Indian stock markets closed with a fall for the third consecutive session on Friday. BSE Sensex closed 59 points lower at 57,832.9 while NSE Nifty Closed at 17,276, down 28 points. On a weekly basis, the Sensex fell 0.55% and the Nifty lost around 0.56%.
Sector wise, realty, oil & gas, basic materials, healthcare and energy index were the biggest losers. According to analysts, the stock markets may face volatile trading sessions this week and will be guided by global cues, rupee momentum and crude oil prices.
day trading guide for stock market today
“Short term trend of Nifty remains volatile. Nifty’s inability to sustain above 17500 levels may lead to an eventual downside correction and possibly take Nifty to recent lows of 16840 Immediate support is placed at the level of 17150,” said Nagraj Shetty, Technical Research Analyst, HDFC Securities.
Nifty is placed at an important trend line support at the 17000 level on the weekly chart. The formation of upper and lower shadows in the small positive weekly candle indicates the presence of high volatility in the market, he highlighted.
Stocks to buy or sell today as per analyst advice –
Sumeet Bagdia, Executive Director, Choice Broking
India Cements: Buy IndiaSem, Target Price 220-225, stop loss 204
Firstsource Solutions: Sell FSL, Target 122-120, stop loss 131
Avinash Gorakshakar, Head of Research, Profitmart Securities
Voltas: Buy Voltas, Target 1,310, stop loss 1,220
L&T: Buy LT, Target 1,945, stop loss 1,850
Anuj Gupta, Vice President, IIFL Securities
BHEL: Buy BHEL, Target 60, stop loss 48
Coal India: Buy COALINDIA, Target 185, stop loss 159
The views and recommendations given above are those of individual analysts or broking companies and not of Mint.
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