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The Indian market could face selling pressure at higher levels despite positive global cues. The Nifty50 closed below 18,700 levels as India VIX was slightly up. The monthly maximum Call OI is placed at 18,800, while the maximum Put OI is placed at 18,700. The options data suggests a shift in a lower trading range between 18,500 to 19,000 zones and an immediate trading range in between 18,550 to 18,800 zones, said Chandan Taparia, an analyst-derivatives at Motilal Oswal Financial Services Limited. Various experts recommend short-term trading options like buying stocks in Maruti Suzuki, Tata Chemicals, and HCL Technologies.

​Aggressive New Short means the average traded quantity of a stock for 5 days along with its cumulative open interest have increased whereas the price has decreased.​

Despite Sensex and Nifty reaching record highs in the last 3 months, a study of Nifty 500 stocks reveals that 185 stocks are at least 20% away from their 52-week high levels. Stocks that need to more than double in share prices to touch previous peaks include Adani Transmission, Gland Pharma, Adani Green Energy, Piramal Enterprises, Piramal Pharma, Adani Wilmar, Campus Activewear, and Tata Teleservices (Maharashtra). The underperformance of sectors like pharma and metal is said to be the main reason, while the bull market this time seems to be getting sectoral rather than making new highs and bottoms in all areas.

High dividend-paying stocks are the most sought after on the Street as they reward investors with consistent payouts irrespective of the market sentiments.

Macquarie has maintained its outperform rating on IndusInd Bank with a target price of Rs 1510, as the bank aims to strengthen its balance sheet by making more contingent provisions and raise net interest margins from 4.2-4.3% to 4.4%. Macquarie has also downgraded Paytm to neutral with a target price of Rs 800 due to a sharp run-up in the share price but expects accounting profitability from the platform by FY26. Additionally, brokerage firms Spark and CLSA recommended a buy rating on EMS player Kaynes Technology and life insurer ICICI Prudential, respectively.

The rupee has bounced back by eight paise to 81.96 against the US dollar amid gains in the domestic equities and a weak greenback in the global market. The dollar index, indicating the strength of the greenback against six currencies, declined by 0.07% to 102.63. Brent crude traded higher at $74.51 per barrel by 0.44%. The BSE Sensex rose by 0.3%, while the Nifty gained 0.29% at 18,745.90 points. According to exchange publications, Foreign Portfolio Investors sold equity shares worth INR409.43 crore.

On the technical charts, the RSI of the stock stood at 65.23.

I think two-three things, obviously, the launch of the stores, what they are talking about, the differentiation between a brand called Zudio. So, I think these two are differentiators, but I think at this valuation, we are not comfortable in advising buying Trent at this current price

Trading on the verge of a breakdown from a rising channel on weekly chart.

A total of 73,104 shares changed hands on the counter till 10:36AM (IST).