Stock market today: Nifty levels to watch; trading views on Tata Motors, Jio Financial & BDL

Indian stock markets were back in green on Thursday on the back of positive FIIs inflows and buying in the beaten down counters. However, trade tariff concerns continue to weigh on the sentiments of the investors. BSE Sensex surged 317.93 points, or 0.41 per cent to settle at 77,606.43 for the day, while NSE Nifty50 index advanced more than 105.10 points, or 0.45 per cent to end the session at 23,591.95.

 

Nifty remained sideways throughout the day after a strong opening. Option position buildup also indicated an expiry around 23,600, said Rupak De, Senior Technical Analyst at LKP Securities. "It found support near the 100 EMA. The near-term sentiment may remain positive, with a potential move toward 23,800; if it sustains above 23,600. Support is placed at 23,400," he said.

 

Some buzzing stocks including Tata Motors Ltd, Jio Financial Services Ltd and Bharat Dynamics Ltd (BDL) are likely to remain under the spotlight of traders for the session today. Here is what Aashish Shetty, Research Analyst- Technical at Axis Securities has to about these stocks ahead of Friday's trading session:

 

Jio Financial Services | Resistance: Rs 238.50-253 | Support: Rs 198.70

Jio Financial Services has established a near-term support level at Rs 198.70. For a bullish trend confirmation, the stock needs to break and sustain above its previous lower high of Rs 238.50. A decisive breakout above this level could trigger a rally, with key overhead resistance levels at ₹253 and ₹281. If the upward momentum manages to surpass these resistance points, the stock has the potential to retest its all-time high.  

 

Tata Motors | Resistance: Rs 717 | Support: Rs 606

Tata Motors has established a near-term bottom at Rs 606.30, followed by a rally that encountered resistance at the Rs 717 level—a classic example of previous support turning into resistance. A strong breakout and sustained close above Rs 717 will be crucial to confirm a bullish trend and signal further upward momentum.  

 

Bharat Dynamics | Resistance: Rs 1,247 | Support: Rs 902

Bharat Dynamics has formed a double bottom at Rs 902, followed by a period of sideways movement, demonstrating relative strength compared to the broader index. Recent price action has shown bullish Ichimoku signals, with the stock closing at Rs 1,247 above the cloud—a strong indicator for a potential buy. This breakout positions the stock for a rally, with the potential to retest its all-time high.