Indian equity markets opened on a cautious note, but the Nifty held above 25,200 even as the escalating trade tensions between the US and China weighed on global market sentiment. Broad-based selling across IT, metals, real estate, and PSU banks led the decline. 

At 09:50 a.m. IST, the Nifty 50 traded 59 points lower at 25,225, while the Sensex was down 230 points at 82,270. Broader markets mirrored the weakness, with the Nifty Midcap index falling 0.2%, and the Smallcap index declining 0.4%.

The retail sentiment on Stocktwits for the Nifty was 'bullish' at market open. 

Stock Watch

HCL Technologies traded lower ahead of its Q2 earnings report scheduled for post-market hours today.

Tata Motors fell 2%. This would be the last day to buy consolidated stock ahead of the record date for demerger set for October 14.

Mahindra Lifespace gained 2% after being selected for a ₹800 crore redevelopment project in Mumbai's Malad. It has also bought 13.46 acres in Pune with a ₹3,500 crore potential.

Avenue Supermarts (DMart) shares fell 2% on subdued Q2 earnings performance. While Waaree Renewable surged 11% after its Q2 profit surged 117.4%, along with a 47.7% jump in revenues. 

BLS International shares fell 12% after the company was debarred from MEA tenders for two years

KFin Technologies rose over 3% following an upgrade from Citi.

Stock Calls

Analyst Vinayak Gautam shared three stock recommendations for Monday with a 1-week timeframe:

UTI AMC: Buy at ₹1,311, with a target price of ₹1,370, and a stop loss at ₹1,280

CAMS: Buy at ₹3,860, with a target price of ₹3,940, and a stop loss at ₹3,815

Mahindra Life: Buy at ₹369, with a target price of ₹387, and a stop loss at ₹362

Mayank Singh Chandel noted that Polycab saw a sharp fall from its all-time high of around ₹7,590 in December 2024, slipping down to ₹4,567. From there, strong buying demand kicked in, and the stock bounced back sharply, moving close to its previous highs. He said that aggressive traders can look to enter at current levels to ride the ongoing momentum. On the other hand, conservative traders can wait for a healthy pullback near the 50 EMA for a more comfortable entry.

Vinay Taparia said Balu Forge stock is looking good and can move to ₹800-₹870 in the short term, with ₹620 acting as a good support on the downside. But a close below ₹600 negates this view.

Markets: The Road Ahead

From a technical standpoint, SEBI-registered analysts on Stocktwits shared the trade setup. 

Prabaht Mittal identified Nifty support at 25,100 with resistance at 25,420. For Bank Nifty, he sees support at 56,300 and resistance at 57,000.

Global Cues

Globally, Asian markets traded weak, while crude oil prices rebounded from a five-month low as hopes of potential talks between the US and China on easing the trade tensions.

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