Indian equity benchmarks closed higher on Thursday after a volatile session, with the Nifty 50 and Bank Nifty posting modest gains. Strength in Pharma and IT sectors, coupled with resilience in mid- and small-caps, kept sentiment positive ahead of major corporate earnings.
The National Stock Exchange’s benchmark index, Nifty 50, concluded Thursday’s trade at 24,596.15, a rise of 0.09%, after managing to reverse early weakness. The Bank Nifty closed 0.20% higher at 55,521.15, supported by steady gains in leading banking stocks.
Sector performance reflected a selective buying trend, with Pharma and Information Technology indices delivering strong gains that lifted overall market sentiment. Realty and Oil & Gas sectors, however, ended the day in negative territory. The broader market also participated in the recovery, with the Nifty Midcap 100 advancing by 0.33% and the Nifty Smallcap 100 gaining 0.17%.
The Nifty’s ability to maintain levels above 24,450 on a closing basis reflects underlying market strength. A sustained move beyond 24,800 in the coming sessions could set the stage for an advance toward the 25,000 milestone. In the banking space, the 55,100–54,900 range is expected to act as immediate support for Bank Nifty, while resistance is anticipated around 55,750–56,000.
Investors are now turning their attention to Q1 FY26 corporate results scheduled for release on Friday, with key announcements expected from SBI, Tata Motors, Siemens, Info Edge, and other prominent companies. Market participants will also be tracking developments in global trade discussions and India’s policy stance following the recent tariff escalation by the United States.
Also Read: Unexpected Dip Hits Nifty Midcap 150 with Sharp Moves in Sector Leaders
Stock Watch — 8 Intraday Trading Opportunities
A set of high-potential intraday trades emerged from Thursday’s market action:
- Avalon Technologies Ltd. — Buy at ₹955, Stoploss ₹918, Target ₹1,015. Breakout from consolidation supported by strong bullish candle formation.
- Kajaria Ceramics Ltd. — Buy at ₹1,263, Stoploss ₹1,220, Target ₹1,350. Clear upward breakout, moving beyond the key resistance zone.
- Tata Steel Ltd. — Buy at ₹159, Stoploss ₹155, Target ₹167. Strong support at ₹155 reinforces bullish momentum.
- SBI Cards and Payment Services Ltd. — Buy at ₹796, Stoploss ₹785, Target ₹815. Price rebound from support level indicates short-term upside.
- Jubilant FoodWorks Ltd. — Buy at ₹735, Stoploss ₹725, Target ₹755. Support-driven recovery with positive price structure.
- Ramkrishna Forgings Ltd. — Buy at ₹577.90, Stoploss ₹565, Target ₹605. RSI recovery and strong support near ₹550 point to trend reversal.
- Navkar Corporation Ltd. — Buy at ₹123.19, Stoploss ₹120, Target ₹130. Positive candle formation after pullback from 50EMA support.
- Torrent Power Ltd. — Buy at ₹1,357, Stoploss ₹1,325, Target ₹1,420. Pullback from oversold levels supports further upside potential.
The day’s closing levels and technical patterns suggest the market is positioned for selective strength, with opportunities concentrated in sectors showing clear momentum. The focus will remain on earnings announcements, sector rotations, and price action around the identified support and resistance levels.
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