)
- Buy @ ₹399.90 | Target: ₹420 | Stop-loss: ₹392
Following a breakout above an inverted head and shoulders pattern, momentum and volume support further upside.
8. Gujarat State Fertilizers & Chemicals Ltd. (GSFC)
- Buy @ ₹203 | Target: ₹215 | Stop-loss: ₹198
A rebound from moving average support levels and rising volumes suggest a continuation of bullish momentum.
Outlook: With reduced geopolitical concerns and encouraging domestic developments, market sentiment appears constructive. Investors should monitor global cues, especially US macro data, while tracking performance in financial and monsoon-sensitive sectors.
