Indian stock markets opened with gains on Friday morning. The benchmark indices, Nifty 50 and Sensex, moved higher right from the start. This positive momentum came largely from Infosys. The IT giant released its quarterly results and upgraded its revenue outlook.
Market Opens in Green Territory
At 9:15 AM IST, the Nifty 50 index increased by 0.12 percent. It reached a level of 25,696.05 points. The Sensex grew by 0.35 percent to touch 83,670.79 points. Nine out of sixteen major sectors showed increases at the opening bell. The broader market segments also performed well. Small-cap stocks grew by 0.1 percent. Mid-cap stocks advanced by 0.2 percent.
Infosys Drives the Rally
Infosys, the country's second-largest software services provider, delivered a surprise. The company unexpectedly revised its full-year revenue growth projection. It now expects growth between 3 percent and 3.5 percent. This is higher than the previous forecast of 2 percent to 3 percent.
The company cited a strong demand environment for this upgrade. It pointed to consistent discretionary tech spending by clients. Infosys also noted a rebound in its primary financial services sector. This positive news from a major IT player provided significant support to market sentiment.
Expert Views on Market Direction
Nifty 50 Analysis
Prashanth Tapse, Research Analyst and Senior Vice President of Research at Mehta Equities, shared his perspective. He noted that Nifty 50 is trading near a crucial support zone. Immediate support sits at 25,600 points. This level will be important to watch in coming sessions.
A decisive breakdown below 25,600 may invite further weakness in the index. On the upside, resistance appears near 25,800 points. Selling pressure is likely to emerge at this level during pullbacks. A sustained move above 25,800 will be required to improve sentiment. Until then, the index may remain range-bound with a cautious undertone.
Bank Nifty Outlook
Bank Nifty is hovering close to its key support at 59,400 points. Holding above this level is essential to prevent further downside. A break below 59,400 could open the door for additional corrective moves.
Resistance is placed near 59,800 points on the higher side. This level will likely cap any immediate recovery attempts. A strong close above 59,800 will be needed to revive bullish momentum. Currently, the index is in a consolidation phase near support levels.
Stocks to Consider for Short Term
Prashanth Tapse recommends three stocks for short-term trading opportunities. These include Groww, Belrise Industries, and Coforge.
Groww Trading Setup
The stock is showing steady accumulation near its support zone. This indicates buying interest at lower levels. The stock structure remains positive. Momentum indicators are gradually improving.
A move above ₹172 can trigger fresh upside toward ₹182 and ₹190. As long as the stock holds above ₹162, the near-term outlook remains constructive. Current market price is ₹170 with a stop-loss at ₹162.
Belrise Industries Position
Belrise is trading in a positive setup after brief consolidation. The stock is holding above its short-term support. This suggests strength in the ongoing trend.
A sustained move above ₹175 may accelerate momentum toward ₹182 and ₹190. Traders can consider buy-on-dips strategies with a strict stop-loss at ₹165. Current market price stands at ₹172.
Coforge Momentum
Coforge continues to maintain a strong uptrend. The stock shows higher-high and higher-low formations. It is trading above key moving averages, indicating trend continuation.
A breakout above ₹1,740 can lead to further upside toward ₹1,780 and ₹1,830. The structure remains bullish as long as the stock holds above ₹1,680. Current market price is ₹1,725.
Disclaimer: The views and recommendations mentioned above belong to individual analysts or broking companies. They do not represent the views of Mint. Investors should consult certified experts before making any investment decisions.
