The stock market today: Domestic benchmark indices, Nifty 50 and Sensex, took part in the global market thickening on Friday amid concerns that the US reciprocal rates could cause a global recession, after remains mostly stable during the previous session when the rates were lower on India compared to other countries. From 13:10 IST, the Nifty 50 dropped by 1.20% to 22,970.15 points, while the Sensex fell 0.96% to 75,566.50. India faced a 27%retaliation rate, less than China’s 34%, Vietnam’s 46%and the 37%of Bangladesh. The broader mid -cap and small -cap indexes also fell by 3% and 3.5% respectively to minimal disruptions in the previous session. Pharmaceutical stocks have dropped more than 6% after reports have emerged that Trump has threatened rates on pharmaceutical products on unprecedented levels. This sector completely denied its earlier 2.3% profits from Thursday when it was exempt from rates. Dr. VK Vijayakumar, investment strategist at Geojit Financial Services, has indicated that a decline in global economic growth will also affect India’s growth, although we can perform better than other major economies. Investors can choose to wait until the situation stabilizes. In the short term, it is advisable to concentrate on themes driven by domestic consumption and the pharmaceutical sector within external affected segments. A potential increase for the Indian market is the possibility that foreign institutional investors (FIIs) net buyers become due to the weakening of the dollar. A fair price of domestic consumer segments, such as finance, and growth sectors that are less influenced by rates, including telecommunications, hospitality, healthcare, cement and digital platform supplies. Market views -Prashanth Taps, research analyst, senior vice president of research at Mehta Equities Nifty 50 Nifty 50, broke down below the most important support mark of 23,150 and a constant sales pressure on 22,900-23,000, which is an important support zone. On his daily timeframe, Nifty 50 touched the Anker VWAP support mark of 22.968, which looks an important level. We feel that if we manage to close above 22,900 today – we can finally see a relief again after 23,500 and 23,800. However, Bank Nifty Bank Nifty holds well with an immediate resistance of 51,900 and 52,000 strange level and immediate support at 51,400 and 50.900. In general, we technically feel that the trend seizes bullish and that we have to see a rally after 52,000 and older over time. With most indicators showing that bullishness and other factors are in place, we feel that PSU and private bank shares should see a good rally here. Shares to buy for short -term Prashanth Taps recommend that you buy these three shares in the short term – Apollo Hospitals Enterprise Ltd, Power Grid Corporation of India Ltd, and State Bank of India (SBI). Apollo Hospitals Enterprise Ltd Buy | CMP: £ 6,632 | SL: £ 6.500 | Target: £ 6.900 Apollo hospitals keep well amid the tides of the market and show strong signs of momentum and power. With the entire hospital space holding well at higher levels and stock trading above its important moving averages, we feel that the stock could rise higher to potential targets of 6.900 and above. Technically, the stock saw that an outbreak of more than 6.700 few days was back and it is now seen that it consolidates. We feel that one has to initiate lungs here with SL 6500 for potential upside down targets of 6.900 and more. Power Grid Corporation of India Ltd Buy | CMP: £ 297 | SL: £ 290 | Target: £ 310 Power Grid shows resilience and strength, and trades above the most important moving averages with strong volume support. The stock has formed a base of about 290-295 levels and is now trying to move higher. With the overall trend that remains positive, we expect an lead to 310 and beyond. Long positions can be started at the current market price with a stop loss of 290 for higher targets. BUYING STATE BANK OF INDIA (SBI) | CMP: £ 775 | SL: £ 760 | Target: £ 800 and £ 820 SBI still shows a strong bullish momentum, supported by rising volumes and strength in the banking sector. The stock trades near its recent highlights and remains well positioned for an upward step. Given the outbreak structure, we recommend that your Longs at CMP with a stop loss of 760 for potential targets of 800 and 820 Disclaimer: The views and recommendations above are those of individual analysts, experts and brokerage companies, not of currency. We advise investors to check with certified experts before making any investment decision.
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