Stocks closed largely flat on Monday as upbeat November services activity data helped par earlier losses in the final minutes of a volatile session. The S&P BSE Sensex closed down 0.05% at 62,834.6. The NSE Nifty 50 index closed 0.03% higher at 18,701. In the broader market, the BSE Smallcap gauge rose 0.25% and the Midcap index 0.10%.
The rupee depreciated 52 paise to close at a near two-week low of 81.85 against the US dollar on Monday due to weak domestic markets, foreign exchange outflow and rise in crude oil prices.
Meanwhile, for Tuesday, Indian indices may see lower opening as SGX Nifty, Singapore Nifty which is the Indian Nifty traded on Singapore Stock Exchange, indicated a gap down opening for Indian. stock market today,
intraday trading strategy for today
Vaishali Parekh, Vice President – Technical Research, Prabhudas Lilladher Pvt. Ltd. said that “Nifty witnessed a volatile session which made a low of 18591 levels followed by a close on a flat note near 18700 levels facing resistance near 18720 zone. The index, as said earlier, has an immediate support area of 18500 levels and can expect some consolidation now. Support for the day can be seen at 18600 while resistance can be seen at 18850.”
On Bank Nifty, he said, “Bank Nifty is once again stuck between the tight range of 42800 and 43300 which has been in play for quite some time and will require a decisive breakout for a fresh upward move.”Bank Nifty The daily range will be 42800-43700 levels.
Vaishali Parekh’s intraday 2 top stock picks for today
Sharing as top picks for Tuesday, Prabhudas Lilladher’s Vaishali Parekh recommends two stock to buy Today there are Joe Can Fin Homes and Jubilant Food.
Can Fin Homes: Buy Can Fin Homes, Stop Loss 555, target 580
Jubilant Foods: Buy Jubilant Foods, Stop Loss 545, target 570
The views and recommendations given above are those of individual analysts or broking companies and not of Mint.
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