Prashanth Tapse, Senior VP (Research), Mehta Equities
GIFT Nifty is trading higher (+25, 24,988) as Dalal Street opens Tuesday, 19 August 2025, with sentiments caught between Trump’s 50% tariff on Indian goods and optimism from GST reform buzz. Nifty’s downside looks limited at 24,578 (100-DMA), with support at 24,336. Four supportive factors keep markets underpinned: GST rationalisation plans, unemployment at a record low 5.2%, S&P’s sovereign rating upgrade to ‘BBB’, and strong odds of a Fed rate cut.
Key catalysts this week include the FOMC minutes (20 Aug) and Powell’s Jackson Hole speech (22 Aug).
Stocks in focus: Vodafone Idea (+5%), Alembic Pharma (+0.6%), Electronics Mart (+7%), JSW Steel (+3.7%), Tata Steel (+1.7%), and JK Cement (+4.2%).
Trade view: Nifty (24,877) buy with targets 25,000/25,100 and aggressive 25,500–25,670; Bank Nifty (55,735) buy with targets 56,150/56,700 and aggressive 57,100.
Chart of the day: bullish on Nykaa, D-Mart, JSW Steel, SBI, and Supreme Industries. Stock to buy now: Supreme Industries (CMP 4,496), targets 4,651/4,739 and aggressive 5,000.
