GIFT Nifty has gained 155 points, indicating a big gap-up opening in the market today. The July series has seen gains in both the sessions so far and yesterday (Thursday) Nifty closed at 24,175 with a rise of 170 points. Let us know which are the 20 stocks offering good trading opportunities today, which have been selected by analysts Pooja Tripathi and Neha Anand in the special ‘Trader’s Diary’ segment for the last trading day of the week.
Talking about Asian markets, Japan’s Nikkei 225 rose by almost half percent. Hang Seng gained 1.5% and Korea’s KOSPI gained 2%. Talking about American markets, Nasdaq fell by 0.8% yesterday, while Dow Jones saw a strong gain of 595 points.
Understand the market situation in 5 points:
Nifty closed at 24,175 on Thursday; Keep an eye on 24,200 level.
Asian markets are bullish; GIFT Nifty is also showing bullish signs.
Crude oil prices have shown a slight rise and are trading above $72.
Yesterday FIIs sold shares worth ₹311 crore, while DIIs bought shares worth ₹1,784 crore.
Rupee has been continuously weakening for the last four sessions; The dollar index has crossed 100.5.
Pooja Tripathi’s selected stocks
Category Stock Name Action Stoploss Cash Bajaj H Fin BUY ₹91 ₹86 Future PNB BUY ₹110 ₹104 Option Infosys 1045 CALL (@ ₹39.55) BUY ₹80 ₹15 Techno Varun Bev BUY ₹525 ₹505 Funda IRB Infra BUY ₹23 (3-6 Months) — Invest Bank of Baroda BUY ₹300 (12 Months) — My Choice Avenue Supermarts BUY ₹4270 ₹4145 My Choice Tata Consumer BUY ₹1129 ₹1096 My Choice ICICI Bank BUY ₹1428 ₹1386
Neha Anand’s selected stocks
Category Stock Name Action Target (TGT) Stop Loss (SL) Best Pick / Cash Central Bank BUY ₹35 ₹31 Futures Bajaj Finance BUY ₹1057 ₹1001 Options Adani Ent 3160 CALL (@ ₹115) BUY ₹151 ₹101 Techno Marico BUY ₹865 ₹835 Funda J&K Bank BUY ₹169.50 ₹160.50 Investment Pick Carraro India BUY ₹650 ₹510 News Ujjivan SFB BUY ₹63.50 ₹60.20 My Choice BPCL BUY ₹320 ₹305 My Choice UCO Bank BUY ₹29 ₹26.50 My Choice Equitas SFB BUY ₹80 ₹76
Which level of Nifty should we pay attention to?
HDFC Securities Technical Research Analyst Nagaraj Shetty said that the market has bounced from the range of 23,800. The trend of Nifty is positive. There are several resistance points in the range of 24,200–24,250. If the market crosses this level, it will move towards 24,500–24,600. Support has now shifted to the level of 24,000. Nagaraj Shetty, Technical Research Analyst at SAMCO Securities, said yesterday Nifty closed above the 24,150 level – the point was earlier acting as a resistance band – which is a sign of increasing bullish dominance in the market. The index is currently trading above its 20-day SMA and the market sentiment remains positive. The next resistance for Nifty is seen in the range of 24,400-24,500, while the immediate support is at 24,000 and after that the second support level is at 23,900.