A tremendous rise of 180 points in GIFT NIFTY is indicating a positive start for the market today. In fact, Iran has expressed willingness to negotiate with the US, which has boosted market sentiment. However, crude oil is trading around $107, which still remains a major concern. As a result, there may be a lot of volatility in the market today. Know which 20 stocks have been selected by analysts today under Zee Business’ special program ‘TRADERS DIARY’.
Special things in 5-point
* Last week, Nifty closed 1.9% lower at 23,898.
* Mid-cap indexes fell 0.6%, while small-caps lost 0.2%.
* On Friday, FIIs sold shares worth ₹8,827 crore, while DIIs bought shares worth ₹4,700 crore.
* Crude oil is trading at $107, which is a big negative factor.
* Last week, the rupee weakened by 1.4% and closed at 94.23.
Selected Stocks of Ansh Bhilwara
Category Share Name Action Target (Tgt) Stoploss (SL) CASH Tanla Platforms BUY ₹507 ₹476 FUTURES Colgate (May Fut) BUY ₹2232 ₹2085 OPTIONS SBI 1100 (May CE) BUY ₹50 ₹25 TECHNO PNB Housing Fin BUY ₹1138 ₹983 FUNDA SBFC Finance BUY ₹106 ₹90 INVEST/IPL M&M Financial BUY ₹333 ₹277 NEWS India Cements BUY ₹424 ₹400 MY CHOICE DCB Bank BUY ₹205 ₹188 MY CHOICE Can Fin Homes BUY ₹962 ₹885 MY CHOICE Supreme Petro BUY ₹890 ₹775
Pooja Tripathi’s selected stocks
Category Share Name Action Target (Tgt) Stoploss (SL) CASH Signature Global BUY ₹855 ₹825 FUTURE L&T Finance BUY ₹298 ₹286 OPTION RBL Bank 320 CE BUY ₹12 ₹2 TECHNO IDFC First Bank BUY ₹70 ₹65 FUNDA Axis Bank BUY ₹1450 6 Months INVEST Shriram Finance BUY ₹1150 12 Months NEWS Lodha (Macrotech) BUY ₹860 ₹827 MY CHOICE JK Cement BUY ₹5695 ₹5528 MY CHOICE Alembic Pharma BUY ₹766 ₹743 MY CHOICE Hind Zinc BUY ₹620 ₹582
Impact of global and domestic difficulties on the market
Vinod Nair, head of research at a brokerage firm, said that the impact of both global and domestic difficulties was clearly visible in the market last week. Talks between Iran and the United States have stalled, and supplies through the Strait of Hormuz have been disrupted, pushing crude oil prices to $105. There has been a significant decline in the rupee; The rise in crude oil prices and selling pressure from FIIs have put further pressure on the currency. RBI has given initial indications of economic slowdown. Next week, the Federal Reserve is going to announce its decision related to its monetary policy. The market will keep a close eye on the comments coming from the Fed Chair. Nifty’s immediate support at 23750-23650
Om Mehra, Technical Research Analyst, SAMCO Securities, said that on an immediate basis, Nifty’s support lies in the range of 23750-23650, while on recovery, resistance lies in the range of 24200-24300. Nifty is currently going through a time-based correction, and its overall bias still remains downwards.