Trade setup for Nifty 50, Infosys, Wipro Q2 results, to gold prices; 8 stocks to buy

By Admin

16 Oct, 2025

The Indian stock market continued its upward momentum on Wednesday, buoyed by optimism over declining crude oil prices, improved global cues, and expectations of a possible rate cut from the Reserve Bank of India (RBI). The Sensex surged 575 points to close at 82,605, while the Nifty 50 climbed 178 points to settle at 25,324, marking a strong rebound after recent volatility.

Market Overview: Optimism Returns

The rally was driven by Bajaj Finance, Bajaj Finserv, L&T, Asian Paints, and Nestle India, which each gained up to 4%. However, IT stocks like Infosys and Tech Mahindra saw marginal declines following their Q2 earnings announcements. The sentiment was further supported by a dip in US Treasury yields and a fall in crude oil prices below $78 per barrel, easing inflation concerns and strengthening market confidence.

According to Abhinav Tiwari, Research Analyst at Bonanza, inflation touching an eight-year low of 1.54% has bolstered hopes of an RBI rate cut in December, particularly benefiting sectors like real estate, banking, and automobiles.

Trade Setup for Thursday: Key Levels to Watch

Rupak De, Senior Technical Analyst at LKP Securities, noted that the Nifty 50’s rise above the 25,250–25,300 resistance zone confirms strong bullish momentum. The index is now trading comfortably above its 21-day EMA (25,061), indicating continued strength.

• Resistance levels: 25,500–25,600
  
  

• Support levels: 25,250; a drop below could trigger short-term correction.
  
  

Global Market Influence and Q2 Results Impact

Vinod Nair, Head of Research at Geojit Investments, mentioned that a dovish stance from the US Federal Reserve and signs of halting quantitative tightening have lifted global market sentiment. The decline in the US 10-year bond yield and appreciation of the Indian rupee have also encouraged foreign institutional investors to return to emerging markets like India.

The real estate sector outperformed on the back of attractive valuations and lower interest rate expectations, while IT and Metal indices benefited from favorable global signals.

Stocks to Buy Today: Expert Recommendations

Market analysts from Choice Broking, Anand Rathi, and Prabhudas Lilladher shared their top intraday stock picks for investors seeking short-term gains.

Sumeet Bagadia (Choice Broking)

1. Intellect Design Arena Ltd
   
   

• Buy at: ₹995 | Target: ₹1,070 | Stop-loss: ₹950
  
  

• The stock is forming higher highs and higher lows, supported by buying near its 200-day EMA at ₹965. A breakout above ₹1,020 could drive further upside.
  
  

2. Oil India Ltd
   
   

• Buy at: ₹423 | Target: ₹450 | Stop-loss: ₹409
  
  

• The stock shows steady upward momentum with consistent buying volumes. A breakout above ₹426 could lead to gains toward ₹450.
  
  

Ganesh Dongre (Anand Rathi)

3. Asian Paints Ltd
   
   

• Buy at: ₹2,375 | Target: ₹2,500 | Stop-loss: ₹2,300
  
  

• The stock has rebounded from strong support at ₹2,300, reflecting bullish sentiment and potential for a near-term retracement.
  
  

4. Lupin Ltd
   
   

• Buy at: ₹1,940 | Target: ₹1,980 | Stop-loss: ₹1,910
  
  

• Lupin continues its bullish trend, reversing from a strong support zone, suggesting further upside potential.
  
  

5. Aditya Birla Capital Ltd
   
   

• Buy at: ₹304 | Target: ₹320 | Stop-loss: ₹290
  
  

• The stock has shown renewed strength after consolidation, backed by a favorable technical setup for short-term gains.
  
  

Shiju Koothupalakkal (Prabhudas Lilladher)

6. Paradeep Phosphates Ltd
   
   

• Buy at: ₹179.50 | Target: ₹192 | Stop-loss: ₹175
  
  

• After correction, the stock is stabilizing with bullish volume and RSI signaling a positive trend reversal.
  
  

7. One 97 Communications Ltd (Paytm)
   
   

• Buy at: ₹1,277 | Target: ₹1,330 | Stop-loss: ₹1,250
  
  

• Paytm has broken out of its consolidation phase, backed by strong volume and bullish momentum.
  
  

8. CG Power and Industrial Solutions Ltd
   
   

• Buy at: ₹757 | Target: ₹795 | Stop-loss: ₹740
  
  

• The stock is forming a bullish candle pattern after prolonged consolidation, suggesting a potential breakout.
  
  

Outlook Ahead: RBI Policy and Festive Boost

With inflation cooling and crude oil prices stabilizing, expectations are high for an RBI rate cut in December, which could further fuel domestic demand and boost equities. The upcoming Samvat 2082 season may also see renewed investor participation as global headwinds ease and corporate earnings show resilience.

As markets enter a crucial phase ahead of the festive quarter, analysts believe interest-sensitive sectors and fundamentally strong midcaps could outperform, while traders should continue monitoring global cues, Q2 results, and RBI policy developments.