Indices extended gains with a gain of 130 points in the benchmark BSE Sensex, while Nifty extended gains for the fifth consecutive session in a range-bound trade on Friday as trade in oil and gas, metal and power stocks rose. Recovering from its early losses, the 30-share BSE index ended 130 points higher at 59,462, while the NSE Nifty ended 0.2% higher at 17,698.
The broader markets were up with the BSE Midcap index up 0.15% and the Smallcap gauge up 0.39%. BSE Electricity, Oil & Gas, Metals and Energy rose up to 2.47 per cent, while IT, Healthcare and Auto suffered losses.
Major indices also posted gains for their fourth straight week as the Sensex rose 1,074 per cent or 1.8% and the Nifty rose 300 points or 1.9% on a weekly basis. According to analysts, this week, equities will track global trends, inflation data, foreign fund inflows and volatility in crude oil prices.
for day trading guide stock market today
“Short term trend of Nifty remains positive with range bound action. The volatility can be expected to continue in the initial week and by next week Nifty can reach around 17800-17900 levels. After placing the hurdle, the bulls need to be cautious and protect the long positions with proper stoplosses. “Immediate support is placed at 17,560 level,” said Nagraj Shetty, Technical Research Analyst, HDFC Securities.
stocks to buy today As recommended by analysts –
Vaishali Parekh, Vice President – Technical Research, Prabhudas Lilladher Pvt. Ltd.
Bharat Electronics: Buy BEL, Stop Loss 285, target 306
Ambuja Cement: Buy Ambuja Cement, Stop Loss 375, target 404
Mehul Kothari, AVP-Technical Research, Anand Rathi
ICICI Bank: Buy ICICI Bank, Stop Loss 855, Target 900
Ambuja Cement : Buy Ambujacem, Stop Loss 375, target 400
Rajesh Bhosale, Technical Analyst, Angel One
Central Depository Services (India) Limited : Buy CDSL, Stop Loss 1,149, target 1,300
Aditya Birla Fashion & Retail: Buy ABFRL, Stop Loss 275.8, Target 315
The views and recommendations given above are those of individual analysts or broking companies and not of Mint.
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