Indian stock markets ended positively on October 15, with the Nifty surpassing the 25,300 mark. The Nifty rose by 178.05 points, or 0.71%, closing at 25,323.55. The Sensex also saw an increase of 575.45 points, or 0.70%, reaching 82,605.43. Despite ongoing uncertainties, the India VIX, a key measure of market volatility, decreased by 5.60% to 10.53.

Investors are now looking forward to important U.S. economic data, including GDP, PPI, and retail sales figures expected on Thursday. In today’s results, companies like Infosys, Wipro, LTIM, Nestle, Jio Financial Services, and Eternal are in focus. Global markets are also watching the potential for a trade agreement between the U.S. and China amid rising tensions.

The Nifty index formed a bullish pattern with higher highs and lows, indicating continued positive momentum despite a previous bearish session. On Wednesday, the index surpassed last week’s high of 25,330, suggesting an ongoing upward trend in the weekly chart. Analysts from Bajaj Broking noted that the index might extend its rise towards resistance levels of 25,450-25,500.

Support for the Nifty is around 25,000-25,100, aligning with previous lows and key moving averages. Staying above this range will maintain a positive short-term outlook. Stock-specific movements will remain crucial as Q2FY26 earnings unfold.

The Bank Nifty also showed a bullish pattern with higher highs and lows, continuing its positive momentum. Analysts from Bajaj Broking highlighted that stock-specific actions will be significant during the earnings season. Immediate resistance is at 57,000; surpassing this could lead to new highs around 57,600.

Bank Nifty is outperforming other indices with immediate support at 56,200-56,000 levels. Maintaining above these levels keeps the immediate outlook positive.

Stock Recommendations

On October 16, Riyank Arora from Mehta Equities Ltd suggested buying two stocks: BEML and MTAR Technologies.

BEML is experiencing strong buying interest after forming a base near ₹4,300. Trading above ₹4,471 could push prices to ₹4,750 and ₹4,900. A stop-loss at ₹4,300 is recommended to manage risks.

MTAR Technologies maintains a positive trend with strong volume support and a bullish crossover on the daily chart. Staying above ₹2,205 may lead to targets of ₹2,350 and ₹2,420. Traders should use a stop-loss at ₹2,120 to protect profits.

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