The Indian equity market is poised for a flat to cautious opening on Wednesday, mirroring mixed signals from global peers. Investors are adopting a guarded stance due to escalating geopolitical tensions and renewed worries about tariffs, leading to profit-booking at higher levels and curbing overall risk appetite. Consequently, trade is expected to remain largely range-bound, with movement driven by specific stocks and sectors rather than a broad market trend.
Global Cues Present a Mixed Picture
Overnight, US markets closed higher, with the S&P 500 and Dow Jones Industrial Average hitting fresh record highs. This strength was fueled by robust technology shares, optimism surrounding artificial intelligence-driven growth, and expectations that the Federal Reserve might ease monetary policy in 2026. In contrast, Asian markets are displaying signs of consolidation after a strong yearly start. Japan's Nikkei index was trading marginally lower as investors engaged in profit-taking.
Market Outlook: Nifty Holds Key Support, Bank Nifty in a Range
Vaishali Parekh, Vice President of Technical Research at Prabhudas Lilladher, stated that the sentiment for the Indian market is cautious to positive. She emphasized that the Nifty 50 index is sustaining above a crucial support level—the 50-day Exponential Moving Average (DEMA) placed at 25,900. Maintaining this level is vital for reinforcing bullish confidence and could pave the way for the index to reach 26,500 in the near term.
"The index has still overall maintained the positive bias as of now with the major support positioned near the 50-day EMA level of 25,900 zone, which needs to be sustained to maintain the overall bias intact," Parekh commented on the Nifty's outlook.
Regarding the Bank Nifty, Parekh noted it witnessed a rangebound session with resistance near the 60,300 mark. She identified important support near the 50-day EMA at the 58,700 zone. The index is expected to have a daily range between 59,800 and 60,500. For the Nifty 50, immediate support is at 26,100, while resistance is placed at 26,300.
Intraday Stock Picks from Vaishali Parekh
For today's trading session, Vaishali Parekh has recommended three stocks for purchase. Here are her specific buy calls with targets and stop-loss levels:
- Tata Consumer Products: Buy at ₹1210, target ₹1255, stop loss ₹1185.
- HDFC Life: Buy at ₹777.85, target ₹825, stop loss ₹760.
- Redington: Buy at ₹285.80, target ₹300, stop loss ₹278.
Precious Metals: Silver Hits Lifetime High
In the commodities market, gold prices held steady after three straight sessions of gains. Investor attention is shifting from geopolitical risks to upcoming key US economic data. Silver, however, extended its bull run. The COMEX silver price opened with a gap up and touched a new lifetime high of $82.548 per ounce shortly after opening on Wednesday. This uptrend follows the escalation of the US-Venezuela crisis. On the Multi Commodity Exchange (MCX), silver rates also reached a new peak, hitting an intraday high of ₹2,59,322 per kg on Tuesday before settling around ₹2,58,000 per kg.
Disclaimer: The views and recommendations presented are those of the individual analyst. They are for educational purposes only and not investment advice. Investors are strongly advised to consult with certified experts before making any investment decisions.
