Unlock Profits: Essential Nifty 50 Trade Setup & Top 8 Must-Watch Stocks for Thursday, May 29, 2025!
The benchmark Nifty-50 Index closed down 0.3% on Wednesday, finishing at 24,752.45 amidst another volatile trading session. While the Bank Nifty saw a slight uptick of 0.12%, aided by gains in Public Sector Undertaking (PSU) banks, many other sectors, particularly Fast-Moving Consumer Goods (FMCG) and Healthcare, faced declines. Broad market indices exhibited mixed results; the mid-cap index remained flat, while the small-cap index posted modest gains.
As investors prepare for Thursday’s monthly expiry, analysts emphasize that the Nifty is likely to find robust support at the 24,600 level, matching the 20-day Exponential Moving Average (EMA). Conversely, they project resistance to emerge between the 24,900 and 25,000 marks. Hrishikesh Yedve, Assistant Vice President of Technical and Derivatives Research at Asit C. Mehta Investment Intermediates, noted that Bank Nifty currently encounters resistance in the 56,000-56,100 zone, with support positioned near 54,830.
The domestic market displayed a negative bias primarily due to a lack of foreign institutional investment (FII) and elevated valuations. Concerns regarding trade relations between India and the U.S. persist, particularly after the expiration of a recent 90-day pause period. However, positive domestic indicators, such as an improving monsoon forecast, favorable inflation trends, and expectations of a stronger fourth-quarter GDP, may help mitigate potential downsides. Vinod Nair, Head of Research at Geojit Investments Limited, emphasized the need for enhanced earnings visibility to align with macroeconomic improvements for stability.
As for investment recommendations, Sumeet Bagadia, Executive Director at Choice Broking, identified Force Motors Ltd and Astra Microwave Products Ltd as top picks. He suggested buying Force Motors at around ₹11,764 with a target of ₹12,550 and a stop loss of ₹11,350. The stock is exhibiting a bullish trend, consistently trading above key EMAs and has recently reclaimed its 20-day EMA.
For Astra Microwave Products, trading opportunities are identified at ₹1,163.7, with a target of ₹1,240 and a stop loss set at ₹1,122. The stock has reached an all-time high of ₹1,184.9, supported by robust volume and a breakout above the critical ₹1,100 resistance level.
Ganesh Dongre, Senior Manager of Technical Research at Anand Rathi, recommended SRF Ltd, Cummins India Ltd, and ICICI Prudential Life Insurance Company Ltd. He proposed buying SRF at ₹2,900, targeting ₹3,100 with a stop loss at ₹2,840. A bullish reversal pattern indicates potential advancement. Similarly, he sees Cummins India as a buy at ₹2,975, with expectations to reach ₹3,100, and a stop loss at ₹2,935.
Shiju Koothupalakkal of Prabhudas Lilladher provided recommendations for TD Power Systems Ltd, Tanla Platforms Ltd, and Indraprastha Gas Ltd. He suggests buying TD Power Systems at ₹489, targeting ₹520 with a stop loss at ₹480, while reinforcing a bullish sentiment based on recent chart patterns.
Investors are advised to remain vigilant and consult with certified experts before making any investment decisions. The recommendations shared reflect individual analysts’ viewpoints and do not represent a broader market consensus.
This article aims to deliver timely and relevant insights, aiding readers in navigating today’s complex financial landscape.
Original Source: https://www.livemint.com/market/stock-market-news/stock-market-today-trade-setup-for-nifty-50-to-global-markets-eight-stocks-to-buy-or-sell-on-thursday-29-may-2025-11748429155647.html
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Publish Date: 2025-05-29 06:18:00
