Shares to buy or sell: Sachin Gupta of 5paisa recommends Bharti Airtel, Cholamandalam Investment today – 4 February

Stock market today: The domestic benchmark indices, Nifty 50 and Sensex, commenced on a robust note on Tuesday, responding to favourable global trends after former US President Donald Trump opted to delay the imposition of tariffs for a month. The news prompted positive reactions among investors, resulting in gains across the key indices.

The Nifty 50 index began at 23,509.90, reflecting an increase of 148.85 points (0.64 percent), while the Sensex rose by 500.86 points (0.65 percent) to kick off the day at 77,687.60.

Analysts noted that the temporary suspension of tariffs will support the market’s recovery from losses experienced on Monday. Furthermore, investors are now pivoting their attention to the Union Budget, which had previously been overshadowed by trade issues.

Market Review and Outlook – Sachin Gupta, Senior Research Analyst at 5paisa

In line with Asian markets, the Nifty 50 opened weak. Trump’s tariffs served as a key macro headwind for global markets. However, the Nifty 50 staged a modest recovery in the afternoon session and closed 0.5% down. Construction and Capex stocks fell again, with L&T being the top loser, down by 4.7%. On the other hand, consumer durable and spending-related stocks like Bajaj Finance, Shriram Finance, and M&M rallied by more than 3%. The market breadth was also weak, as 35 of the Nifty 50 stocks saw declines.

After last week’s rally, the Nifty 50 was due for a breather. Today’s decline can be attributed to the macro event (Trump tariffs) that unfolded over the weekend. In this context, the strong afternoon session suggests there is buying interest at lower levels. The RSI has moderated slightly and is not currently indicating momentum in either direction. Near-term support and resistance levels are 23,038/23,162 and 23,561/23,684.

Shares to buy or sell today on Tuesday- Sachin Gupta

On shares to buy or sell on Tuesday, Sachin Gupta recommends Cholamandalam Investment and Finance Company Ltd, and Bharti Airtel Ltd.

Cholamandalam Investment and Finance Company Ltd

On the daily chart, the stock is on the verge of a breakout and is hovering above the 100-day and 200-day Exponential Moving Averages, indicating bullish strength for the short to medium term. Additionally, the stock price has bounced off the support level of 1,170 and is holding above the 23.6% retracement level, which signals positive momentum. On the weekly timeframe, the stock formed a Bullish Engulfing

Pattern last week, further confirming the bullish outlook. Based on the above technical structure, we recommend buying Cholamandalam Investment and Finance above 1,335, with a stop loss at 1,276 and upside targets at 1,384 and 1,430.

Bharti Airtel Ltd

The stock has given a breakout from a symmetrical triangle pattern on the daily chart, indicating further upward momentum in the near term. It has also been trading above the 100-day EMA, reinforcing the bullish setup. Additionally, both the MACD and RSI have shown positive crossovers, which further support the bullish trend.

Based on this technical structure, we expect continued upward movement in Bharti Airtel for the short to medium term. Therefore, traders are advised to buy around the 1,650 level, targeting an upside of 1,730, with a strict stop loss at 1,595.

Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decision.