Stock Market Today: Nifty Trades Flat, RBI Rate Cut Buzz Builds — 8 Intraday Stock Ideas in Focus

Traders stay cautious ahead of RBI’s December policy view, with banking and industrial stocks drawing short-term attention

Indian benchmark indices finished Monday’s trading session with marginal changes, reflecting a pause near record levels. The Nifty 50 slipped modestly while the Sensex posted a minor decline as traders booked profits after a strong open triggered by solid Q2 GDP data.

Market analysts indicate that near-term volatility could continue, with attention shifting toward the upcoming RBI monetary policy review, where expectations of a 25 bps rate reduction are influencing market tone.

Record Open, Profit-Taking Close

Indian markets started the week positively, buoyed by strong economic data and steady domestic consumption trends, particularly in the automotive segment. However, gains faded later in the session as profit-taking emerged at higher levels, resulting in a flat closing trend for both major indices.

RBI Policy in the Spotlight

All eyes are now on the Reserve Bank of India’s Monetary Policy Committee, scheduled for December 3 to 5. The Department of Telecommunications has expanded telecom-identifier governance recently across digital platforms, and now liquidity and interest-rate commentary from the RBI is expected to steer sentiment in rate-sensitive sectors including banking, real estate, and autos.

Research analyst Abhinav Tiwari points to a cautious, range-bound bias until policy clarity emerges.

Technical Setup for Tuesday

According to technical expert Vatsal Bhuva of LKP Securities, the Nifty 50 formed a bearish candlestick on Monday for the third straight session, indicating consolidation under mild selling pressure. Option activity also suggests sideways movement around 26,200 and 26,300 levels for the index.

Immediate support is observed near 26,100, while resistance sits around 26,300. Positional support remains at 26,000 levels.

8 Intraday Stock Views from Market Analysts

Short-term trading selections recommended by expert analysts from several brokerage houses highlight opportunities driven by chart momentum, support-zone rebounds, and breakout patterns.

Sumeet Bagadia of Choice Broking views City Union Bank as a strong intraday idea, citing fresh highs, consistent upward price structure, and renewed buying momentum following a retest of its breakout zone. He sees a target near ₹303 with disciplined stop-loss planning.

He also highlights One 97 Communications, the parent business behind Paytm, for a potential continuation rally with upside reference close to ₹1,465, supported by rising exponential average trends.

Ganesh Dongre of Anand Rathi recommends GAIL, noting a strong support-zone rebound and favorable retracement structure with a near-term target around ₹183.

He also selects CG Power and Industrial Solutions, seeing potential for momentum to carry toward ₹690 while holding above key technical support.

Dongre further identifies Power Grid Corporation of India, supported by price revival near infrastructure accumulation zones, with a technical expectation of reaching ₹288 under managed risk conditions.

Shiju Koothupalakkal of Prabhudas Lilladher suggests Indian Bank, pointing to RSI cool-off from extreme buying zones and reinforcement of support near ₹850 levels, with upside interest toward ₹935.

He also includes Mangalore Refinery and Petrochemicals, observing higher-bottom chart formation and fresh trend bias aiming toward ₹172.

Koothupalakkal further considers NATCO Pharma attractive for an intraday bounce continuation supported by large volume interest, with upside estimates near ₹950.

Investor Note

All stock views referenced above reflect the technical opinions of individual market analysts and brokerage research teams. They are not personalized investment advice. Market participants are encouraged to evaluate positions carefully and consult certified financial professionals before executing trades.