The Indian stock market is poised for a robust opening today, buoyed by optimistic global signals following the announcement of a pivotal India–US trade agreement. This development has substantially improved global risk appetite, with the GIFT Nifty indicating a significant gap-up opening, nearly 3% higher overnight. The reduction in reciprocal tariffs on Indian goods to 18% from 25% serves as a powerful external catalyst, helping investors move beyond the recent volatility sparked by the Union Budget 2026–27.
Market Recovery and Budget Impact
As the market gradually digests the Budget's effects, yesterday's rebound showcased selective value buying in key sectors such as infrastructure, defence, and large-cap stocks. The Budget had introduced an unexpected hike in Securities Transaction Tax (STT) on derivatives, leading to a sharp knee-jerk sell-off, increased trading costs, and pressure on stocks heavily involved in futures and options (F&O) and brokerage firms. However, the trade deal offers a strong near-term sentiment boost, particularly benefiting export-oriented and manufacturing sectors. Continued government focus on capital expenditure (capex) provides steady underlying support for the broader market, reinforcing a positive outlook.
Expert Analysis on Nifty 50 and Bank Nifty
Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher, believes that the Indian stock market sentiment has turned positive after the India-US trade deal announcement. She notes that the Nifty 50 index closed near 25,000 on Monday and emphasizes that it must close above 25,400 to strengthen bulls' conviction in a fresh bull trend.
Nifty 50 Outlook
Speaking on the Nifty 50's outlook today, Parekh said, "The Nifty 50 index, amid fluctuations and anxious moments, witnessed a recovery during the second half of the session to close above the 25,000 zone with bias and sentiment still maintained with a cautious approach as of now. The index would need to close above the 25,400 zone to establish conviction and clarity, thereafter, to anticipate further upward movement in the coming days. On the downside, the 24,500 zone would be the important support zone, which needs to be sustained to maintain the overall trend intact." She identified immediate support for the Nifty 50 at 24,900 and resistance at 25,300.
Bank Nifty Outlook
On the Bank Nifty, Parekh commented, "The Bank Nifty index witnessed a revival, sustaining the support of the previous session’s low at 57,800 zone and ended in the green near 58,600 level to bring some relief to ease out the sentiment to some extent. The index would need to move past the 50-EMA zone at the 59,000 level in the coming sessions, and on the downside, as mentioned earlier, would have the important and crucial support positioned near the significant 200-period MA at the 56,800 zone, which needs to be sustained to maintain the overall trend intact." She expects the Bank Nifty to have a daily range of 57,800 to 59,200.
Stock Recommendations for Today
Regarding stocks to buy today, Vaishali Parekh recommended three stocks for intraday trading, providing specific buy levels, targets, and stop losses:
- IOC: Buy at ₹163, Target ₹170, Stop Loss ₹159
- Ambuja Cements: Buy at ₹507, Target ₹525, Stop Loss ₹497
- Deep Industries: Buy at ₹367, Target ₹385, Stop Loss ₹350
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.
