Today is the last trading session of the week and GIFT Nifty is trading above 80 points, which indicates a good start for the market. Yesterday the market closed with losses for the second consecutive day; Nifty fell 53 points and closed at 23,161. Know which stocks have been selected by analysts Ansh Bhilwar and Pooja Tripathi for Friday. Know which news can create a stir in the ‘happiest minds’ today. Technical setup signals breakout in Tata Chemicals; It remains to be seen how long this momentum continues. Also, will Vedanta maintain its bullish momentum in today’s session?
Talking about Asian markets, Japan’s Nikkei is up about 4% and Korea’s Kospi is up about 8%. Yesterday a big recovery of 930 points was seen in Dow Jones. Trump has hinted at a deal with Iran soon; Due to this, crude oil prices have fallen below $90. FII selling appears to be slowing down; They made net sales of ₹1,987 crore yesterday, while DIIs bought shares worth ₹4,224 crore.
Should we assume a deal is happening?
Prices increased due to news of ‘deal confirmed’ in global markets
The biggest one-day rise in the US since the ceasefire on April 8
Strong rise in Asian markets shows market confidence
Crude oil prices also show confidence about a deal below $90
‘Risk-on’ trade returns to global markets
Huge jump in commodity, gold and silver prices
Is there a risk of the deal falling apart?
Nothing is known about Trump; They can change their stance anytime.
There was a plan to destroy Iran late yesterday evening.
Yet, just four hours later a major deal was announced.
Nothing is 100% certain until the deal is actually signed.
This should be confirmed only if Iran approves the deal.
Iran’s Foreign Ministry has also said that the deal has not been confirmed yet.
Since it is a weekend session, it is important to be alert. However, the main thing is that the market does not react to negative news related to war…
…but bounces strongly on positive news.
It is clear that Trump wants to end the war one way or the other.
Is Nifty still at the ‘make-or-break’ level?
The levels on the ceasefire day of April 7 and the gap on April 8 were important for Nifty.
On April 7, the highest level was 23,153, and it closed at 23,123.
On June 3, Nifty closed the gap by touching a low of 23,151.
On June 8, it closed at 23,123—exactly the same level as the April 7 closing level.
Nifty has filled both intraday and closing levels.
For the last four days, it has closed in a tight range of only 119 points.
Only a close below 23,000 will see notable weakness.
Where is the support for Nifty?
HDFC Securities’ Technical Research Analyst Nagaraj Shetty said that the basic trend of the market is bearish. The market has been trading in a tight range for the last few sessions, and Nifty’s support currently lies in the range of 23,100-23,000. If this base is broken, the market will see a new decline.
Ansh Bhilwar’s Selected Stocks
Category Share Name Action Target Stoploss CASH Happiest Minds BUY ₹371 ₹335 FUTURES Sun Pharma BUY ₹1,850 ₹1,770 OPTIONS Cipla 1400 Call BUY ₹35 ₹14 TECHNO Tata Chemical BUY ₹840 ₹700 FUNDA Vedanta BUY ₹335 ₹289 INVEST Natco Pharma BUY ₹930 ₹800 NEWS Dr Reddys BUY ₹1,300 ₹1,263 MY CHOICE Choice International BUY ₹708 ₹629 MY CHOICE Hero Motocorp BUY ₹4,984 ₹4,770 MY CHOICE Tech Mahindra BUY ₹1,518 ₹1,444
Pooja Tripathi’s selected stocks
Category Share Name Action Target Stoploss/Period CASH HEXAWARE TECH BUY ₹512 ₹497 FUTURE ASIAN PAINTS BUY ₹2,743 ₹2,663 OPTION INDIGO 4500 CE (@ 104.5) BUY ₹220 ₹60 TECHNO HPCL BUY ₹380 ₹361 FUNDA L&T FINANCE BUY ₹300 12 MONTHS (Period) INVEST ETERNAL BUY ₹260 12 MONTHS (Period) NEWS L&T TECH BUY ₹3,356 ₹3,258 NEWS BPCL BUY ₹291 ₹283 NEWS CYIENT BUY ₹865 ₹837 NEWS OIL INDIA SELL ₹420 ₹434