Gift Nifty Signals Weak Start; 8 Stocks to Watch on Monday

Gift Nifty Points to a Soft Opening

Indian stock markets are set for a muted start on Monday, with Gift Nifty trading in the red. The index, which reflects Nifty's performance on the Singapore Exchange, was down around 30 points, hinting at selling pressure at the open.

Traders are bracing for a cautious session as global cues remain mixed. Asian markets traded lower, tracking overnight losses on Wall Street where concerns over interest rate trajectory resurfaced.

Eight Stocks for Day Trading Today

Brokerages have identified eight stocks that could offer trading opportunities on Monday. These picks are based on technical momentum and volume patterns observed in the previous session.

Among the names are Reliance Industries, which has shown support near key moving averages, and HDFC Bank, which is witnessing consolidation after a recent correction. IT stocks like Infosys and TCS also feature on the list, given their resilience in a weak market.

Other stocks include ICICI Bank, Tata Motors, SBI, and Axis Bank. Traders are advised to use strict stop-losses given the volatile setup.

Technical Levels to Watch

For Nifty, the immediate support is at 24,500, while resistance lies at 24,800. Bank Nifty has support at 52,000 and resistance at 52,500. A break above or below these levels could set the tone for the week.

Analysts suggest focusing on stocks with high relative strength and avoiding beaten-down sectors until clarity emerges.

What to Expect in the Session

Volatility is likely to remain elevated as traders react to global cues and domestic economic data due later this week. The rupee's movement against the dollar and foreign fund flows will also be monitored closely.

Oil prices, which have been hovering near multi-month highs, remain a key overhang. Any spike could pressure fiscal deficit expectations and weigh on market sentiment.

The coming days will show whether the market can hold its recent gains or if a deeper correction is in store. Investors will watch the weekly F&O expiry and any policy comments from the RBI for directional cues.