Indian equities are poised for a positive opening, drawing strength from a robust and supportive global market environment. Overnight, no fresh negative triggers emerged, allowing risk appetite to flourish among international investors.
Global Markets Set a Bullish Tone
Wall Street finished firmly in the green, powered by a sharp rebound in technology stocks. This surge was ignited by strong earnings guidance from Nvidia, which revitalized optimism across the artificial intelligence and semiconductor sectors. All three major US indices – the S&P 500, Dow Jones, and Nasdaq – registered healthy gains. A further sign of growing investor confidence was a more than 4% drop in the VIX volatility index, often called the 'fear gauge'.
European markets closed with a mixed but broadly stable performance, reflecting a cautious yet unstressed sentiment. In Asia, the trading mood was similarly constructive. Japan's Nikkei index was a standout, surging nearly 4%, while Korea's KOSPI climbed over 2%, highlighting a renewed appetite for growth-oriented assets across the region.
Expert View: Nifty 50 and Bank Nifty Outlook
According to Vaishali Parekh, Vice President of Technical Research at Prabhudas Lilladher, the sentiment for the Indian stock market is positive. She noted that the Nifty 50 index bounced back strongly from the 25,850 level and managed to touch 26,000. The key hurdle now lies at 26,100.
"Upon breaking above this resistance on a closing basis, we can expect the 50-stock index to reach 26,300 and 26,700, respectively," Parekh stated. She identified the crucial near-term support for the Nifty at the 25,700 level, which must be sustained for the upward move to continue.
Turning to the banking sector, Parekh said the Bank Nifty index has resumed its strong upward move, scaling new highs above the 59,250 zone. With the bias getting stronger, she anticipates higher targets of 60,500 and 63,000 in the coming days. The index has a major support level near the 50EMA at 57,200.
Today's Stock Recommendations
Vaishali Parekh has recommended three stocks for trading today:
- BEL: Buy at ₹422, target ₹435, stop loss ₹415
- ICICI Bank: Buy at ₹1382, target ₹1410, stop loss ₹1360
- Fortis Healthcare: Buy at ₹916, target ₹960, stop loss ₹905
Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
