Stock Market Today: Nifty 50 Outlook, Global Cues, Q1 Earnings in Focus, and Eight Stock Picks for Monday

Indian equity benchmarks ended the week on a cautious note, with the Nifty 50 closing at 24,837.00—down nearly half a percent. In contrast, the Bank Nifty saw a modest gain to settle at 56,528.90. Among sectoral performers, Healthcare emerged as a notable gainer, while Realty, FMCG, and IT sectors faced selling pressure. Broader market indices underperformed, with the mid-cap and small-cap indices registering sharp declines between 1.85% and 3.51%.

Technical indicators suggest that the 24,600–24,550 zone will serve as immediate support for the Nifty. A decisive break below 24,550 could trigger a correction toward the 24,200 mark. On the upside, resistance is expected between 25,100 and 25,150, according to Sudeep Shah, Vice President and Head of Technical and Derivative Research at SBI Securities. For the Bank Nifty, the 57,300–57,400 range continues to pose a significant resistance barrier, limiting bullish momentum.

As the new trading week begins, market participants are bracing for heightened volatility amid the scheduled expiry of July derivatives contracts and a series of key domestic economic data releases, including Industrial Production (IIP), HSBC Manufacturing PMI, and monthly auto sales. On the global front, traders are closely monitoring the U.S. Federal Reserve’s upcoming interest rate decision, GDP growth figures, and updates on trade negotiations ahead of the August 1 tariff deadline announced by former U.S. President Donald Trump—factors that could influence foreign institutional investor (FII) flows, noted Ajit Mishra, SVP of Research at Religare Broking.

Earnings season will also take center stage, with results from several large-cap companies including IndusInd Bank, Asian Paints, NTPC, Tata Steel, Hindustan Unilever, Mahindra & Mahindra, Maruti Suzuki, Sun Pharma, and ITC expected to provide valuable insights into sectoral performance and business resilience.

Meanwhile, technical analysts and market strategists have identified a set of eight stocks for potential intraday trading opportunities on Monday. Sumeet Bagadia, Executive Director at Choice Broking, recommends buying Torrent Pharmaceuticals Ltd. at around ₹3,605 with a stop loss at ₹3,480 and a target of ₹3,880. The stock recently broke out of a long consolidation phase and continues to exhibit strong bullish momentum. Bagadia also suggests buying Syrma SGS Technology Ltd. at ₹728.15, setting a stop loss at ₹700 and aiming for a target of ₹785, citing a sharp breakout with rising volume and favorable EMA alignment.

Ganesh Dongre, Senior Manager of Technical Research at Anand Rathi, has recommended three stocks for the session. He suggests buying National Aluminium Company Ltd. at ₹194 with a stop loss at ₹185 and a target of ₹205, highlighting its bullish trend and support base. Dongre also recommends DLF Ltd. at ₹826 with a stop loss at ₹810 and a target of ₹865, as well as Marico Ltd. at ₹695 with a stop loss at ₹685 and a target of ₹735, both stocks showing strong technical setups and potential for upside.

Shiju Koothupalakkal, Senior Manager at Prabhudas Lilladher, adds three more picks to the list. He advises buying Shyam Metalics and Energy Ltd. at ₹969 for a target of ₹1,030 with a stop loss at ₹950, citing a breakout above key resistance and rising RSI. Laxmi Organic Industries Ltd. is recommended at ₹205.70 with a target of ₹217 and a stop loss at ₹200, supported by a breakout above a triangular pattern and positive momentum. Lastly, Tourism Finance Corporation of India Ltd. is seen as a buy at ₹291.50 with a target of ₹310 and a stop loss at ₹285, as the stock resumes its uptrend after a brief consolidation, with technical indicators suggesting continued strength.

With critical data and earnings on the horizon, along with key global developments, investors are advised to tread cautiously while remaining alert for short-term trading opportunities.