Stock Market Today: Trade Setup for Nifty 50, India-US Trade Deal, Crude Oil to Gold Prices - 8 Stocks to Buy
Indian stock markets are expected to open on a positive note today, October 24, 2025, with GIFT Nifty trading at 26,248, up by 325 points, indicating a gap-up opening. This comes amid renewed optimism surrounding a potential India-US trade deal and positive global cues.
Nifty 50 Trade Setup
The Nifty 50 index ended marginally higher at 25,891.4 on the previous trading day. According to Bajaj Broking Research, the index has entered the overbought zone after a significant rally in the past four weeks and is expected to consolidate in the range of 25,600-26,100. Choice Broking suggests immediate resistance at 25,950, with further levels at 26,000 and 26,100. They maintain an overall bullish outlook as long as the index holds above 25,780. Enrich Money notes that a decisive breakout above 25,950 could trigger further upside towards 26,000 and potentially new lifetime highs. Immediate support is seen in the 25,600–25,700 range.
Bank Nifty Trade Setup
The Bank Nifty index closed at 58,078.05, fueled by a broad-based rally. Bajaj Broking research anticipates consolidation with a positive bias, with immediate support at 57,500-57,600 levels. Choice Broking expects the index to trade sideways to bullish, staying above key support levels at 57,700–57,900, with immediate resistance at 58,200–58,400.
India-US Trade Deal Buzz
India and the US are reportedly close to finalizing a long-awaited trade agreement. The deal could see the US slash tariffs on Indian exports from the current 50% to 15-16%. In return, India may agree to gradually reduce its imports of Russian oil. The agreement may also include increased market access for select US agricultural exports, including corn and soymeal. The deal is expected to focus on strengthening cooperation in energy and agriculture. While neither government has officially confirmed the final terms, expectations are rising that the deal will be announced soon, possibly at the upcoming ASEAN summit.
Crude Oil Prices
Crude oil prices surged on Thursday. The current price of Crude Oil WTI futures is $61.76, with a previous close of $58.50. WTI crude oil rose to $61.86 USD/Bbl on October 23, 2025, up 5.75% from the previous day. Brent crude oil rose to $65.80 USD/Bbl on October 23, 2025, up 5.13% from the previous day. The rise in prices follows the US announcement of sanctions on key Russian oil companies and reports of a potential India-US trade deal that could see India reduce imports of Russian crude.
Gold Prices
Gold prices are currently trading at ₹12,508 per gram for 24 karat gold, ₹11,465 per gram for 22 karat gold, and ₹9,381 per gram for 18 karat gold in India. The live gold spot price is $4,125.78 per ounce. Gold prices can fluctuate based on investment supply and demand, and other market factors.
Stocks to Buy
According to Aakash K Hindocha, Deputy Vice President - WM Research, Nuvama Professional Clients Group, top buy calls for today are Navin Fluorine International, Lloyds Metals And Energy, and Bank of Maharashtra. MarketSmith India will reveal its top stock recommendations for today, October 24. Nomura has initiated coverage on Tata Steel with a 'buy' rating and a price target of Rs 215. Kotak Securities has recommended NBCC (India) Ltd. with a target price of 118 | 122 and a stop loss of 109. HDFC Securities provides positional stock recommendations based on technical analysis.
Disclaimer: The article is for informational purposes only and should not be construed as investment advice. Please consult with a financial advisor before making any investment decisions.
