Stock market today: Nifty levels to watch; trading views on Paytm, Grasim & Muthoot Finance

Indian benchmark indices managed to post mild gains on Tuesday, extending the gains for the seventh straight session. However, profit booking at the higher levels weighed on the market sentiments. However, trade policy between the US and India may keep investors cautious. BSE Sensex added 32.81 points, or 0.04 per cent, to end the session at 78,017.19. NSE's Nifty50 rose 10.30 points, or 0.04 per cent, to settle at 23,668.65 for the day.

The near-term uptrend of Nifty remains intact and the present consolidation or dip is unlikely to damage the underlying uptrend of the market, said Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities. "Immediate support to be watched around 23,400 and any consolidation or minor weakness could be a buying opportunity. A decisive move above 23,900 could open further upside towards 24,200 levels," he said.

Some buzzing stocks including Grasim Industries Ltd, One 97 Communications Ltd (Paytm) and Muthoot Finance Ltd are likely to remain under the spotlight of traders for the session today. Here is what Vishnu Kant Upadhyay, AVP – Research & Advisory at Master Capital Services has to about these stocks ahead of Wednesday's trading session:

Grasim Industries | Buy | Target Price: Rs 2,735-2,770 | Stop Loss: Rs 2,398

Grasim has decisively formed a double bottom reversal pattern and confirmed the breakout, signaling a strong bullish trend. The stock is comfortably trading above its 21- and 55-period EMAs, reinforcing the positive momentum and attracting renewed buying interest. Furthermore, the RSI remains above 60, highlighting sustained strength and upward potential. With the stock holding firm above the breakout zone, the setup favors further upside. Prices are currently trading above the cluster of key moving averages, indicating further upward journey towards Rs 2,735 and then Rs 2,770. Traders should watch for continued strength as long as key support level Rs 2,398 remains intact.

One 97 Communications | Buy | Target Price: Rs 845-860 | Stop Loss: Rs 718

Paytm, which had been in a prolonged downtrend, is now showing strong signs of a trend reversal. The stock has formed an inverse head & shoulders pattern—a classic bullish setup—indicating a potential shift in momentum. A surge in trading volumes further confirms buyer interest, while the formation of higher highs and higher lows reinforces the emerging uptrend. Additionally, the stock has successfully reclaimed the 21- and 55-period EMAs, signalling renewed strength. The RSI hovering around 60 reflects growing bullish momentum, and the breakout is well-supported by rising volumes, highlighting strong market participation.

Muthoot Finance | Buy | Target Price: Rs 2,540 | Stop Loss: Rs 2,200

Prices of Muthoot Finance have been exhibiting a strong upward trajectory, recently taking support near its crucial breakout point, reinforcing the potential for continued upside. The stock has consistently formed higher highs and higher lows, indicating a well-established bullish trend backed by sustained buying interest, as reflected in rising volumes. Prices are currently trading above the cluster of key moving averages including 21, 55, 100, and 200-day EMAs. With the stock comfortably positioned above its key moving averages and maintaining a robust positive trend, it is well-poised to outperform in the near term, with upside potential towards Rs 2,540 and above.