Stock market today: The Indian stock market is expected to begin Wednesday’s session with a mildly positive yet cautious bias, supported by steady global cues and resilient domestic fundamentals, while holiday-thinned volumes help contain volatility. With most global markets operating amid holiday-thinned liquidity ahead of Christmas, participation is likely to remain selective, favouring consolidation rather than aggressive directional moves. Risk sentiment remains stable, reflected in subdued volatility levels, indicating that the market is in a pause phase rather than a distribution phase.
Stock market today
Speaking on the outlook of the Nifty 50 index, Ponmudi R, CEO of Enrich Money, said, “From a trend perspective, the Nifty 50 continues to trade within a healthy rising channel, holding comfortably above its key moving averages. Current price action suggests a consolidation or breather phase just below the resistance level, which is typical after a strong upward move. Immediate support is placed at 26,100, backed by notable put open interest, while the 26,000–25,950 zone—aligned with the 20-day EMA and a key psychological level—forms a strong demand base. As long as Nifty sustains above 26,000 on a closing basis, the near-term outlook remains mildly bullish, favouring a buy-on-dips approach. On the upside, 26,200–26,300 remains a supply zone, and repeated inability to clear this band could extend sideways consolidation before the next directional move emerges. “
On the outlook of the Bank Nifty index, Parekh said, “The Bank Nifty is expected to trade in a range-bound to mildly cautious tone, reflecting slower momentum compared with the broader index. The index continues to hold above its short-term supports, keeping the overall structure intact, though upside has been capped by persistent call writing in the 59,400–59,500 zone. Options positioning highlights 59,400–59,500 as a critical intraday pivot band, with strong put support near 59,000–59,100. A slip below 59,200 could invite a retest of the 59,000 support area, while a sustained close above 59,500 would be required to improve bullish momentum. Sectorally, PSU banks are providing relative stability, while private lenders consolidate after recent outperformance—pointing to rotation rather than weakness.”
Global markets today
Asian shares advanced on Wednesday, capping a year of brisk artificial intelligence-driven gains, while commodities such as gold and silver extended their bullish run to new all-time highs as 2025 draws to a close.
Overnight on Wall Street, the S&P 500 notched a closing record as the elusive Santa Claus rally finally set in. U.S. data showing the economy expanded at a much faster-than-expected clip in the third quarter boosted risk sentiment but weighed on bonds.
Japan’s Nikkei rose 0.4% and was up 26% this year. South Korea outperformed the rest of Asia for the year with a meteoric surge of 72%.
Gold, silver prices today
Gold and silver were again the big movers in early Asian trade. Spot gold prices climbed 0.8% to another all-time high of $4,524 per ounce, bringing the gain for this year to 72%. Silver jumped 1.2% to a record $72.27 per ounce, and was set for an annual rise of almost 150%, its best year ever.
Stock market today
Regarding stocks to buy today, stock market experts — Sumeet Bagadia, Executive Director at Choice Broking; Ganesh Dongre, Senior Manager of Technical Research at Anand Rathi; and Shiju Kuthupalakkal, Senior Manager of Technical Research at Prabhudas Lilladher, recommended these eight intraday stocks for today: HCL Technologies, UPL, JSW Infra, Sarda Energy & Minerals, Syrma SGS Technology, Coforge, Axis Bank, and Prestige Estates.
Sumeet Bagadia’s stock recommendations today
1] HCL Technologies: Buy at ₹1679.90, Target ₹1780, Stop Loss ₹1625.
HCLTECH is currently trading at ₹1,679.90 and is exhibiting a strong bullish reversal from key support levels. The stock has formed a short-term rounding bottom pattern and is also maintaining a higher high–higher low structure, both of which signal a continuation of upward momentum. A decisive breakout above the ₹1,700 mark, especially if accompanied by substantial volumes, could act as a trigger for a near-term rally toward ₹1,780 and potentially higher levels.
Technical indicators continue to support the bullish bias. The RSI stands at 60.83 and is trending upward, indicating strengthening momentum and improving buying interest without showing signs of overbought conditions. Additionally, the stock is trading well above its 20-day, 50-day, and 200-day exponential moving averages, confirming a robust and well-established uptrend across multiple timeframes.
On the downside, immediate support is placed near ₹1,650, which may offer a buy-on-dips opportunity. Traders may consider accumulating the stock near ₹1,679.90 with a stop-loss at ₹1,625. A sustained breakout above ₹1,700 could pave the way for ₹1,780 and beyond, providing a favourable risk–reward setup for positional traders.
2] UPL: Buy at ₹781, Target ₹850, Stop Loss ₹745.
UPL is currently trading around ₹781 and is showing renewed strength after successfully holding above its previous breakout zone. The stock has resumed upward momentum with a strong bullish candle and continues to maintain a clear higher–high, higher–low structure on the daily chart. Price action remains comfortably above its key 20-, 50-, 100-, and 200-day EMAs, reflecting sustained buying interest and a positive medium-term trend. The broader structure suggests that the recent consolidation phase has helped the stock regain strength for the next leg of the move.
On the downside, immediate support is placed near ₹750, which coincides with a crucial demand zone and is likely to attract fresh buying interest on minor dips. This support zone adds to the bullish bias as long as prices remain above it. On the upside, the stock has decisively moved past its immediate resistance zone. It is now trending higher, indicating improving sentiment and potential for continuation towards higher levels in the near term.
Momentum indicators also support the positive outlook. The RSI is currently placed at 69.12, indicating healthy momentum without showing significant signs of exhaustion. Short-term traders may consider buying near current levels with a stop-loss placed at ₹745, targeting an upside of ₹850, provided they follow disciplined risk management and position sizing.
Ganesh Dongre’s shares to buy today
3] Coforge: Buy at ₹1775, Target ₹1825, Stop Loss ₹1730.
In the recent short-term trend analysis of the stock, a notable bullish reversal pattern has emerged. This technical pattern suggests a temporary retracement in the stock’s price, potentially reaching around ₹1825. Currently, the stock is maintaining a crucial support level at ₹1,730. Given the current market price of ₹1775, a buying opportunity is emerging. This suggests that investors consider purchasing the stock at its current price, anticipating a rise towards the identified target of ₹1825.
4] Axis Bank: Buy at ₹1225, Target ₹1275, Stop Loss ₹1190.
We have seen significant support in this stock around ₹1190. At the current juncture, the stock has again formed a reversal price action at the ₹1225 price level, which may continue its rally until its next resistance level of ₹1275. Therefore, traders can buy and hold this stock with a stop-loss of ₹1190 for a target price of ₹1275 in the upcoming weeks.
5] Prestige Estates: Buy at ₹1605, Target ₹1655, Stop Loss ₹1580.
The stock has exhibited a notable, strong bullish pattern, offering another promising opportunity for short-term traders. The stock is currently priced at ₹1605 and maintaining a strong support at ₹1580. The technical setup suggests a potential price retracement towards the ₹1655 level. With the stock reversing from a support base and showing signs of renewed strength, entering at the current market price with a stop-loss at ₹1580 offers a prudent approach to capturing the anticipated upside.
Shiju Kuthupalakkal’s intraday stocks for today
6] JSW Infra: Buy at ₹286.50, Target ₹305, Stop Loss ₹280.
The stock has corrected recently from the ₹342 zone and has stabilised near the 265 level to halt the slide. Having witnessed a decent pullback, with the current candle formation on the daily chart indicating a positive bullish pattern, moving above the 50-DEMA zone at ₹272 has improved the bias and can be anticipated to lead to further upward movement in the coming days. The RSI has recovered well from the highly oversold zone to signal a buy and is currently on the rise, indicating strength with upside potential visible. With the chart technically looking good and attractive, we suggest buying the stock with an upside target of ₹305, while keeping the stop loss at the ₹280 level.
7] Sarda Energy & Minerals: Buy at ₹530, Target ₹565, Stop Loss ₹518.
The stock has recently improved its bias, taking support near the ₹475 zone and having witnessed a decent pullback to move past the 200-period MA at the ₹501 level. It has further gained strength, moving past the 50-DEMA level at the ₹515 zone, anticipating a further rise in the coming sessions. The RSI is on the rise, gathering strength, and with much upside potential visible, can carry on with the positive move further ahead. With the chart technically looking good and attractive, we suggest buying the stock with an upside target of ₹565, while maintaining a strict stop-loss at the ₹518 level.
8] Syrma SGS Technology: Buy at ₹733.50, Target ₹780, Stop Loss ₹716.
The stock, after the decent correction, has taken support near the 705 level. It has indicated a pullback with volume spikes visible, which can improve the bias and anticipate a further rise in the coming sessions. The RSI has corrected well and has arrived near the oversold zone, indicating a positive trend reversal that signals a buy. With much upside potential visible and the chart technically looking attractive, we suggest buying the stock for an upside target of 780, keeping the stop loss at the ₹716 level.
Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
