Stock market today: Trade setup for Nifty 50, Q2 results, Pine Labs IPO to gold prices – 8 stocks to buy
Stock market news: During Thursday’s trading session, Indian stock markets closed in the negative territory due to profit-taking activities. The Nifty 50 dropped by 88 points to finish at 25,509, while the Sensex declined by 148 points to settle at 83,311.
Additionally, the broader market indices also experienced downturns, with Nifty Midcap decreasing by 0.7% and Smallcap by 1.2%, indicating widespread caution. This decline was attributed to ongoing foreign institutional investor (FII) sell-offs and weakness in critical sectors.
On November 4, foreign investors offloaded ₹1,067 crore, bringing their net outflows for 2025 to approximately ₹1.49 lakh crore.
Abhinav Tiwari, a Research Analyst at Bonanza, noted that future market movements will be influenced by foreign investments and the earnings reports for Q2 FY26.
Investors are keeping an eye on significant results, particularly from LIC, for insights regarding profitability and growth. On the macroeconomic front, the rupee remains stable at approximately 88.6, bolstered by RBI interventions, while international markets are anticipating a 65% likelihood of an additional rate cut in December, believes Tiwari.
Trade Setup for Friday
Rupak De, a Senior Technical Analyst at LKP Securities, mentioned that the Nifty 50 has dropped below the important 21EMA on the daily chart, suggesting a lack of strength.
Nevertheless, the index has decreased toward the support level of the previous swing high, which is around 25,450. Moving forward, if the index falls beneath 25,450, the short-term trend could weaken further. Conversely, if it remains above 25,450, there could be a notable trend reversal, advised De.
Global Markets, Q2 results, US macro data to IPO frenzy
Vinod Nair, Head of Research at Geojit Investments Ltd, noted that the domestic market was characterized by volatility, with widespread profit-taking observed amid ongoing foreign institutional investor (FII) withdrawals, even with positive trends in the Asian market.
Nair believes that the initial optimism from the addition of four Indian firms to the MSCI Global Standard Index and encouraging US economic data was counterbalanced by disappointing domestic PMI figures, reflecting a cooling sentiment.
While most sectors experienced declines, IT stocks showed resilience, buoyed by earnings that met expectations and favorable US economic indicators. Despite overall caution, there was some selective purchasing in fundamentally strong companies due to better-than-anticipated Q2 earnings, according to Vinod Nair.
Stocks to buy today
Regarding stocks to buy today, 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: Dabur India Ltd, PI Industries Ltd, NTPC Ltd, Bharat Electronics Ltd (BEL), Maruti Suzuki India Ltd, Belrise Industries Ltd, Manappuram Finance Ltd, and K.P.R. Mill Ltd.
Sumeet Bagadia’s stock picks
Dabur India Ltd: Bagadia recommends buying Dabur India share price at ₹524 keeping a stoploss at ₹506 with a Dabur India share price target of ₹560.
Sumeet Bagadia explained that Dabur India share price was trading at the levels of 524, the stock has witnessed a strong rebound from recent lows, forming a double-bottom pattern, which indicates a potential trend reversal.
“This pattern is a classic bullish formation that suggests the stock has found a strong base and is ready for an upward move. The stock is also trading above the 20-day, 50-day, 100-day, and 200-day Exponential Moving Averages, further strengthening the bullish sentiment,” said Bagadia.
In conclusion, based on the technical analysis and current market conditions, Sumeet Bagadia believes that Dabur India share price presents a promising buying opportunity for those aiming for a 560 target, provided that appropriate risk management strategies are in place
PI Industries Ltd: Bagadia recommends buying PI Industries share price at ₹3,750 keeping a stoploss at ₹3,620 with a PI Industries share price target of ₹4,010.
Sumeet Bagadia noted that PI Industries share price was trading at 3,750 and has shown a strong rebound after taking support from lower levels, indicating renewed buying interest and participation from fresh buyers.
“The stock has managed to recover swiftly after recent declines and is maintaining strength above its crucial support zone near 3,690. The overall price structure highlights resilience as the stock is forming a base at lower levels and pushing higher with steady volumes,” said Bagadia.
In conclusion, based on current technical conditions, Sumeet Bagadia explained that PI Industries share price offers a strong buying opportunity for short-term traders targeting 4,010, provided sound risk management measures are maintained.
Ganesh Dongre’s stocks to buy today
NTPC Ltd: Ganesh Dongre recommends buying NTPC share price at ₹326 with a stoploss at ₹316 with NTPC share price target of ₹342.
Ganesh Dongre said that in the recent short-term trend analysis of the stock, a notable bullish reversal pattern has emerged. This technical pattern suggests the possibility of a temporary retracement in the stock’s price, potentially reaching around ₹342.
“At present, the stock is maintaining a crucial support level at ₹316. Given the current market price of ₹326, a buying opportunity is emerging. This suggests that investors might consider purchasing the stock at its current price, anticipating a rise towards the identified target of ₹342,” said Dongre.
Bharat Electronics Ltd (BEL): Ganesh Dongre recommends buying BEL share price at ₹408 with a stoploss at ₹400 with BEL share price target of ₹430.
Ganesh Dongre said that we have seen a major support in this stock around ₹400. So, at the current juncture, the stock has again seen a reversal price action formation at the ₹410 price level, which may continue its rally till its next resistance level of ₹430 so traders can buy and hold this stock with a stop loss of ₹400 for the target price of ₹430 in the upcoming weeks, highlighted Dongre.
Maruti Suzuki India Ltd: Ganesh Dongre recommends buying Maruti Suzuki share price at ₹16,450 with a stoploss at ₹16,000 with Maruti Suzuki share price target of ₹16,800.
Ganesh Dongre explained that in the recent short-term trend analysis of the stock, a notable bullish reversal pattern has emerged. This technical pattern suggests that there could be a temporary retracement in the stock’s price, possibly to around ₹16,800 Currently, the stock is holding a crucial support level at ₹16,000, said Dongre.
“Given this scenario, there is potential for the stock to rebound towards the ₹16,800 level in the near future. Traders are advised to consider taking a long position, with a strategic stop loss set at ₹16,000 to manage risk effectively. The target price for this trade is ₹16,800, reflecting the anticipated upward movement based on the identified technical,” said Ganesh Dongre.
Shiju Koothupalakkal intraday stocks for today
Belrise Industries Ltd: Shiju Koothupalakkal recommends buying Belrise Industries share price at ₹149.50 with a Belrise Industries share price target of ₹158 with a stop loss of ₹146.
Shiju Koothupalakkal said that the stock after having witnessed a short period of correction has taken support near the 143 zone and indicated a decent recovery with significant volume participation to improve the bias, expecting for further rise in the coming sessions.
“The RSI has corrected well and is currently well placed to signal a buy on the daily chart. With the chart technically looking good, we suggest buying the stock for an upside target of 158 keeping the stop loss of 146 level,” advised Koothupalakkal.
Manappuram Finance Ltd: Shiju Koothupalakkal recommends buying Manappuram Finance share price at ₹274 with a Manappuram Finance share price target of ₹292 with a stop loss of ₹267.
Shiju Koothupalakkal said that the stock has indicated a decent pullback after the slide witnessed with significant volume participation visible improving the bias and expecting for further follow through of the positive move further ahead in the coming sessions.
“The RSI is well positioned near the oversold zone and indicating a positive trend reversal to signal a buy, can carry on with the positive move further ahead. With the chart technically looking good, we suggest buying the stock for an upside target of 292 keeping the stop loss of 267 level,” advised Koothupalakkal.
K.P.R. Mill Ltd: Shiju Koothupalakkal recommends buying K.P.R. Mill share price at ₹1,080 with a K.P.R. Mill share price target of ₹1,140 with a stop loss of ₹1,055.
Shiju Koothupalakkal said that the stock has been maintaining above the important 200 period MA at 1,030 zone with currently indicating a positive candle moving above the 50EMA at 1,057 level has shown signs of improvement to anticipate for further rise in the coming sessions.
“The RSI is currently well placed and with strength indicated and indicating a positive trend reversal to signal a buy, can carry on with the positive move further ahead. With the chart technically looking good, we suggest buying the stock for an upside target of 1,140 keeping the stop loss of 1,055 level,” advised Koothupalakkal.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
