Market Wrap: Flat finish ahead of Fed outcome
Indian stock markets ended nearly unchanged on Tuesday as traders stayed cautious ahead of the US Federal Reserve’s interest rate decision. The Sensex slipped 150 points to 84,628, while the Nifty 50 closed 30 points lower at 25,936, after an early-morning bounce fizzled out.
Weak global cues and foreign investor selling triggered mild profit-booking, even as metal, PSU bank, and realty stocks held firm. Sectors like IT and financials, however, dragged the indices lower.
Analysts said volatility is likely to stay elevated this week given the twin triggers of the US Fed policy review and the monthly F&O expiry.
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“Volatility will rise, but trend stays positive”
According to Abhinav Tiwari, Research Analyst at Bonanza, the market is expected to see heightened volatility in the coming sessions as traders await signals from the FOMC policy outcome.
He added, “The focus will stay on banking, metals, and real estate sectors. Domestic inflows and government push in infrastructure are likely to support the market even if global cues remain mixed.”
Similarly, Rupak De of LKP Securities noted that Nifty 50 is still trading above its 21-day EMA, keeping the overall structure bullish. “The RSI shows a positive crossover, and momentum is likely to accelerate once Nifty crosses 26,000. Immediate resistance stands near 26,300, while support is seen at 25,850,” he said.
Global triggers in play: US-China talks, metal rally
On the global front, investors are keeping an eye on the US Federal Reserve’s rate decision, US-China trade discussions, and corporate earnings from major tech companies.
Vinod Nair of Geojit Financial Services said that while the domestic market appeared unstable due to profit-taking, optimism in the metals sector remained strong. “China’s move to curb steel overcapacity and possible improvement in US-China trade relations lifted sentiment. PSU banks also gained on reports of a potential rise in FII holding limits,” he added.
Nair further noted that buying interest at lower levels continues to show strong underlying confidence among investors, with expectations of an earnings upgrade for Indian companies in the coming quarters.
8 Stocks to Buy Today
Market experts have shared their top stock recommendations for today’s trade, focusing on technically strong setups with favorable risk-reward ratios.
Sumeet Bagadia’s Picks (Choice Broking)
1. Indian Bank (₹853 | Target ₹913 | Stoploss ₹823)
Indian Bank continues its strong uptrend, forming higher highs on the chart. With heavy volumes and new all-time highs, momentum remains bullish.
2. JSW Steel (₹1,184 | Target ₹1,268 | Stoploss ₹1,142)
JSW Steel broke out from a long consolidation with solid volumes. The trend remains robust as the stock trades at record highs, signaling sustained buying interest.
Ganesh Dongre’s Picks (Anand Rathi)
3. Nykaa (₹258 | Target ₹268 | Stoploss ₹252)
Nykaa has bounced from key support levels and is showing renewed strength. Traders can expect short-term gains as momentum builds up above ₹260.
4. Fortis Healthcare (₹1,060 | Target ₹1,100 | Stoploss ₹1,040)
Fortis has been consistently forming higher bottoms and showing strength. A move above ₹1,070 could trigger fresh buying.
5. Max Financial Services (₹1,518 | Target ₹1,570 | Stoploss ₹1,480)
The stock maintains strong support near ₹1,480 and is poised for a short-term rally toward ₹1,570, backed by bullish momentum indicators.
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Shiju Koothupalakkal’s Picks (Prabhudas Lilladher)
6. Jtekt India (₹159.25 | Target ₹170 | Stoploss ₹156)
After cooling off from its highs, Jtekt India has shown signs of recovery. A breakout above ₹160 could lead to further upside.
7. Vaibhav Global (₹239.90 | Target ₹254 | Stoploss ₹234)
The stock has rebounded from its 200-day moving average and is forming a higher bottom pattern, signaling strength in the short term.
8. Laurus Labs (₹959.65 | Target ₹1,010 | Stoploss ₹940)
Laurus Labs has broken above its recent resistance zone with rising RSI, hinting at continued upward momentum.
What’s Next for Markets?
Analysts expect the broader trend to remain positive but choppy until the US Fed’s commentary offers clarity on future rate moves. Domestic triggers like auto sales data and upcoming Q2 earnings from key companies could guide near-term direction.
For now, traders are advised to stay selective, focus on technically strong stocks, and maintain tight stop-loss levels given global uncertainties.
