Stock Market Today: Bouncing out of consolidation zone, the benchmark Nifty-50 index for the week ending 16 May 2025, ended 4.2% higher week on week. The Bank Nifty at 55,354.90 also ended 3.3% higher, while Metals, Industrials and Realty were among top gainers though Pharma and Health care underperformed. In the broader markets mid and small caps ended 7-9% higher.
Trade Setup for Monday
For the Nifty-50 Index on the downside, 24,665 and 24,400 would act as key support levels, while 25,100 could serve as an immediate resistances. A successful breakout above these levels could push the market toward 25,500 and if the index falls below 24,400, the uptrend could become vulnerable, said Amol Athawale, Vice-President Technical Research, Kotak Securities.
For Bank Nifty, as long as it is trading above 54,400 level, the positive momentum is likely to continue and could retest 56,000, said Athawale.
Global Markets and Q4 Results
With no major global or domestic events scheduled, market focus is expected to shift towards domestic earnings and high-frequency economic data for directional cues. Updates on global trade deals and their impact on global markets will also be closely tracked.Participants will continue to monitor foreign capital flows, which have played a significant role in sustaining the current rally, said Ajit Mishra – SVP, Research, Religare Broking Ltd.
On the corporate earnings front, several prominent companies, including ONGC, ITC, Hindalco, JSW Steel, and Power Grid, are set to announce their quarterly results, which could influence near-term market trends.
Stocks to buy today
Sumeet Bagadia, Executive Director at Choice Broking, has recommended two stock picks for today, while Shiju Koothupalakkal, Senior Manager — Technical Research, at Prabhudas Lilladher has given two stock picks.
These Include Medplus Health Services Ltd , Data Patterns (India) Ltd , Ideaforge Technology Ltd, Housing & Urban Development Corporation Ltd (HUDCO) and TVS Motor Company Ltd
Sumeet Bagadia’s stock picks
1.Medplus Health Services Ltd– Bagadia recommends buying Medplus Health Services at ₹885 keeping Stoloss at ₹855 for a target price of ₹950
MEDPLUS has delivered an impressive up move, currently trading at a 52 week-high of 894.8 levels. and registering its highest closing in over four months. This surge in the stock continue to delivered a strong bullish momentum supported by steadily rising volumes and improving technical structure. The recent breakout above its consolidation zone between ₹800 and ₹850 has delivered a powerful breakout is a sign of bullish alignment.
2. Data Patterns (India) Ltd– Bagadia recommends buying Data Patterns or DATAPATTNS at ₹2868 keeping Stoploss at ₹2765 for a target price of ₹3060
DATAPATTNS is currently trading at 2868. The rally was backed by strong volumes and a sharp bullish candle. With this up move, the stock has now advanced more than 100% from its April lows, confirming a strong trend reversal. The stock has formed a clean break out from the resistance zone near ₹2,650 levels, and it is now trading firmly above all key exponential moving average
Shiju Koothupalakkal intraday stocks for today
3. Ideaforge Technology Ltd– Koothupalakkal recommends buying Ideaforge Technology or IDEA FORGE at around ₹560 for a target price of ₹600 keeping Stop loss at ₹545
The stock recently after witnessing a steep rise has indicated a flag pattern breakout on the daily chart and has breached above the important 200 period MA at ₹554 level to further strengthen the trend anticipating for fresh upward move in the coming sessions. The RSI is maintained strong and can carry on with the positive move further ahead. With the chart looking good, we suggest buying the stock for an upside target of ₹600 keeping the stop loss of ₹545 level.
4. Housing & Urban Development Corporation Ltd (HUDCO)- Koothupalakkal recommends buying HUDCO at around ₹233.80 for a Target price of ₹247 keeping Stop loss ₹228
The stock after a short period of correction has once again gained momentum taking support near the important 50EMA level at ₹212 zone and currently indicating a bullish candle pattern has moved past the significant 200 period MA at ₹229 level to further improve the bias. The RSI has cooled off from the highly overbought zone and is well placed, once again indicating a positive trend reversal has signaled a buy and can carry on with the positive move further ahead. With the chart technically looking good, we suggest buying the stock for an upside target of ₹247 level keeping the stop loss of ₹228 level.
5.TVS Motor Company Ltd– Koothupalakkal recommends buying TVS MOTOR at ₹2841 for a target price of ₹2960 keeping Stop loss at ₹2790
The stock after witnessing a short period of consolidation, indicated a triangular pattern breakout above ₹2800 zone with a bullish candle formation on the daily chart to further improve the bias expecting for extended gains in the coming sessions. The RSI indicator has once again signaled a buy with a positive trend reversal to anticipate for another fresh round of upward move. With the chart technically well positioned, we suggest buying the stock for an upside target of ₹2960 level keeping the stop loss of ₹2790 level.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decisions.
