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The Indian stock market ended higher on Wednesday. Nifty 50 closed 0.50% higher at 23,446, while the Sensex advanced 0.40% to 74,828. Despite the uptick, overall sentiment remained cautious, weighed down by geopolitical uncertainties and persistent foreign investor outflows. Three stocks to trade, recommended by NeoTrader’s Raja Venkatraman: IKS (Cmp 1937.80) - Why it’s recommended: Inventurus Knowledge Solutions Ltd. (operating as IKS Health) is a technology-enabled healthcare solutions provider and care enablement platform founded in 2006. After some consolidation seen since last few weeks the last two sessions has seen a strong recovery that has led to some value area supports around the Kumo cloud that is holding back the decline. In the process we are noticing that some buying interest also develop. Also, the services sector is seen reviving and in the last month has performed well. With the Average Directional Index after a pullback is seen crossing important thresholds, it can lead to some strong upward move in the coming weeks. Go long. - Key metrics: - P/E Ratio : 53.63, - 52-week high: ₹1933.75, - Volume: 1.01M - Technical analysis: Support at ₹1700, resistance at ₹2300. - Risk factors: Credit rating assessments, and Draft Red Herring Prospectus (DRHP), center around geographic concentration, data security, M&A integration, and regulatory dynamics. - Buy: above ₹1940. - Stop loss: ₹1865. - Target price: ₹2100 (2 Months) MOTILALOFS (Cmp 1042.50) - Why it’s recommended: Motilal Oswal Financial Services Limited (MOFSL) is a prominent diversified financial services group in India, headquartered in Mumbai. The steady upward traction in this counter after some profit booking is seen helping the prices are moving higher forming higher lows and the strong action with volumes seen on Monday highlights some potential for upmove. A move from the value area region around 970-980 zone holding good indicates that we can expect the upward drive to continue. - Key metrics: - P/E Ratio: 27.87, - 52-week high: ₹1121.95, - Volume: 1.61M. - Technical analysis: Support at ₹670, resistance at ₹900. - Risk factors: Revenue cyclicality, F&O regulatory tightening and seasoning of lending entities. - Buy: above ₹1045 - Stop loss: ₹990 - Target price: ₹1165 (2 Months) VIJAYA (Cmp 1570.70) - Why it’s recommended: Vijaya Diagnostic Centre Limited is a leading integrated diagnostic chain in India that offers comprehensive pathology and radiology testing services under one roof. The recent recovery after dips into the strong support region around the Tenkan Sen and Kijun Sen with volumes signal a potential revival. The sustained consolidation and then an upmove looks to be a pattern that is developing. With the Chikou Span getting into the clear the trends are showing some promise of upside. As the prices indicating a potential to move higher with a long body candle, we can now look for some positive vibes to extend. - Key metrics: - P/E: 84.23, - 52-week high: ₹1593.60, - Volume: 209.30K. - Technical analysis: Support at ₹1470, resistance at ₹1825. - Risk factors: Margin compression , gig worker legislation and multi-vertical strain. - Buy: above ₹1575 - Stop loss: ₹1429 - Target price: ₹1725 (2 Months) Stock Market Recap Nifty 50 closed 0.50% higher at 23,446, while the Sensex advanced 0.40% to 74,828 on Wednesday. Despite the uptick, overall sentiment remained cautious, weighed down by geopolitical uncertainties and persistent foreign investor outflows. Metals led the rally, with JSW Steel surging 2.54% to ₹1,299.20, Tata Steel rising 2.48% to ₹189.56, and Hindalco gaining 2.19% to ₹994.30. Bajaj Finance added 2.12% to ₹1,030.20, while Larsen & Toubro rose 1.90% to ₹3,939.70, rounding out the top performers on the Nifty. On the downside, Titan slipped 1.01% to ₹4,878.50, Coal India fell 0.85% to ₹424.35, and Cipla eased 0.75% to ₹1,373.70. IT majors Infosys and TCS also traded lower, shedding 0.67% and 0.61% respectively. Outlook for Trading Bank Nifty has been weaker in comparison to Nifty, and the sustained bearish pressure seen on every rally indicates that it is inclined for some downward bias as the trends are unable to head higher. While sector rotation is happening, we are reaching a point where the indices have become divergent. HDFC Bank has been under great deal of stress post its Q1 numbers and finally after a while its showing on the Bank Nifty as well. The stock could not impact the market condition much; however, the trends were expected to head into the upper end of the value resistance zone as the indicators were tiring out. The rise witnessed in Bank Nifty is seen struggling as the attempt to hold on is seen fizzling out as bearish pressure is emerging at higher levels. Currently , due to lack of triggers we are witnessing a ranging action that could keep the trends from recovering swiftly. Today, we will take a look at Nifty to help us connect the market with the trends in play. While there is a lack of participation in Nifty, the stocks are much more vibrant and steadily fuelling the bullish enthusiasm. Overall, the charts below indicate that prices have slipped into consolidation, and the CS is now facing a challenge at this juncture. As we continue to maintain, the move beyond 23600 would once again attract some strong bullishness. Till then, at the current juncture, we can see that the higher levels are being used to short into. In Bank Nifty one should continue to maintain a move below 560800 on Bank Nifty spot would be a crucial , at higher levels 56500 would be a significant level to watch out for. Bank Nifty is a sector that should be tracked. Until 54500 is exceeded, we could look at stock-specific action where there are divergent views being displayed across all the component stocks. PSU Banks and private banks are working slowly, and the erratic vibes from the private sector are being exhibited, making it difficult for the Bank Nifty to recover. This in turn will spill over to the other sectors like Auto, Realty and Finance. Despite markets remaining muted the sustained showing in select sectors would continue to attract some bullish momentum. some prowess of a recovery the inability of Bank Nifty to clear the 57000 mark seems limited in this week. Till then, this index holds the key for some trends to emerge. The current market setup has shifted into a more unplanned scenario, with the Nifty struggling to clear the immediate resistance at 23,600. This level not only represents a key barrier for any bullish revival but also aligns with the max pain point, which continues to cap upward momentum. Open Interest data reinforces the presence of hurdles at higher levels, suggesting limited progress unless a decisive breakout occurs. Traders should closely monitor Thursday’s 30‑minute range, as a sustained move above this threshold could provide the trigger for fresh long positions. Raja Venkatraman is co-founder, NeoTrader. His Sebi-registered research analyst registration no. is INH000016223. Investments in securities are subject to market risks. Read all the related documents carefully before investing. Registration granted by Sebi and certification from NISM in no way guarantees performance of the intermediary or provide any assurance of returns to investors. Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before making any investment decisions.
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