Stock Market Today: Nifty 50 Trade Setup, Trump Tariffs, and 8 Stocks to Buy or Sell on Tuesday
The benchmark Nifty 50 index started the new week with 0.81% gains, ending at 24,625.05 on Monday. The Bank Nifty at 54,002.45 also rebounded 0.65%, while Auto, IT, metals, and realty were among key gainers. However, Pharma indices stood among the key losers. Among the broader indices, mid- and small-caps ended with 1.5-2% gains.
Trade Setup for Tuesday
The Nifty-50 index now faces a key resistance zone around 24,700 and a breakout above this level could trigger an upside move towards 24,900. As long as Nifty trades below 25,000, pullbacks may attract selling pressure, said Nilesh Jain, Head – Technical and Derivatives Research Analyst (Equity Research), Centrum Broking Ltd.
Bank Nifty has immediate support at 53,200-53,500, as per Bajaj Broking.
SCO Summit 2025
Prime Minister Narendra Modi returned to New Delhi on Monday evening, concluding his four-day visit to Japan and China, which spanned from August 29 to September 1.
Describing the visit as “productive” in a post on X, PM Modi said he emphasised India’s position on key global issues during his engagements.
On the SCO summit, PM Modi wrote on X, “Concluding a productive visit to China, where I attended the SCO Summit and interacted with various world leaders. Also emphasised India’s stand on key global issues. Thankful to President Xi Jinping, the Chinese government and people for the successful organisation of this Summit.”
Trump Tariff News
On the geo-political front, there is optimism over PM Modi’s meeting with his Chinese and Russian counterparts in the ongoing SCO summit in China. Overall, the domestic macro backdrop and demand environment remains constructive, though the overhang of 50% US tariffs and persistent FII selling could keep the market range-bound, said Siddhartha Khemka – Head of Research, Wealth Management, Motilal Oswal Financial Services Ltd.
Stocks to Buy Today
Regarding stocks to buy today, market experts—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—recommended these eight intraday stocks for today: UNO Minda Ltd., Eicher Motors Ltd., Reliance Industries Ltd., PNC Infratech Ltd., Bank of India, Paradeep Phosphates, Zuari Agro Chemicals Ltd, and HEG Ltd.
Sumeet Bagadia’s Stock Picks
1. UNO Minda Ltd: Bagadia recommends buying UNOMINDA at around ₹ 1314.6 keeping Stoploss at ₹ 1275 for a target price of ₹ 1394. UNOMINDA is trading at 1314.6, registering a strong breakout from a prolonged consolidation phase with robust volumes, highlighting renewed participation and strong entry of fresh buyers that have fueled the ongoing momentum.
2. Eicher Motors Ltd: Bagadia recommends buying EICHERMOT at around ₹6280 keeping stoploss at ₹6091 for a target price of ₹6656. EICHERMOT is currently trading at 6280 and maintaining a strong upward trajectory. The stock has been forming a series of higher highs and higher lows, indicating sustained bullish momentum.
Ganesh Dongre’s Stocks to Buy Today
3. Reliance Industries Ltd: Dongre recommends buying reliance at around ₹1354 keeping stoploss at ₹1326 for a target price of ₹1387. A short-term trend analysis of the stock reveals encouraging technical signals that suggest a potential bullish reversal.
4. PNC Infratech Ltd: Dongre recommends buying PNCINFRA at around ₹303 keeping Stoploss at ₹295 for a target price of ₹315. In the recent short-term trend analysis, the stock has shown signs of a potential bullish retracement, supported by emerging technical indicators.
5. Bank Of India: Dongre recommends buying BANKINDIA at around ₹112 keeping Stoploss at ₹108 for a target price of ₹118. A recent short-term analysis of the stock reveals the emergence of a bullish reversal pattern on the chart, indicating a possible near-term price rebound.
Shiju Koothupalakkal Intraday Stocks for Today
6. Paradeep Phosphates Ltd: Koothupalakkal recommends buying PARADEEP PHOSPHATE at around ₹228 for a target price of ₹242 keeping Stop loss at ₹223. The stock has recently witnessed a strong spurt and after a short consolidation period has once again shown signs of positive spurt with decent volume participation to anticipate for further rise in the coming sessions.
7. Zuari Agro Chemicals Ltd: Koothupalakkal recommends buying ZUARI AGRO at ₹371.60 for a target price of ₹394 keeping Stoploss at ₹363. The stock having recently witnessed a significant spurt has maintained the strong trend intact and after a short period of correction has once again indicated a pullback to improve the bias anticipating for further rise in the coming sessions.
8. HEG Ltd: Koothupalakkal recommends buying HEG LTD at around ₹478.45 for a target price of ₹505 keeping Stop loss at ₹468. The stock after witnessing a decent correction has shown signs of taking support near the ₹460 zone and with a positive candle formation moving past the important 200 period SMA at ₹470 level has improved the bias expecting for further rise in the coming sessions.
The RSI has arrived near the oversold zone and has indicated a positive trend reversal to signal a buy with strength indicated and having much upside potential to carry on with the positive move further ahead.