The market has remained bullish since the last two trading sessions. On Wednesday, Nifty closed 167 points higher at 25342. It seems that the bullish atmosphere is coming back in the market. Yesterday, Nifty closed above its 5-day EMA 25270, which is a positive sign. However, SGX Nifty is down 60 points, indicating profit booking in the market today. Find out which stocks the analysts have picked today in Zee Business’ special programme, Traders Diary.
Talking about the factors affecting the market, the Federal Reserve did not cut interest rates. Fed Chairman Jerome Powell said the growth outlook is strong, but concerns remain about inflation. On the other hand, President Trump said that a new Fed Chairman will make a big cut in rates. Economic survey is also to be presented today. After a long time, FIIs have bought in the cash market, while DIIs continue to buy.
Factors affecting the market:
S&P 500 sets new life high for second consecutive day
Nasdaq rose for the sixth consecutive day, reaching a 3-month high
US Federal Reserve kept interest rates unchanged
Crude oil near $68, at 4-month high
Crude oil has increased by 12% this month
FIIs selling in cash market stopped after 15 days,
Yesterday, FIIs made short purchases worth Rs 480 crore
DIIs purchased Rs 3361 crore on record 105th day
Buy or sell on a weak start?
Buy both the first and key support levels on a weak start
After two days of strength, recovery will come on the first decline
Sentiment improved due to stoppage of selling by FIIs
Support received from good results of L&T and SBI cards
Strong IIP figures at 26-month high
What are the risks in the market?
FIIs have stopped selling but are still not buying in large quantities.
The rupee is also falling.
Crude oil is moving towards dangerous levels.
Traders caught in the pre-budget rally can reduce their positions.
If there is further increase, it will reach close to the major resistance level.
Ansh Bhilwara Stocks
cash
Buy ICRA – Target ₹6100, Stoploss ₹5855.
futures
Buy Rail Vikas Nigam – Target ₹360, Stoploss ₹324.
options
Buy Phoenix Mills 1800 calls – target ₹60, stoploss ₹30.
techno
Buy Jindal Steel – Target ₹1225, Stoploss ₹1070.
funda
Buy Brigade Hotel – Target ₹66, Stoploss ₹58.
invest
Buy Borosil Renewables – Target ₹593, Stoploss ₹498.
News
Buy LT Foods – Target ₹374, Stoploss ₹350.
my choice
Buy GRSE – Target ₹2640, Stoploss ₹2460.
Buy Gland Pharma – Target ₹1725, Stoploss ₹1672.
Buy Birlasoft – Target ₹415, Stoploss ₹396.
my best
GRSE
Pooja Tripathi’s stocks
cash
Buy GE Vernova – Target ₹2963, Stoploss ₹2876.
future
Buy L&T – Target ₹3869, Stoploss ₹3756.
option
Buy SBI Card 780 Call @ ₹31.75 – Target ₹55, Stoploss ₹20.
techno
Buy HPCL – Target ₹441, Stoploss ₹428.
funda
Buy HAL – Target ₹5000, Stoploss ₹4400.
invest
Buy L&T Finance – Target ₹335, Investment tenure 12 months.
News
Buy Segility – Target ₹55, Stoploss ₹50. my choice
Buy eClerx – Target ₹4532, Stoploss ₹4400.
Buy Thyrocare – Target ₹470, Stoploss ₹450.
Sell Lodha Developers – Target ₹900, Stoploss ₹938.
best pick
Buy GE Vernova – Target ₹2963, Stoploss ₹2876
