Day trading guide for today: Indian stock market closed higher for the third day in a row, following positive global cues on strong US retail sales data. The Nifty 50 index rose 20 points to close at 18,035, while the BSE Sensex gained 44 points to close at 61,319. However, the Bank Nifty index continued to feel the pressure at higher levels and closed 99 points lower at 41,631. Broad markets outperformed major benchmark indices on Thursday, with both the small-cap index and the mid-cap index rising 1 per cent each. The Advance Decline ratio ended at 1.29:1.
According to market watchers, a small negative candle has formed on the daily chart, indicating minor weakness emerging from the highs. This pattern also signals the formation of a Bearish Counter Attack type candle pattern (not a classical one). But it needs to be confirmed with major weakness in subsequent sessions.
Day Trading Guide for Friday
Nagraj Shetty, Technical Research Analyst speaking on Nifty outlook today HDFC Securities said, “Nifty’s short-term uptrend continues and the market has started facing headwinds from near highs of around 18,150 to 18,200. Further downside from here would suggest minor weakness for the short term and a sustainable upside trend.” May trigger the move. 18,150 level could lead to further rise towards 18,250.”
On the factors that could dominate the Indian stock market today, market expert Sugandha Sachdeva said, “A stronger-than-expected jump in US retail sales in January after two consecutive months of decline and a faster-than-expected rise in producer prices Fears that the US Fed will maintain an accommodative policy stance. This has further weighed on the dollar index and is likely to hurt the risk appetite of the markets. Global cues are also pointing to pressure on the markets in early trades. Are.”
Sugandha further said that the trade deficit for January came down to $17.6 billion, the lowest in a year, will allay concerns about the current account deficit and bode well for the domestic economy. Sugandha Sachdeva believes that this could provide good support for the Frontline index near the key level of 17,700.
nifty call put option data
Speaking on the Nifty Call Put Ratio, Rahul Ghosh, Founder & CEO, Hedged said, “The build-up to expiry on Wednesday was indicating call writing at both 18,000 and 18,100 levels. Even though the Nifty jumped 100 points on Wednesday, But these call writers did not shift their calls. They suffered losses due to Thursday’s gap-up opening but increase in OI at 18100 CE ensured that this level acts as a strong resistance for Nifty. Will do.”
day trading stocks to buy today
Sharing intraday stocks for today, stock market experts – Sumeet Bagadia, Executive Director, Choice Broking and Ganesh Dongre, Senior Manager – Technical Research, Anand Rathi recommend 4 stocks to buy today.
sumit bagadia intraday stock for today
1]Divi’s Laboratories : Buy at CMP, Target 2950 and 3000, stop loss 2821
2] Coal India Ltd: Start shopping at CMP, Target 220 more 224 stop loss 211
Ganesh Dongre’s shares will be bought today
3]Max Financial Services Limited or MFSL: Buy 739, target 769 stop loss 723
4]Central Bank of India : Buy 27, target 29.50, stop loss 25.50.
Disclaimer: The views and recommendations given above are those of individual analysts or broking companies and not of Mint. We advise investors to do due diligence with certified experts before making any investment decision.
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