The Indian stock market closed in the red for the sixth consecutive session on Friday due to heavy selling pressure in banking stocks. The 30-share BSE Sensex ended 136 points lower at 52,793, while the broader NSE Nifty fell 0.16% to end at 15,782. The index posted losses for the fifth consecutive week.
State Bank of India (SBI) was the top laggard after the country’s largest lender reported a 41% rise in Q4 standalone net profit 9,114 crore but failed to meet analysts’ estimates.
for day trading guide stock market today
“Short term trend of Nifty remains negative with high volatility. Further weakness from here or higher is likely and immediate support of 15,670 may be broken next week. Presence of significant support as per Monthly Technical Research Analyst, HDFC Securities Nagaraj Shetty. “The time frame and the overall weekly chart pattern indicate the possibility of a significant downside reversal to the 15,500-15,400 level. A confirmation of the reversal pattern on the daily chart can only open a permanent rally in the market.
stock to buy Or sell today as recommended by analysts –
Mehul Kothari, AVP – Technical Research at Anand Rathi
ABB: Buy ABB Above 2,300, stop loss 2,225, Target 2,450
Balrampur Chini: Buy Balramchani, Stop Loss 375, target 425
Rajesh Bhosale, Technical Analyst, Angel One Limited
Cummins India: Buy CumminsIND, Stop Loss 970, target 1,060
Indus Tower : Sell Industry, Close Loss 191, target 166
Sumeet Bagdia, Executive Director, Choice Broking
Britannia: Buy Britannia, Stop Loss 3,200 target 3,400-3,450
NTPC: Sell NTPC, Stop Loss 150, target 138-135
Avinash Gorakshakar, Head of Research, Profitmart Securities
M&Ms: Buy M&Ms, Stop Loss 865, Target 940
United Spirits: Buy United Spirits, Stop Loss 790, Target 880
The views and recommendations given above are those of individual analysts or broking companies and not of Mint.