Nuvama at Bel-Prashanth Taps of Mehta Shares suggests that shares should buy in short term

The stock market today: Indian equity indices decreased during a widespread sale on Friday, mainly driven by pharmaceutical shares after US President Donald Trump’s announcement of a 100% tariff on brand and patented medication, while the shares dropped after Accenture’s revenue forecast to a poor demand. From 11:28 IST, the Nifty 50 and the BSE Sensex both dropped 0.50%and reached 24,758. 20 and 80,752,81 points, respectively, and are focused on their sixth consecutive day of losses. Trump started a new wave of strict rates on a wide range of imported products on Thursday, including brands and patented medication as well as heavy trucks, which will come into effect on October 1. The US represents slightly more than one -third of the pharmaceutical exports of India, which consist largely of less expensive generic alternatives to popular medication. Exports to the US rose by 20%, from about $ 10.5 billion in fiscal 2025. Although most pharmaceutical exports of India are generic medicine, there is still uncertainty about whether complex generic and biosimylars can be included in the tariff restrictions in the future, according to market experts. Market views -Prashanth Taps, research analyst, senior vice president of research at Mehta Equities Nifty 50 closed under the important 25,000 mark, which reflects the continued selling pressure and forms a clumsy structure. A further decline below 24,850 can accelerate the decline to 24,750–24.600. Indicators such as RSI and Momentum remain weak, indicating the bias in the short term. Resistance is limited about 25,000. Unless Nifty 50 regains this level, the sentiment is likely to remain negative, and traders should use a cautious, selling return approach. Bank Nifty Bank Nifty has dropped below 55,000, indicating the weakness in the leading bank shares. Immediate support is at 54,700, followed by 54,400 if the sale continues. The index has a tight resistance near 55,300, and only an exposition above can revive a bullish sentiment. Momentum indicators remain under pressure, confirming the poor prospects. The short-term trend is negative, and traders are advised to stay careful, to deploy strict stop loss while adopting a sale-to-strategy. Shares to buy for short -term Prashanth Taps recommend that you buy these three shares in the short term – Nuvama Wealth Management Ltd, SBI Cards and Payment Services Ltd, and Bharat Electronics Ltd (BEL). Nuvama Wealth Management – Buy | CMP: £ 6,032 | SL: £ 5.800 | Target: £ 7,500 Nuvama share price gained power after consolidating around the £ 6,000 zone, supported by strong volumes and positive momentum. The outbreak structure indicates space for a further rally as the stock maintains above current levels. Technical indicators remain supportive and point to higher targets of £ 7,500 in short to medium term. Traders may consider buying on dips, maintaining a stop loss at £ 5.800 to protect against volatility and to manage the risk effectively. SBI – Card – Buy | CMP: £ 887 | SL: £ 860 | Target: £ 1,000 SBI card share price shows a strong momentum after the backlash of recent support zones. The stock trades above its averages in the short term, supported by a constant demand in the financial services sector. RSI and volume trends improve, which indicates the scope for further upside. A sustained move above £ 887 could cause a rally in the direction of £ 1,000. Traders can initiate fresh long positions at CMP while holding a strict stop loss at £ 860. Call – Buy | CMP: £ 403 | SL: £ 390 | Target: £ 440 call -share price still shows bullish momentum, with a strong support of robust order flow in the defense segment. The stock trades above the most important moving averages, reflecting the continued buying interest. RSI tends higher, suggesting more upside potential. If the stock has more than £ 403, it could move to £ 440 in the short term. Traders should consider buying on dips while retaining a protective stop loss at £ 390 to reduce the disadvantage risk. Disclaimer: The views and recommendations above are those of individual analysts or brokerage companies, and not of currency. We advise investors to check with certified experts before making investment decisions.