Stock market news: The Indian stock market fell for the third consecutive session on Wednesday to close at a near one-month low, dragged by an endless sell-off in consumer durables, private banks and IT stocks. Investors remained on the sidelines ahead of the US Federal Reserve’s results released in overnight trade. In a volatile session, the BSE Sensex fell 275 points, or 0.32%, to settle at 84,391, a level not seen since November 11, according to a PTI report. The 50-share NSE Nifty fell 82 points, or 0.32%, to close at a one-month low of 25,758. Outcome of the US Fed meeting The US Federal Reserve cut its benchmark interest rate by 0.25%, bringing the federal funds rate to its lowest level in more than three years. The new target range now stands between 3.5% and 3.75%, down from 3.75% to 4%. This is the Fed’s third consecutive rate cut since September, having cut rates by a total of 0.75% this year. The US Federal Reserve held its two-day monetary policy meeting between December 9 and December 10. According to the CME Group’s FedWatch Tool, the probability of a 25 basis point cut in the policy rate, which would lower the Federal Funds rate to between 3.5% and 3.75%, was at 87.4% before the announcement. IPO market action The action in the primary market will remain high today. While two IPOs that opened on Wednesday – Nephrocare Health Services and Park Medi World – will enter their second day of bidding, the allocation for two IPOs, namely Wakefit Innovations and Corona Remedies, will be finalized today, December 11. and indications of BOJ monetary tightening, boosting risk-off sentiment in emerging markets. Focus now shifts to the US Fed meeting, he said. Indian markets reflected global caution, weighed down by persistent FII outflows, INR weakness and uncertainty surrounding US-India trade negotiations despite ongoing discussions. In the near term, market direction will be influenced by central bank directions and clarity on trade developments, he added. Trading Setup for Thursday Rupak De, Senior Technical Analyst at LKP Securities said: “Once again, bears remained in charge as the Nifty revised yesterday’s low, reinforcing a bearish bias. The index once again found support near the 50 EMA. The RSI on the daily time frame slipped out of its more recent consolidation, below the 50 percent. Repeating the previous rise from 25,318 to 26 325, indicating weakness.” In the short term, the index is likely to remain under pressure with immediate support at 25,700, De said, adding that a decisive collapse below this level could lead to a correction to 25,610 and 25,530. “On the upside, resistance is placed at 25,870 and 25,960-26,000.” Stocks to buy today Market experts have recommended eight intraday stocks. The experts include Sumeet Bagadia (Choice Broking), Ganesh Dongre (Anand Rathi), and Shiju Koothupalakkal (Prabhudas Lilladher). Recommended eight intraday stocks for today are: Eicher Motors, AU Small Finance Bank, ICICI Bank, Infosys, Punjab National Bank, Paradeep Phosphates, Chennai Petro and Thirumalai Chemicals. Sumeet Bagadia’s stock pick Eicher Motors: Bagadia has recommended buying Eicher Motors stock at ₹7228, with a stop loss at ₹6975 and a target price of ₹7734. Bagadia said the auto stock is currently trading at 6280 and maintaining a strong upward trajectory. The stock has formed a series of higher highs and higher lows, indicating sustained bullish momentum. The recent price action indicates a breakout attempt from a broad range-bound structure, which looks like a horizontal channel that has been tested several times. This breakout is further validated by the stock marking a new All-time high of 7294 supported by consistent volume activity. The price action remains well above the major exponential moving averages, indicating a strong alignment across short- and long-term trends. Immediate resistance is seen near its higher levels, and a break above this level could pave the way for a short-term target of 7734. “On the downside, immediate support lies around 7160. The relative strength index (RSI) is currently at 60.24 and trending higher, suggesting that buying interest is strengthening. pullbacks.” AU Small Finance Bank: Bagadia recommends buying AU Small Finance Bank at ₹994, with a stop loss at ₹960 and a target price of ₹1062. AUBANK is currently trading at 994, maintaining a strong upward trajectory as the stock has consistently formed higher highs and higher lows, reflecting sustained bullish momentum, the analyst noted. It recently hit an all-time high of 1007.25, with a key resistance level around its higher levels. A breakout above this level could further accelerate buying interest. The exponential moving averages (EMAs) for the 20-, 50-, 100- and 200-day periods are all trending up, reinforcing the bullish outlook. “The price is trading above all major EMAs, indicating strong positive sentiment and continued strength in the stock. If AUBANK manages to close above the 1008 resistance level, it could gain further traction towards a short-term target of 1062. Traders should monitor price action around this resistance zone for confirmation of a breakout,” he added. On the downside, immediate support is located at 972. The Relative Strength Index (RSI) is currently at 76.49 and trending upwards, reflecting growing buying momentum. To manage risk effectively, Bagadia said a stop loss at 960 is suggested to guard against any unexpected market swing. Ganesh Dongre’s stock to buy ICICI Bank: Anand Rathi’s Ganesh Dongre has recommended buying ICICI Bank stock at ₹1360 with a stop loss at ₹1345 and a target price of ₹1398. “In the recent short-term trend analysis of the stock, a notable bullish reversal pattern has emerged. This technical pattern indicates the possibility of a temporary pullback in the stock’s price, which may reach around Rs. 1398. At present, the stock maintains a crucial support level at Rs. 1345. Given the current market price of Rs. This suggests that investors may consider buying the stock at its current price, expecting a rise to the identified target of Rs.1398, he added.Punjab National Bank (PNB) has also recommended a buy call at ₹114. ₹118 seen, which could continue its rise to its next resistance level of ₹125; hence, traders can buy and hold this stock with a stop loss of ₹114 for the target price of ₹125 in the coming weeks,” Dongre said. Infosys: Analyst Anand Rathi has a buy call on Infosys at ₹1585 with a stop loss of ₹1560 and a target price of ₹1625. “Stock has shown a strong, notable, continuous bullish pattern, which is another promising opportunity for short-term traders. offer. The stock is currently priced at ₹ 1585 and maintains a strong support at ₹ 1560. The technical setup indicates the potential for a price decline towards the ₹ 1625 level,” noted Dongre. With the stock reversing from a support base and showing signs of renewed strength, entry at the current market price with a stop loss at ₹ 1560 offers a prudent approach to capture the expected upside, he said. said.Shiju Koothupalakkal’s Stock Recommendations Paradeep Phosphates: Shiju Koothupalakkal has recommended a buy at ₹157, with a stop loss of ₹154 and a target price of ₹166. The stock has generally seen a decent correction from the 200 zone and is currently showing signs of improvement in the bias, with support near the 150 level and volume participation is gradually increasing. for further rise in the coming sessions, said Kuthupalakkal. “The RSI is well positioned and consolidating near the oversold zone and has indicated a buy to continue the positive move, with a lot of upside potential visible. With the chart looking technically good and attractive, we suggest buying the stock for an upside target of 166, keeping the stop loss at 154 level,” he added. Chennai Petroleum: Koothupalakkal has a buy recommendation on Chennai Petro at ₹945.80, with a stop loss at ₹925 and a target price of ₹990. The stock after seeing a consolidation near the period for some time 920 zone and holding above the important 50EMA level at 897 zone indicated a positive candle formation on the daily chart to improve the bias expected for further rise in the coming days, he said. “The RSI has recently corrected well from the highly overbought zone and is currently well positioned, indicating a buy with upside potential visible and with bias improving, can expect for further upward move in the coming days. With the chart looking technically attractive, we suggest buying the stock for an upside target of 990, holding the stop loss of 925 additional level,” the Lilladherbhuda level. Thirumalai Chemicals: Koothupalakkal has recommended a buy on the chemical stock at ₹229.78, with a stop loss of ₹225 and a target price of ₹247. The stock, which has seen a sharp correction from 328 zone has shown signs of support near the 209 zone and indicated a significant pullback with a positive candle formation on the daily chart with increasing volume participation visible, to enhance the bias expected for further rise in the coming sessions, the analyst said. “The RSI has indicated a positive trend reversal to indicate a buy from the highly oversold zone, and with much upside potential visible continue the positive move further forward. With the chart looking good technically, we suggest buying the stock for an upside target of 247, keeping the stop loss from 225 level,” he added. Disclaimer: This story is for educational purposes only. The opinions and recommendations expressed are those of individual analysts or brokerage firms, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can quickly change. change and circumstances may vary.