Buy or sell shares for today: Indian equity markets closed with losses for the third straight session on Wednesday as investors turned cautious on speculations of a rate hike by the US Fed. The 50-share index Nifty closed 41 points lower at 17,618, while the 30-share index Sensex closed 159 points lower at 59,567. The Nifty Bank index fell 111 points to close at 42,154. In the broad market, the small-cap index advanced 0.12 per cent, while the mid-cap index closed 0.18 per cent lower. After about three weeks, the advance drawdown ratio fell below the 1:1 level to 0.91:1.
Share Market Today: Intraday Trading Strategy
Anuj Gupta, Vice President-Research, IIFL Securities, believes that the market is expected to remain in a range-bound range as some of the US Fed officials talked about raising interest rates due to the banking crisis in the US. This has strengthened the US dollar, which is putting a brake on gold, equities and some other assets. However, the IIFL Securities expert said that one should continue with stock specific trading as we are well into the results season. He advised intraday traders to know their levels to avoid panic buying due to high volatility in the markets.
on outlook for smelly Today, Anuj Gupta said, “Nifty may face resistance at 17,800 today, but at the same time it has found strong support at 17,550 levels. Hence, traders are advised to maintain buy on dips strategy as the overall trend looks positive with sideways trend on the chart pattern.”
stocks to buy today
But day trading stocks Anuj Gupta for today IIFL Securities Three stocks recommended to buy or sell for today. Here we list the complete information regarding those intraday stocks:
1]JSW Steel: Buy on CMP, Target 767 stop loss 690;
2] Reliance Industries Limited or RIL: Buy on CMP, Target 2400, stop loss 2325; And
3]Axis Bank: Buy on CMP, Target 915 stop loss 854.
Disclaimer: The views and recommendations given above are those of individual analysts or broking companies and not of Mint. We advise investors to do due diligence with certified experts before making any investment decision.
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