today’s indian market: The Indian stock market’s main benchmarks, the Sensex and Nifty 50, closed lower on Tuesday, April 9, after hitting new record highs as global indexes remained weak. Sensex opened at 75,124.28, higher than the previous close of 74,742.50 and touched a new high of 75,124.28 during the session. However, giving up all the gains, it fell 59 points (0.08%) on the day to settle at 74,683.70. On the other hand, Nifty 50 opened at 22,765.10 and reached a high of 22,768.40, compared to the previous close of 22,666.30, but ended up declining by 24 points (0.10%) to end at 22,642.75.
Also read: New heights: 8 Nifty 500 stocks enter the rankings INR10,000 clubs in the past year
“The Sensex & Nifty hit lifetime highs on the auspicious day of Gudi Padwa, but the market closed flat due to a negative bias on some profit-taking sellers.Although fundamentals remain strong. , widening valuations allows investors to book profits at regular intervals. Investors are weighing in on rising oil prices and the Federal Reserve’s inability to cut interest rates amid stubborn inflation. “We remain cautious and uncertainties may rise going forward. The immediate hurdle for Nifty appears to be the 22771 mark, while support for the index lies at the 22255 level,” said Mehta Equities, Senior Vice President, Research. said Prashanth Tapse, who is in charge of the project.
Today’s stock market day trading guide
Commenting on the outlook for Nifty 50 today, Rupak De, Senior Technical Analyst, LKP Securities said, “Nifty started higher but struggled to withstand selling pressure at high levels.On hourly charts. RSI (14) is showing a bearish divergence.”
Commenting on Bank Nifty’s outlook today, Kunal Shah, Senior Technical & Derivatives Analyst, LKP Securities said, “Bank Nifty crossed the 49,000 mark during the day, indicating resilience at higher levels. There is support at 48,000, which is consistent with significant open interest.” ”
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Buy and sell stock ideas with experts
Stock market experts on what stocks to buy today – Sumeet Bagadia, Executive Director, Choice Broking. Shiju Koothupalakkal, Technical Research Analyst at Prabhudas Lilladher. Bonanza Portfolio Technical Analyst Durmil Visrani recommended seven stocks to buy or sell today.
Sumeet Bagadia Stocks to Buy Today
1]Apollo Hospital: Purchase at INR6505, target INR6930, stop loss INR6280
APOLLOHOSP is currently INR6505. The stock has recently formed a cup-and-handle pattern on the daily chart, suggesting it could move higher at the expected target price. INR6930 and INR7,000. In particular, considerable support has been revealed. INR6280.
Additionally, APOLLOHOSP is trading above major exponential moving averages (EMAs) including 20-day, 50-day, 100-day, and 200-day EMAs, indicating strong bullish momentum. The Relative Strength Index (RSI) is at 59.37, confirming the upward trajectory and confirming the increasing buying momentum.
To effectively manage risk, we recommend setting your Stop Loss (SL) as follows: INR6280, protect your investments from unexpected market reversals. A smart strategy includes considering buying opportunities during market downturns. INR6395.
In summary, based on technical analysis and general market conditions, APOLLOHOSP appears to offer a promising buying opportunity for those targeting its price objective. INR6930 and INR7,000, subject to the implementation of prudent risk management measures.
2]Aurobindo Pharma: Purchase at INR1131.95, target INR1200, stop loss INR1095
Auro Pharma has rebounded from the support range of 1090-1095 levels, indicating the stock’s resilience. Currently trading at the 1131.95 level, it maintains a position above key moving averages including the short-term (20 days), medium-term (50 days) and long-term (200 days) EMA, indicating bullish sentiment. .
Momentum indicators have also recovered, with the Relative Strength Index (RSI) currently trending upwards at the 64.05 level, further supporting the stock’s positive momentum.
Going forward, we expect some resistance near the all-time high 1177 level. Above this level, AUROPHARMA is poised to move towards the target price of 1200 and above.
Investors may consider taking advantage of the recent pullback from support levels and accumulating a position in Auro Pharma. However, practicing prudent risk management requires setting stop loss levels to reduce potential downside risk. Monitoring price movement around the 1177 resistance level will be crucial in gauging the stock’s ability to maintain upward momentum and validating the bullish outlook.
In the short to medium term outlook, you can buy AUROPHARMA at CMP 1131.95, SL 1095 with a target price of 1200.
Also read: Sensex 100,000 years old? Mark Moebius says about Indian stock market:
Buying and selling shares of Shiju Koothupalakkal
3]EID-Parry (India): Purchase at INR608.80, target INR640, stop loss INR595
The stock price has recovered considerably after a period of consolidation, improved its bias by surpassing the important 50 EMA level, the 584 zone, and is currently in a bullish candlestick formation on the daily chart, so we are looking forward to further upside. has been strengthened. day to day. Since the RSI is also trending up and showing strength, we recommend buying the stock at the initial target of the 640 level while keeping losses at the 595 level.
4]Mishra Datu Nigam: Buy at INR418, target INR435, stop loss INR409
The stock regained strength after consolidating around the 360 zone and has since maintained above the confluence of the 50 EMA and 100 period MA at the 408 and 412 levels, respectively, and is currently holding a positive candle to improve the bias. It is a foot formation, and further rise is expected in the future. day to day. The RSI has rebounded strongly and is now well positioned and showing strength. Since the chart looks attractive, we recommend buying the stock with a stop loss at 409 and an initial target of 435.
Also read: 23,000 or 25,000? How experts see India’s benchmark Nifty 50 by the end of FY2025
Drumil Vithlani Stocks to Buy Today
5]SBI Card: Purchase at INR751-752, target INR780, stop loss INR736
The Sbi card appears to have broken out of the downward channel pattern and subsequently retested on the daily time frame, forming a strong bullish candlestick. Therefore, purchase recommendations will be initiated for the following targets: INR780 You can start buying the dip in the 751-752 range with a stop loss below 736 based on the daily closing price. The price is trading above the short-term EMA (20), indicating an uptrend for the security. The RSI is currently trading in a northerly direction supporting price movements.
6]Petronet LNG: Purchase at INR288-289, target INR300, stop loss INR284
Petronet is seen to be breaking out of the hourly cup-and-handle pattern and forming a bullish candlestick, which has triggered a buy recommendation against a target of up to Rs 300. You can initiate a buy on a push in the 288-289 range with a stop loss below 284 on a daily closing price basis.
Disclaimer: The views and recommendations expressed above are those of individual analysts, experts, and brokerages and not of Mint. We recommend checking with a certified professional before making any investment decisions.
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