The Indian stock market demonstrated strong resilience on Monday, February 2, with the Sensex jumping 944 points, or 1.17%, while the Nifty 50 closed at 25,088.40, gaining 263 points, or 1.06%. According to reports from Mint, this performance came despite concerns over the rise in Securities Transaction Tax (STT) on F&O announced by Finance Minister Nirmala Sitharaman in her Budget 2026 speech. With the Budget over, markets' focus is back on fundamentals, though experts warn of potential volatility due to mixed Q3 earnings and evolving geopolitical scenarios. On the technical front, experts believe the Nifty 50 may find support at 25,000 and 24,900 in case of a downside, as long as it remains below the 200-SMA near 25,250.
Market experts Vishnu Kant Upadhyay of Master Capital Services and Aakash Shah of Choice Equity Broking have identified six stocks for short-term investment opportunities. According to reports from Mint, Upadhyay recommends Mishra Dhatu Nigam (MIDHANI) at ₹356 with target prices of ₹395 and ₹405, while Shah suggests NMDC at ₹81.44 with a target of ₹87.68. Other recommendations include Jindal Saw at ₹177 with targets of ₹196 and ₹200, Alivus Life Sciences at ₹922 targeting ₹990 and ₹1,020, Samvardhana Motherson International at ₹114.09 with a target of ₹124, and Welspun Corp at ₹755 aiming for ₹850.
As reported by Mint, Upadhyay's analysis shows MIDHANI shares are showing early signs of bullish reversal with strong price expansion, having reclaimed short-term EMAs and attempting to move above medium-term moving average clusters. For NMDC, Shah notes the stock is showing reversal from key support levels with RSI at 52.05 trending upward, while Samvardhana Motherson has rebounded from key support near its 200-day EMA. The recommendations include specific stop-loss levels ranging from ₹324 for MIDHANI to ₹109.70 for Samvardhana Motherson, with target prices varying based on technical indicators and price action patterns.
According to reports from Mint, as market sentiment remains cautious, experts emphasize that short-term investors should focus on stocks with favorable technical indicators. The analysis suggests that while the market may see volatility due to mixed Q3 earnings and geopolitical scenarios, these technical picks offer potential for profitable returns amid current market conditions. The recommendations are based on specific technical patterns including breakout patterns, volume analysis, and momentum indicators across different timeframes, providing investors with multiple options for short-term trading opportunities.
