Stock market today: Trade setup for Nifty 50, gold, silver rates to USD vs INR — eight stocks to buy or sell on Friday

Stock market today: Following mixed global market sentiments, the Indian stock market witnessed considerable correction in the early morning session on Thursday. However, bulls showed strong resilience against bears, and the key benchmark indices bounced back strongly from lower levels, finishing with sizeable gains. The Nifty 50 index gained 76 points and closed at 25,418, the BSE Sensex ended 221 points upside at 82,566, whereas the Bank Nifty index finished 359 points higher at 59,957.

Gold, silver rates today

After a strong correction ahead of the market close on Thursday, gold and silver rates today saw strong buying in early morning deals. The COMEX gold rate today opened with an upside gain and touched an intraday high of $5,480.05/oz. At 6:40 AM, the COMEX gold price today was around $5,400/oz.

Likewise, the COMEX silver rate today opened upside and touched an intraday high of $118.340/oz. At 6:40 AM, the silver price today was around $115.270/oz.

Speaking on the outlook of the silver and gold rates today, Rahul Kalantri, VP Commodities at Mehta Equities, said, “Gold rate today has support at $5340 and $5220, while resistance is at $5525 and $5600. Silver rate today has support at $112.10 and $108.75, while resistance is at $118.15 and $122.00. ON MCX, the gold price today has support at ₹1,63,050 and ₹1,60,310, while resistance is at ₹1,70,850 and ₹1,73,950. Silver price today has support at ₹3,80,810 and ₹3,74,170, while resistance at ₹3,91,810 and ₹3,98,470.”

USD vs INR

Speaking on the outlook of the Indian National Rupee (INR) against the US Dollar (USD), Jateen Trivedi, VP Research — Commodity & Currency at LKP Securities, said, “The Indian Rupee traded flat to weak near 91.94, down 0.12, as markets remain cautious ahead of the Union Budget on 1st February 2026. The currency has been under pressure due to elevated bullion prices, which have increased the import bill, along with continued FII selling in domestic equities. Participants will closely watch fiscal measures and any steps to stabilise external balances. Technically, the Rupee has immediate support near 91.55, while 92.25 acts as key resistance; a breakout on either side could trigger fresh directional momentum.”

Stock market today

Speaking on the outlook of the Nifty 50 today, Osho Krishan, Chief Manager -Technical and Derivative research at Angel One, said, “On the technical side, an ‘Inverted Head and Shoulders’ pattern is emerging on the hourly chart for the Nifty50 index, indicating a potential bullish reversal in the upcoming sessions. On the levels front, the 25,300 to 25,250 zone is likely to cushion any short-term blips, while the sacrosanct support is placed around the 25,200-25,150 zone, which coincides with the 200 DSMA. On the flip side, 25,500-25,580 (confluence of 50 & 100 DEMA) appears to act as an intermediate hurdle, and a sustained move could only facilitate further upward movement in the index. Given the prevailing market developments, it is advisable to adopt a ‘buy on dips’ strategy while considering these key levels.”

On the outlook of the Bank Nifty today, Vatsal Bhuva, Technical Analyst at LKP Securities, said, “The Bank Nifty has decisively closed above its 20-day SMA, forming a strong bullish candlestick, which signals improving price structure. Momentum indicators are supportive, with the RSI registering a bullish crossover, suggesting a pickup in buying strength. The overall setup reflects renewed strength in the index; however, volatility may remain elevated ahead of the Union Budget announcement. Despite potential short-term swings, the undertone remains bullish. For the near term, Bank Nifty is expected to trade in a broad range with support at 59,000 and resistance at 60,400 levels.”

Unveiling day trading strategy, Osho Krishnan of Angel One said, “As we move forward, our markets are likely to experience volatility leading up to Budget Day. This presents an opportunity to concentrate on thematic movers that can yield strong performance. By adopting effective risk management strategies and maintaining a proactive approach, traders can navigate this period successfully and avoid pitfalls associated with complacency in investment decisions.”

Stocks to buy today

Regarding stocks to buy today, stock market experts — Sumeet Bagadia, Executive Director at Choice Broking; Ganesh Dongre, Senior Manager of Technical Research at Anand Rathi; and Shiju Koothupalakkal, Senior Manager of Technical Research at Prabhudas Lilladher, recommended these eight intraday stocks for today: MCX, Karur Vysya Bank, Union Bank of India, BSE, Bharti Airtel, Hero Motocorp, Samvardhana Motherson, and Torrent Power.

Sumeet Bagadia’s stock recommendations today

1] MCX: Buy at ₹2686, Target ₹2880, Stop Loss ₹2590.

MCX is currently trading at ₹2686, showing a strong upward trajectory. The stock has exhibited a consistent pattern of higher highs and higher lows, underscoring sustained bullish momentum. Notably, it recently reached a fresh all-time high of 2705. The stock is trading above its 20-Day, 50-Day, and 200-Day EMAs, indicating strong support from both short- and long-term trends. MCX holds the potential for further appreciation.

2] Karur Vysya Bank: Buy at ₹302, Target ₹322, Stop Loss ₹292.

Karur Vysya Bank share price is currently trading at 302; the stock has recently reached an all-time high of ₹304.65 after breaking out of a consolidation phase. This bullish formation signals a shift in sentiment and marks the beginning of a potential long-term uptrend. The breakout is accompanied by a noticeable rise in volume, indicating strong market participation and fresh buying interest.

Ganesh Dongre’s buy or sell stocks

3] Union Bank of India: Buy at ₹180, Target ₹192, Stop Loss ₹173.

Union Bank of India share has been exhibiting a strong and consistent bullish pattern, indicating sustained investor interest and positive price momentum. The stock is currently trading at ₹180 and has established a solid support base at ₹173. This level has historically acted as a cushion, and recent price action suggests a reversal from it, reinforcing bullish sentiment.

4] BSE: Buy at ₹2867, Target ₹3050, Stop Loss ₹2770.

BSE share price has exhibited a strong, notable, and continuous bullish pattern, offering another promising opportunity for short-term traders. The stock is currently priced at ₹2867 and maintaining a strong support at ₹2770. The technical setup suggests a potential price retracement towards the ₹3050 level. With the stock reversing from a support base and showing signs of renewed strength, entering at the current market price with a stop-loss at ₹2770 offers a prudent approach to capturing the anticipated upside.

5] Bharti Airtel: Buy at ₹1969, Target ₹2070, Stop Loss ₹1930.

Bharti Airtel’s share price has exhibited a strong, notable, and continuous bullish pattern, offering another promising opportunity for short-term traders. The stock is currently trading at ₹1969 and maintaining strong support at ₹1930. The technical setup suggests a potential price retracement towards the ₹2070 level. With the stock reversing from a support base and showing signs of renewed strength, entering at the current market price with a stop-loss at ₹1930 offers a prudent approach to capturing the anticipated upside.

Shiju Koothupalakkal’s intraday stocks for today

6] Hero Motocorp: Buy at ₹5580, Target ₹5820, Stop Loss ₹5480.

The stock, after the decent correction, has taken support near the ₹5300 zone and, with a significant revival of positive candles, has improved the bias to anticipate a further rise in the coming sessions. The RSI has indicated a positive trend reversal from the oversold zone, signalling a buy. With the chart technically looking good, we can expect further gains.

7] Samvardhana Motherson: Buy at ₹113.85, Target ₹122, stop Loss ₹110.

The stock has shown an overall rising channel pattern on the daily chart and, with a decent correction, has taken support near the base of the channel at around the 108 level, thereafter indicating a revival and improving the bias for a further rise in the coming sessions.

8] Torrent Power: Buy at ₹1371, Target ₹1440, Stop Loss ₹1342.

The stock has recently taken support near the ₹1270 zone and has picked up well, moving past the important 50EMA and 200-period MA at ₹1318 and ₹1354, respectively, to improve the bias and expect further upward moves in the coming sessions.

Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.