Stock market today: After falling sharply on Thursday, the Indian stock market turned sustained gains from its lows and closed higher on Friday. Nifty 50 index rose 64 points to end at 21,782 levels, BSE Sensex rose 167 points to end at 71,595 levels and Nifty Bank index rose 622 points to end at 45,634 levels. However, the overall market index continues to be sluggish. The small cap index fell by 1.36% and the midcap index fell by 0.82%.
“A sharp sell-off was observed across domestic markets due to rising oil prices and a slowdown in global influence during the Lunar New Year holidays in Asian markets.Mid-cap and small-cap stocks have seen strong gains in the past few months. After a weak start, Nifty rebounded in the second half and closed near the day's high at 21,783 level, up 65 points. The results were mixed, with buying seen in banking, financial and pharma stocks.The mixed results and sharp rise in PSUs over the past few months led to profit-taking on this counter. An early rate cut was too weak for sentiment,” said Siddhartha Khemka, head of retail research at Motilal Oswal.
Today's stock market day trading guide
Commenting on the outlook for Nifty 50 today, Nagaraj Shetty, Senior Technical Research Analyst, HDFC Securities said, “The overall upward trend of Nifty is sustained and further rally towards 22000 levels is possible in the near term. The 21600-21500 level could be a buying opportunity.”
Commenting on the outlook for Bank Nifty today, Samco Securities Technical Analyst Mehra said, “Last week, Bank Nifty fell by 0.73% to end at 45,634.55.The 50-day simple moving average (SMA) was 46,300. Standing as solid resistance, key support for the 200-day moving average (DMA) is at 44,800. A break below these levels could test the 44,000 mark in the next trading session.
Today's day trading stocks
Stock market experts on what stocks to buy today – Sumeet Bagadia, Executive Director, Choice Broking. Mr. Ganesh Dongre, Senior Manager — Technical Research at Anand Rathi. Shiju Koothupalakkal, Technical Analyst at Prabhudas Lilladher, and Kunal Kamble, Senior Technical Analyst at Bonanza Portfolio, have recommended his 8 stocks to buy or sell today.
Sumeet Bagadia Day Trading Stocks
1]Krishna Institute of Medical Sciences or KIMS: buy at INR2169.35, target INR2270, stop loss INR2098.
Our latest market analysis recommends investors to initiate a cash position in KIMS. INR2169.35, complemented by a stop-loss order set at 2169.35. INRIn 2098, the target stock price is INR2270. This strategic move is supported by the stock's RSI value of 64.
2] Bank of Baroda: buy at INR263.50, target INR275, stop loss INR257.
Recent market analysis recommends investors to initiate a long position in Bank of Baroda stock. INR263.50, set stop loss INR257 and targeting INR275. This view is supported by the Relative Strength Index (RSI), currently at 68, indicating bullish sentiment.
Ganesh Dongre Stocks to Buy Today
3] DLF: buy at INR835, target INR875, stop loss INR815.
In terms of short-term trends, DLF stock price shows a bullish reversal pattern, and technically, INR875. Therefore, maintaining the support level: INR815 This stock is INR875 level in the short term. Therefore, traders can set a stop loss and go long. INRTarget price is 815 INR875.
4]SBI: buy at INR728, target INR760, stop loss INR715.
In the short-term trend, SBI stock price is showing a bullish reversal pattern and technically, INR760. Therefore, maintaining the support level: INR715 This stock is INR760 level in the short term. Therefore, traders can set a stop loss and go long. INRTarget stock price is 715 INR760.
Buying and selling shares of Shiju Koothupalakkal
5]Hadco: buy at INR200, goal INR216, stop loss INR195.
The stock has maintained a strong upward trend on the daily chart with a series of high-low formations and is currently witnessing a decent comeback from the stock's previous showing. INRThe 183 zone formed a higher low pattern and improved the bias for further upside. A flag pattern is starting to form, and the target is expected to rise further. INRMaintain stop loss at 216 INR195.
6] Bharat Forge: buy at INR1314, target INR1357, stop loss INR1290.
Bharat Forge stock is showing a rising bottom near the important 50 EMA level. INRA decent pullback was witnessed in the 1190 zone and it is now breaking out. INR1300 zone inducing new upward movement. RSI is in a good position, so initial upside target INRMaintain stop loss at 1357 INR1290.
7] Sona Blw precision forgings or sonacom: buy at INR619.35, target INR655, stop loss INR607.
The stock witnessed a significant decline from the important 50 EMA level. INRIt is in the 598 zone, showing a higher low pattern on the daily chart, and the bias is improving.We expect further upside and our initial target is INRMaintain stop loss at 655 INR607.
Kunal Kumble's Stock of the Day
8]Apollo Hospital: buy at INR6437.45, target INR6590, stop loss INR6360.
In daily time, Frame Apollo Hospitals stock price breached an all-time high, indicating a continuation of the upward trend. The security closed near its high, indicating that buyers are eager to purchase the security. The increase in volume is supporting price action and indicates that buyers are keen to purchase securities in cmp. The average price front is trading above the 50 and 200 EMAs, indicating an uptrend. On the momentum side, the RSI is trading in a higher range indicating an uptrend.
Disclaimer: The views and recommendations expressed above are those of individual analysts, experts, and brokerages and not of Mint. We recommend checking with a certified professional before making any investment decisions.
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