Today is the last trading session of the week and there are signs of slight softening in the market. GIFT Nifty is trading 10 points higher, indicating a flat opening of the market. On Thursday, Nifty had increased by 11 points and closed at 23,416. Apart from this, the Reserve Bank will announce its monetary policy at 10:00 am today. With these things in mind, let’s take a look at stocks that may offer trading opportunities. Analysts Ansh Bhilwar and Pooja Tripathi have selected 10-10 stocks for traders; These stocks can provide profit opportunities in today’s session.
What to expect from RBI policy?
Today the most important policy of the last one year is going to be announced.
All eyes are on RBI’s action and its commentary.
After a long time, there remains uncertainty regarding interest rates.
Most people are still in favor of keeping the rates as they are.
Some people fear that RBI may increase interest rates.
However, according to our assessment, the chances of rate increase this time are less.
Therefore, RBI’s comment will be important.
The market will get its right direction only after the announcement of the policy.
Where is the support for Nifty?
Om Mehra, Technical Research Analyst, SAMCO Securities, said that the market is trading in a very limited range and is overall under pressure. From a technical point of view, Nifty is making a new base in the zone of 23,350–23,500. Immediate support for Nifty lies in the range of 23,250–23,200, while the zone of 23,600–23,680 will act as resistance. Nifty closed at 23,416 on Thursday. A new base has been formed in the zone of 23,350–23,500. Immediate support is around the level of 23,300.
On bounce back, it is likely to move towards 23,900. HDFC Securities Technical Research Analyst Nagaraj Shetty said that Nifty has made a new lower bottom at 23,150 and during the rebound it can go up to 23,900. Immediate support is at 23,300 level.
Ansh Bhilwar’s Selected Stocks
Category Stock Name Action Target (₹) Stop Loss (₹) CASH Jindal Saw Buy ₹287 ₹246 FUTURES Maruti Buy ₹13,500 ₹13,000 OPTIONS GAIL 170 Call Buy ₹7 ₹2 TECHNO Eternal Buy ₹280 ₹243 FUNDA Aurobindo Pharma Buy ₹1,555 ₹1,422 INVEST HAL Buy ₹4,720 ₹3,960 NEWS Wockhardt Buy ₹2,188 ₹2,033 MY CHOICE Ramco Cement Buy ₹945 ₹840 MY CHOICE LT (L&T) Buy ₹4,116 ₹3,868 MY CHOICE Voltas Buy ₹1,388 ₹1,238
Pooja Tripathi’s selected stocks
Category Stock Name Action Target (₹) Stop Loss / Duration CASH Juniper Hotels Buy ₹205 ₹198 (SL) FUTURE ITC Buy ₹290 ₹277 (SL) OPTION Lupine 2260 Call Option Buy ₹120 ₹10 (SL) TECHNO HDFC Bank Buy ₹770 ₹746 (SL) FUNDA Indigo Buy ₹4,800 6 Months (Duration) INVEST Titan Buy ₹4,500 12 Months (Duration) NEWS CG Power Buy ₹955 ₹927 (SL) MY CHOICE JK Lakshmi Cement Buy ₹615 ₹593 (SL) MY CHOICE Shriram Finance Buy ₹945 ₹905 (SL) MY CHOICE Wipro Sell ₹210 ₹200 (SL)