Indian Stock Market Closes Higher on Monthly Expiry Day Amid Volatility
The Indian stock market experienced significant volatility on the monthly expiry day but managed to close in positive territory on Tuesday, providing a much-needed respite following recent declines. The benchmark Nifty 50 index opened flat amidst mixed global cues and witnessed sharp oscillations throughout the trading session before settling with modest gains of nearly 0.5% at 25,175.40.
Sectoral Performance and Market Dynamics
Sectoral trends displayed a mixed yet predominantly positive bias, with metals, banking, and financial sectors emerging as the primary contributors to the market's recovery. Broader market indices also endured sharp intraday swings but ultimately concluded the day with gains approaching one per cent.
Early session selling pressure was effectively counterbalanced by strength in select heavyweight stocks. Notably, Axis Bank exhibited robust performance following encouraging earnings reports, which bolstered overall market momentum. Investor sentiment witnessed a marked improvement, fueled by growing optimism surrounding global trade developments. Specific expectations regarding progress on the India–EU free trade agreement alleviated a significant overhang on domestic markets.
Supportive global cues, coupled with easing geopolitical tensions, further enhanced risk appetite among investors. This environment triggered short covering and renewed buying interest across various sectors, contributing to the day's upward trajectory.
Expert Analysis and Market Outlook
Sumeet Bagadia, Executive Director at Choice Broking, noted that Indian stock market sentiment has improved as the Nifty 50 index has sustained above the 25,000 level. He highlighted that the 50-stock index closed above the 200-day exponential moving average (DEMA) at 25,100, signaling active buying interest at crucial support levels.
Elaborating on the Nifty 50 outlook, Bagadia stated, "The Nifty 50 index maintained strength above the 25,000 mark for much of the session, indicating active buyer participation at lower levels and emerging demand near key support zones. Early movements saw the Nifty reclaim ground and sustain above the 200-day EMAs on the 1-hour timeframe, suggesting a recovery in short-term momentum, though broader trend challenges persist."
He added, "Despite this intraday strength, the index structure continues to face overhead supply in the 25,300–25,350 zone, which may act as resistance on the upside. Conversely, the 25,000–25,050 zone remains a critical demand area; a decisive break below this region could reignite corrective bias and expose lower levels."
Regarding the Bank Nifty outlook, Bagadia commented, "On the 1-hour timeframe, Bank Nifty demonstrated relative resilience compared to the broader market and traded with a positive inclination. After recent weakness around the 58,000–58,500 area, the index attracted buying interest at lower levels, enabling a recovery above the 20 EMA and 50 EMA, which indicates improving short-term momentum."
He further explained, "The recovery from recent intraweek lows suggests buyers are defending the 58,800–59,000 support zone, a level crucial for maintaining the short-term uptrend. Immediate resistance lies in the 59,500–59,600 band, where supply pressure may re-emerge. A clean break and sustained acceptance above this zone could pave the way for further upside momentum."
Sumeet Bagadia's Breakout Stock Recommendations for Today
For intraday trading opportunities, Sumeet Bagadia recommended the following five breakout stocks:
- BSE: Buy at ₹2761, Target ₹2975, Stop Loss ₹2650.
- The BSE share price is trading in a strong primary uptrend, holding well above its rising long-term moving averages. After a brief consolidation near recent highs, the stock has exhibited renewed strength and is sustaining above the 20- and 50-EMA, indicating improving short-term momentum.
- CUB: Buy at ₹284, Target ₹306, Stop Loss ₹274.
- The CUB share price continues to trade in a well-defined uptrend on the daily chart, supported by consistent higher highs and higher lows. The stock is comfortably holding above its 20 EMA and 50 EMA, while the 100 EMA provides additional medium-term support.
- Acutaas Chemicals: Buy at ₹1725, Target ₹1850, Stop Loss ₹1650.
- ACUTAAS remains structurally bullish despite short-term consolidation. The stock is undergoing a healthy pullback within an established uptrend and is finding support near the confluence of the 50 EMA and 100 EMA. This suggests corrective activity rather than a trend reversal.
- Tech Mahindra: Buy at ₹1748, Target ₹1880, Stop Loss ₹1690.
- TechM share is currently trading at ₹1748. The stock is exhibiting a strong bullish outlook after achieving its 52-week high of ₹1749, supported by a clear trend reversal and breakout above previous resistance. The price is trading above all key EMAs, which are aligned upward and reinforcing the uptrend. The RSI at 69.81 remains in the bullish zone and is rising, indicating strong momentum.
- JSW Steel: Buy at ₹1222, Target ₹1315, Stop Loss ₹1175.
- JSW Steel share price is currently trading at ₹1222; the stock is showing a strong bullish outlook after reaching an all-time high of ₹1230.4, supported by a clear breakout from the Rounding Bottom pattern. The price is trading above all key EMAs, which are aligned upward and reinforcing the uptrend. The RSI remains in the bullish zone and is rising, indicating sustained momentum.
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 consult with certified experts before making any investment decisions.
