After a weak start to the week, the domestic stock market is showing positive signs today due to the rise in the global market. Today is the last trading session of the week, and SGX Nifty is showing a gain of almost 70 points, which suggests that the market may open with a positive gap-up.
Pressure on Nifty for the fourth consecutive day
Nifty witnessed weakness for the fourth consecutive trading day and closed at a one-week low. Technically, Nifty has formed a series of lower lows and lower highs, indicating weakness in the trend. On Thursday, the Sensex fell 78 points to close at 84,482, while the Nifty fell marginally 3 points to 25,816. Bank Nifty also fell 14 points and closed at 58,913.
Signs of volatility in Bank Nifty
Bank Nifty closed lower for the third consecutive day and hit a three-week low. However, a higher high and higher low pattern is visible on its chart, which shows that the trend has not been completely broken yet and further volatility can be expected.
Positive factors giving relief to the market
Despite the weakness, some important positive signs have emerged for the market.
1. Selling by foreign investors has reduced, and some buying has been seen in the recent session.
2. Continuous buying by domestic institutional investors is giving strong support to the market.
3. There has been a good recovery in the rupee in the last two days, which has restored some confidence among foreign investors.
4. Globally, US markets have taken a sigh of relief after four days of decline, and this is also impacting Asian markets and domestic sentiment.
5. Moreover, the Indian market seems to be recovering from the key support levels and trying to break out of the oversold zone.
Today’s Exclusive Stock Picks in Trader’s Diary
Amidst all these factors, investors and traders will be keeping a close eye on Zee Business’ special program, Traders Diary today. In this program, analysts will focus on selected stocks that show short-term trading opportunities. Target and stop-loss levels will also be given for these stocks, which can play an important role in today’s trading. Ansh’s choice
Cash:
Sabros Buy Target 978 Stop Loss 822
Futures:
Buy BDL Target 1424 Stop Loss 1303
Options:
Buy TCS 3300 Call Target 60 Stop Loss 10
Techno:
APL Apollo Buy Target 1880 Stop Loss 1752
funda
Buy Tata Steel Target 179 Stop Loss 163
Invest:
Kfin Tech Buy Target 1205 Stop Loss 1006
News:
Buy Vari Energies Target 2940 Stop Loss 2850
My choice:
FirstCry Buy Target 317 Stop Loss 289
Buy Bajaj Holding Target 11830 Stop Loss 10500
Divis Labs Buy Target 6635 Stop Loss 6254
My best choice:
Tata Steel
Pooja’s choice
Cash:
Buy Hind Copper Target 394 Stop Loss 383
Future:
Max Healthcare Buy Target 1070 Stop Loss 1037
Option:
Buy Indigo Put 5100 @ 66 Target 120 Stop Loss 50
Techno:
Shriram Finance Buy Target 886 Stop Loss 860
funda:
Buy Lupine Target 2300 Stop Loss 2090
Invest:
Buy Titan Target 4500 Period 12 Months
News:
Arvind Buy Target 315 Stop Loss 305
My choice:
Buy Welspun Living Target 138 Stop Loss 130
buy bata target 957 stop loss 929
Ramco Systems Buy Target 595 Stop Loss 578
Best Choice:
Max Healthcare Buy Target 1070 Stop Loss 1037