The Indian benchmark indices closed mixed on Wednesday, with Sensex rising 64.42 points or 0.09% to close at 73,983.18, while Nifty 50 settled 27.15 points or 0.12% lower at 23,214.95. According to Mint, the indices closed significantly off their day's highs amid escalating geopolitical tensions. Gift Nifty was trading around 23,198 level, indicating a negative start for Thursday's session with a discount of nearly 42 points from the Nifty futures' previous close. The mixed performance reflects ongoing market uncertainty as traders navigate global headwinds including the latest US-Iran war escalation and rising crude oil prices.
Market expert Raja Venkatraman from NeoTrader recommends JBCHEPHARM as a buy opportunity at the current market price of ₹2,252.70. The pharmaceutical company operates in research, manufacturing, and marketing of diverse pharmaceutical formulations, herbal remedies, and Active Pharmaceutical Ingredients (APIs). As reported by Mint, the stock has shown steady upward movement after consolidation, with volume-led price rises and a long body candle formation indicating potential upward revival in the Relative Strength Index (RSI). Key metrics include P/E ratio of 54.04, 52-week high of ₹2,284.95, and volume of 395.80K. The technical analysis shows support at ₹2,100 and resistance at ₹2,500, with a buy recommendation above ₹2,258 and stop loss at ₹2,165, targeting ₹2,390 over two months.
Venkatraman also recommends PIDILITIND at the current market price of ₹1,498.80. According to Mint reports, the adhesives and specialty chemicals manufacturer is showing steady revival trends with recent consolidation at higher levels indicating potential upward bias. The rising Relative Strength Index suggests a rebound attempt, while the strong breakout above recent ranges has been supported by encouraging Q4 financial numbers. Key metrics include P/E ratio of 64.04, 52-week high of ₹782, and volume of 613.28K. The technical analysis shows support at ₹1,400 and resistance at ₹1,800, with a buy recommendation above ₹1,555, stop loss at ₹1,530, and target price of ₹1,605 over two months.
Asian markets traded lower on Thursday following the latest US attacks on Iran, with Japan's Nikkei 225 declining 2.3% and South Korea's Kospi tanking 4.1%. According to Mint, crude oil prices rallied significantly as Iran declared the Strait of Hormuz closed, with Brent futures jumping 2.47% to $95.40 per barrel and US WTI crude gaining 2.89% to $92.63 per barrel. Market expert Ajit Mishra from Religare Broking notes that lingering geopolitical tensions and persistent foreign fund outflows are keeping participants cautious, suggesting that meaningful relief rallies may remain elusive in the near term. In this environment, traders are advised to prefer pharma, healthcare, and banking stocks on the long side while maintaining selective short positions as a hedge against overnight risks.
