Today’s stock market trading settings: The Indian stock market posted a strong rebound last Friday after losing for four consecutive sessions. The Nifty 50 index ended 151 points higher at 22,147 levels, BSE Sensex rose 599 points to end at 73.088 levels, while Bank His Nifty index rose 504 points to end at 47,574 levels. Across the market, the small-cap index ended the week down 1.73%, while the mid-cap index corrected more than 3% in the truncated week that ended last Friday. According to stock market experts, this decline in the Indian stock market could be due to the easing of fears of an Iran-Israel war as neither side confirmed the Israeli airstrike on Tehran. That’s what it means.
Monday trading setup
Commenting on the Nifty 50 outlook today, Neeraj Sharma, AVP Technical and Derivatives Research, Asit C Mehta, said, “Nifty’s short-term trend seems to have reversed after forming a bullish reversal candlestick pattern on Friday. In a few sessions, it could move further towards the next resistance level around 22500 level.”
Also read: Why is Vedanta’s stock price soaring? – explained
Commenting on the outlook for Bank Nifty today, Om Mehra, Technical Analyst, Samco Securities said, “Bank Nifty closed 1.07% higher at 47,574.15 inches, but the index has fallen by almost 2% during the week. “I did.” The Nifty reversed from the support of the uptrend line and the RSI remained neutral at the 50 level. Banknifty’s immediate support lies at 48,200. ”
Commenting on the outlook for the Indian stock market today, expert Asit C. Mehta said, “Following the de-escalation of geopolitical tensions between Israel and Iran, Indian stock indexes have fallen significantly at the open. “After a significant decline, there was a strong rebound on Friday.” It crossed the 22,000 level and closed at 22,147, up more than 350 points from the intraday low of 21,778. Therefore, as long as the index remains above the 22,000 level, the index has regained the support of the 22,000 trend line. “Relief could be restored for 22,300 to 22,500 people.”
Stock market experts on what stocks to buy today – Sumeet Bagadia, Executive Director, Choice Broking. Shiju Koothupalakkal, Technical Research Analyst at Prabhudas Lilladher. Kunal Kamble, Senior Technical Research Analyst at Bonanza Portfolio, recommended his 7 stocks to buy or sell today.
Sumeet Bagadia Stocks to Buy Today
1]Thermax: buy at INR4812, target INR4899, stop loss INR4699.
Daily chart analysis of Thermax stock price shows a steady rise with good prospects for next week. Notably, the stock has produced a notable high-low pattern, with the company’s recent upward swing effectively breaking through the neckline and establishing a new weekly high. This breakout indicates the potential for a significant increase in the stock price.
2] JSW Energy: buy at INR@626.70, target INR666, stop loss INR609.
JSW Energy stock is currently trading at an all-time high. INRIt shows significant bullish momentum with the 638.7 level. The strong volume confirms the recent break above the key resistance at the 610 level, which is an important technical development that highlights the stock’s strength. This finding increases the likelihood that the uptrend will continue, providing a positive outlook for investors.
Shiju Koothupalakkal Stocks to Buy Today
3]Appar Industry: buy at INR7078, target INR7350, stop loss INR6940.
Apar Industries stock has formed higher lows on the daily chart and is taking support nearby INRReaching the 6770 level and witnessing a rebound has improved our bias to expect further upside in the coming sessions. The RSI remains well-positioned after settling out of the overbought zone and could continue to move in a positive direction. I recommend buying stocks with as your first goal. INRKeep stop loss at 7350 level INR6940 level.
Four】 hindustan aeronautics LIMITED OR HAL: buy at INR3751, target INR3915, stop loss INR3670.
HAL stock price remains with a strong bias and is likely to continue with more positive momentum in future trading. The RSI is showing strength and could move significantly higher from current rates. I recommend buying stocks with as your first goal. INRMaintain stop loss at 3915 level INR3670 levels.
5]ITDC: buy at INR645, target INR680, stop loss INR628.
ITDC stock is finding support near the important 100-period moving average after witnessing a short-term correction. INR600 zone and showed a good bounce to improve the bias and look for further upside in the coming sessions. The RSI is in a good position, indicating a trend reversal and providing a buy signal. The strength shown now has the potential to continue moving forward in a positive manner. I recommend buying stocks with as your first goal. INRKeep stop loss at 680 level INR628 levels.
Kunal Kumble stock buying and selling
6]Jindal Streel: buy at INRFrom 925 INR928, target INR1028, stop loss INR875.
Jindal Steel stock regained momentum after the rally and closed near its high, indicating the strength of the rally. An increase in volume suggests that buyers are interested in purchasing the security at the current rate. The price is trading above the fast (50) and slow (200) EMAs, indicating a bullish trend for the security. On the momentum side, the RSI is trading in a higher range, which indicates an uptrend for the security. In terms of direction, DI+ is trading above DI-, which indicates an uptrend, while ADX is trading above DI, indicating strength of the move.
7】SBI card: buy at INRFrom 730 INR734, target INR774, stop loss INR712.
SBI Card stock has broken through the downward parallel channel, indicating a change in trend. On the trend line, the stock is forming a bullish engulfing pattern, which is a short-term reversal pattern. After the decline, the RSI moves northward, supporting the price trend. Price closed above the 50 EMA, indicating bullishness.
Disclaimer: The views and recommendations expressed above are those of individual analysts or brokerages and not of Mint. We recommend checking with a certified professional before making any investment decisions.
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