Ajit Mishra bullish on Airtel, BSE, TVS Motor; wary on Nifty below 22,825

Stock to buy today: Ajit Mishra of Religare Broking is bullish on BSE, Bharti Airtel and TVS Motor Company.

Market outlook by Ajit Mishra

Markets traded volatile on Wednesday and ended marginally lower as elevated crude oil prices, geopolitical uncertainty and caution ahead of the US Federal Reserve's policy decision weighed on investor sentiment. The Nifty settled around 22,698, down 0.22 per cent, after slipping below the 22,500 mark during the session, reflecting continued uncertainty and a lack of sustained buying support. On the sectoral front, IT stocks led the decline, with profit-booking emerging after their recent outperformance and a global recovery in AI-related stocks. Realty and energy stocks also came under pressure. In contrast, the broader-market indices displayed resilience and edged higher amid volatility, although buying participation remained selective. Meanwhile, Jio Platforms' market debut at a premium to its issue price remained a key stock-specific development. Among the key macro factors, crude oil prices remained firm near $115 per barrel amid renewed concerns over potential supply disruptions following attacks on Saudi infrastructure. Caution ahead of the US Federal Reserve's policy announcement further dampened sentiment, with the accompanying commentary likely to influence global bond yields, the dollar and foreign portfolio flows, keeping the overall market tone subdued. The choppy session, following the previous day's largely flat close, highlights the fragility of the recent recovery, with buying interest at lower levels yet to translate into a sustained uptrend. Technically, the Nifty's inability to sustain above the 20-DEMA, currently around 22,825, keeps the near-term outlook cautious. Against this backdrop, traders should remain selective, avoid aggressive leverage and maintain disciplined risk management until the market establishes a clearer directional trend.