The Indian stock market displayed early signs of a rebound on Friday, shaking off a multi-session decline. Strong performances in select IT and banking stocks fueled this recovery, following positive earnings surprises. This bounce highlighted the underlying resilience of domestic financials, even as global uncertainties continued to cast a shadow.
Drivers of the Market Recovery
Heavyweight IT stocks led the charge, buoyed by upbeat quarterly updates. Their strength helped the market absorb persistent concerns around U.S. tariff threats, including potential secondary duties linked to trade with Russia and Iran. While these tariff-related overhangs remain, their impact has been contained so far.
Continued domestic institutional inflows have provided a crucial stabilising cushion against moderate foreign institutional investor outflows. Export-oriented sectors remain cautious. However, resilient domestic consumption, steady services growth, and diversification in trade partners continue to support the broader economic outlook.
From a broader perspective, the recent pullback appears as a healthy correction within a larger uptrend. Key indices are respecting higher-timeframe supports. Improving earnings momentum and sustained DII participation continue to limit downside risk. Yet, global headwinds and U.S. policy uncertainties may cap aggressive upside in the near term.
Expert Views on Key Indices
Nifty 50 Outlook
Osho Krishan, Chief Manager of Technical and Derivative Research at Angel One, shared his analysis. He stated that the Nifty 50 index is positioned at a critical inflexion point. Any adverse global developments could potentially disrupt the prevailing chart structure soon.
On the downside, the 25500-25450 zone has emerged as a key support area, providing a cushion against declines. This range is expected to remain a crucial support band in the event of further weakness next week. On the upside, the index continues to face strong resistance in the 25875-25900 range, which coincides with the 50-day EMA.
In the absence of a decisive and sustained breakout above this resistance zone, the Nifty50 is likely to trade cautiously, with a consolidative bias.
Bank Nifty Outlook
Nilesh Jain, Head of Technical and Derivatives Research at Dentrum Broking, commented on the Bank Nifty. He noted that the index continued to display notable resilience and outperformed the broader Nifty index on a weekly closing basis.
The index decisively crossed the psychologically important 60,000 level. It is currently trading comfortably above all its key short- and long-term moving averages, highlighting underlying strength and sustained buying interest.
Immediate support is at the 21-DMA near 59,480, followed by the next crucial support zone around 59,200–59,190. The overall technical structure remains constructive, suggesting that the uptrend is firmly intact.
Given the strong price action and supportive trend indicators, Bank Nifty appears well-positioned to scale fresh record highs in the near term. There is an upside potential towards the 60,500 mark in the short term.
Precious Metals: Silver and Gold Rates Today
COMEX and MCX Silver Outlook
Ponmudi R, CEO at Enrich Money, discussed the COMEX silver rate. He observed that COMEX Silver has witnessed mild profit-booking over the last two sessions. It formed a hanging man candle near higher levels, indicating temporary exhaustion rather than trend failure.
Prices are consolidating around $88–$87 after correcting from $93+, while remaining well within a strong ascending channel. As long as silver holds above the $82–$83 support zone, the broader bullish structure remains intact. A breakout above $92 is likely to revive momentum toward $95–$100.
On the MCX silver price, the expert said it continues to respect its bullish channel structure after consolidation. The ₹2,83,000– ₹2,80,000 zone acts as strong support. A sustained move above ₹2,95,000 could accelerate prices toward ₹3,05,000– ₹3,20,000.
Given the persistent supply gaps and rising industrial demand, the broader setup continues to favour aggressive dip-buying strategies.
COMEX and MCX Gold Outlook
On the technical front, COMEX Gold is consolidating within the $4,530–$4,610 range after record highs. It continues to respect its multi-year rising channel and higher-low structure. The previous breakout zone around $4,500 has now turned into a strong support area.
A sustained breakout above $4,650 could open the path toward $4,800–$5,000, keeping the broader strategy firmly tilted toward buying on dips.
Regarding MCX gold, the rate is trading near ₹1,42,500 per 10 grams. It continues to consolidate after lifetime highs within a well-defined upward channel. Support is placed in the ₹1,38,000– ₹1,40,000 zone. A decisive move above ₹1,43,000 could extend the rally toward ₹1,45,000 to ₹1,48,000 and higher.
The structure remains positive, supported by global price strength, rupee dynamics, and steady domestic demand.
Impact of Trump's Tariffs on Indian Market
Seema Srivastava, Senior Research Analyst at SMC Global Securities, commented on the potential impact of Trump's proposed tariffs on Greenland, Denmark, and other NATO countries. She stated that the Indian market may experience fluctuations, especially if the tariffs escalate into a broader trade war.
Key sectors that could be affected include:
- Pharmaceuticals
- Textiles
- Gems and jewellery
- Steel and metals
- Automobiles
- Solar equipment
- Leather
However, some market experts view this as a positive long-term development. Sandeep Pandey, Co-founder of Basav Capital, shared his perspective. He said the tariffs are expected to fuel the Free Trade Agreement negotiations between India and the European Union.
As the FTA deal between India and the EU is in the final stage, we can expect this to become a reality after Trump's intimidation of the EU countries. So, if any volatility emerges in the Indian stock market on Monday, it would be short-lived.
The market is expected to respond to the strong Q3 results for Indian banking majors like HDFC Bank, ICICI Bank, RBL Bank, Yes Bank, and Punjab and Sind Bank.
Stocks to Buy Today: Expert Recommendations
Stock market experts recommended eight intraday stocks for today. 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 provided these picks.
Sumeet Bagadia's Stock Recommendations
- AU Small Finance Bank: Buy at ₹1025, Target ₹1100, Stop Loss ₹990. The stock has recently given a high-volume breakout above the psychological ₹1,000 zone, confirming renewed buying interest and trend strength.
- LTIMindtree: Buy at ₹6308, Target ₹6750, Stop Loss ₹6100. The stock has recently broken above the consolidation range near ₹6,200 to ₹6,250, supported by strong bullish candles and rising volume.
Ganesh Dongre's Buy or Sell Stocks
- IEX: Buy at ₹140, Target ₹152, Stop Loss ₹124. The stock has been exhibiting a strong, consistent bullish pattern, indicating sustained investor interest.
- Cholamandalam Investment and Finance: Buy at ₹1700, Target ₹1750, Stop Loss ₹1670. The stock has exhibited a strong, notable, and continuous bullish pattern.
- Bharti Airtel: Buy at ₹2015, Target ₹2150, Stop Loss ₹2000. The stock has exhibited a strong, notable, and continuous bullish pattern.
Shiju Koothupalakkal's Intraday Stocks for Today
- HCL Technologies: Buy at ₹1698, Target ₹1790, Stop Loss ₹1665. The stock has indicated a decent revival from near the 50EMA level at the ₹1610 zone with bias improving.
- Coforge: Buy at ₹1732, Target ₹1840, Stop Loss ₹1695. The stock, after witnessing a decent correction, has stabilised near the ₹1640 zone and has improved the bias.
- Mishra Dhatu: Buy at ₹357.85, Target ₹377, Stop Loss ₹349. The stock has been consolidating for quite some time, maintaining support near the 50-EMA zone at the ₹341 level.
Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies. We advise investors to check with certified experts before making any investment decisions.
Key Takeaways
- The Indian stock market is rebounding despite global tariff uncertainties, showcasing resilience.
- Key indices like Nifty 50 and Bank Nifty are at critical support levels, indicating potential trading strategies.
- Investors should consider expert-recommended stocks for intraday trading amidst market fluctuations.
