Indian Stock Market Closes Lower Amid Global Uncertainties
The Indian stock market finished slightly down on Wednesday. Cautious investor sentiment dominated trading sessions. Persistent global macroeconomic challenges and geopolitical tensions kept risk appetite in check. Fresh buying interest remained limited throughout the day.
Uncertainty surrounding U.S. trade and tariff policies contributed to the subdued mood. Escalating civilian unrest in Iran added to market worries. Rising prospects of U.S. military intervention further heightened tensions across the Middle East region. These external factors continued to weigh heavily on investor confidence.
Market Action Driven by External Cues
Overall market movement remained primarily influenced by global developments. Investors adopted a cautious and selective approach rather than aggressive positioning. Many preferred to wait for clearer signals before committing fresh capital.
Vaishali Parekh, Vice President of Technical Research at Prabhudas Lilladher, shared her perspective on current market conditions. She believes Indian stock market sentiment appears sideways to positive. Her assessment comes as the Nifty 50 index sustains above crucial support levels.
Nifty 50 Index Analysis and Outlook
The Nifty 50 index witnessed another highly volatile trading session on Wednesday. It moved between the 25,600 and 25,780 zones during the day. The index managed to sustain above the important 100-day Exponential Moving Average support placed at 25,650.
Maintaining this level remains crucial for preserving the overall bullish bias. Parekh emphasized that the index needs to breach above the 50EMA level at 25,900 on a closing basis. Such a breakthrough would establish stronger conviction and clarity for future market movements.
She identified immediate support for Nifty at 25,500 with resistance at 25,900. The major and crucial support remains positioned near the 200-period MA at the 25,000 zone.
Bank Nifty Index Performance and Projections
The Bank Nifty index ended flat amid fluctuations during Wednesday's session. It remained gripped within a specific range throughout the trading day. Most Public Sector Undertaking banks showed active participation gaining strength.
Parekh anticipates further rise in PSU banks in coming days. The Bank Nifty has sustained above important near-term support and 50-DEMA level at 58,900 zone. This sustains the overall bias intact according to technical analysis.
The index needs a decisive close above the 60,000 zone to trigger fresh upward movement. Parekh expects Bank Nifty to have a daily range between 59,200 and 60,200 in near term.
Today's Stock Recommendations from Vaishali Parekh
Regarding intraday trading opportunities, Parekh recommended three stocks for consideration:
- Bank of Baroda: Buy at ₹307.70 with target of ₹322 and stop loss at ₹300.
- NMDC: Buy at ₹83.85 with target of ₹88 and stop loss at ₹82.
- AB Capital: Buy at ₹358.60 with target of ₹375 and stop loss at ₹350.
Disclaimer: This story serves educational purposes only. The views and recommendations expressed belong to individual analysts or broking companies, not Mint. Investors should consult certified experts before making any investment decisions.
