At this time good news is coming from all sectors for the Indian market. An agreement has been reached between America and Iran. Crude oil prices have fallen to $78, which has brought a lot of relief to India. GIFT Nifty is trading above 111 points, indicating a positive opening of the market today. Amidst this bullish market environment, know which stocks have been selected by analysts Ansh Bhilwar and Pooja Tripathi for Zee Business’ ‘Traders Diary’ show.
A continuous upward trend has been observed in the Indian market for the last four sessions. On Wednesday, Nifty closed 96 points higher at 24,085, while Sensex closed 347 points higher at 77,155. Although there is no major movement in the market right now, the trend is upward and Nifty is trying to make a new base at the level of 24,000.
Selected shares of Ansh Bhilwar
Category Stock Name Action Target Stop Loss CASH INDO COUNT Buy ₹359 ₹334 FUTURES RADICO KHAITAN Buy ₹3,650 ₹3,544 OPTIONS UNITED SPIRITS 1350 Call Buy ₹15 ₹5 TECHNO INDUSTRIES Buy ₹18,700 ₹17,100 FUNDA VARDHMAN TEXTILES Buy ₹655 ₹612 INVEST LT FOODS Buy ₹421 ₹364 NEWS SOLAR GOKALDAS EXPORTS Buy ₹760 ₹714 MY CHOICE VEDANTA ALUMINUM Buy ₹500 ₹450 MY CHOICE CG POWER Buy ₹1,032 ₹932 MY CHOICE COCHIN SHIPYARD Buy ₹1,593 ₹1,477
Selected shares of Pooja Tripathi
Category Stock Name Action Target/Period Stop Loss CASH HEXAWARE TECH Buy ₹513 ₹498 FUTURE FEDERAL BANK Buy ₹332 ₹318 OPTION HPCL 400 Call (@ ₹11.55) Buy ₹30 ₹5 TECHNO SAMVARDHANA MOTHERSON Buy ₹148 ₹143 FUNDA KEI INDUSTRIES Buy 6-12 Months — INVEST TRENT Buy 12 Months (Months) — NEWS ARVIND Buy ₹507 ₹493 MY CHOICE RVNL Buy ₹250 ₹242 MY CHOICE WAAREE RENEWABLE Buy ₹990 ₹961 MY CHOICE BPCL Buy ₹328 ₹313
Huge enthusiasm in Asian markets
There is a bullishness in Asian markets regarding America-Iran deal. Japan’s Nikkei rose 1.75% and Korea’s Kospi rose 0.75%. Dow futures are also trading up 0.5%, a reversal from Wednesday’s session, when the Dow Jones closed 507 points lower.
Fed kept interest rates stable
The Federal Reserve held a meeting yesterday and new Chairman Kevin Worsh decided to keep interest rates steady for the time being. The Fed has taken a dovish stance, although there are signs of a rate hike later this year. The Fed has also increased its inflation forecast.
Where is the support for Nifty?
HDFC Securities Technical Research Analyst Nagaraj Shetty said that the short-term trend of Nifty looks positive. If Nifty closes above 24,100, it is likely to move towards 24,500 levels. Immediate support is visible at the level of 23,900. Nandish Shah, deputy vice president of the brokerage, said the Nifty is up more than 1,000 points from its recent low.
