Stock market today: Despite the onset of a gap down, Indian stock markets staged a strong rebound and ended Thursday with gains for the fifth straight day. Nifty 50 index rose 167 points to end at 22,570 levels, BSE Sensex rose 486 points to end at 74,399 levels and Bank Nifty index rose 305 points to end at 48,494 levels. In the overall market, the small cap index outperformed the Nifty 50 index even as the advance/decrease ratio remained strong at his 1.19:1.
Trade setup or Friday
Commenting on the outlook for the Nifty 50 index, Neeraj Sharma, AVP, Technical Derivatives Research, Asit C Mehta, said, “The bulls took control of Dalal Street even on the F&O expiration day and continued to rise for five consecutive sessions. ” he said. The VIX rose 4.42% to 10.73 and volatility increased as traders rotated their holdings in the F&O sector from April to May. Finally, Nifty technically closed at 22,570. Since the index has crossed the bearish gap around 22,500 level and is above it, the index may continue its uptrend and try to break the Nifty’s short-term support levels of 22,500 and 22,300. , the Nifty small cap index hit an all-time high with resistance near 22,780 and 23,000, while the midcap index is still 1% away from its previous high. ”
Also read: Buy or sell: Vaishali Parekh recommends 3 stocks to buy today — April 26
Commenting on the outlook for Bank Nifty today, Jatin Gedia, Technical Research Analyst, Sharekan, BNP Paribas, said, “The sudden reaction has been bought and Bank Nifty has been prudent after closing mostly lower.” The stock made a strong recovery and was able to close the session up almost 300 points.” The momentum is expected to continue going forward and we should use the slight pullback as a buying opportunity, the next hurdle is he at 49,000 with a trailing stop loss of 20. -Time moving average. ”
Revealing today’s intraday trading strategy for the Indian stock market, Rajesh Bhosale, Technical Analyst at Angel One, said, “The recent rally has been particularly noticeable since Friday, reflecting the expansion of market participants and the trend of push buying.” This trend is expected.” Traders are likely to test previous highs in the coming sessions and are advised to maintain a positive outlook to take advantage of buying opportunities during market declines. However, selectivity is critical at this stage, as the low-hanging fruit has already passed. ”
Also read: Gold price falls $100 from all-time high as US Treasury yields rise
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, Prabhudas Lilladher. Kunal Kumble, senior technical research analyst at Bonanza Portfolio, recommended seven stocks to buy or sell today.
Sumeet Bagadia Stocks to Buy Today
1]ICICI Bank: buy at INR1113.75, target INR1160, stop loss INR1087.
ICICI Bank share price has shown remarkable resilience and is at a pivotal support level INR1087, close to the 20-day exponential moving average (EMA). The stock, currently trading at 1113.75, is showing a positive trajectory indicating underlying strength. Importantly, trading above key moving averages reinforces the stock’s solid position.
2]Carborundum Universal: buy at INR1415, target INR1499, stop loss INR1366.
The current stock price of Carborundum Universal is INR1414.85. After a period of small declines and flat consolidation, the stock price recently broke through the neckline level. INR1350 and is rapidly gaining upside with significant volume.Further increases are expected, potentially INR1499 levels. On the downside, it is clear that there is considerable support nearby. INR1366.
Stocks to buy today in Shiju Koothupalakkal
3]Recording: buy at INR451, target INR475, stop loss INR440.
REC stock price is INR415 zone and witnessed a decent decline with support from this level. The RSI has recovered nicely and is now in a good position, indicating a trend reversal that could be a buy signal with significant upside potential based on current levels. We recommend buying the stock at the initial target price. INRmaintain stop loss at 475 INR440 levels.
4]GMR Infrastructure: buy at INR885, target INR90, stop loss INR83.
GMR Infrastructure stock has formed a low formation pattern on the daily chart and is receiving support nearby. INR78 zone and above the important 50 EMA level. INR82 has improved its bias and the RSI is trending upwards, indicating strength and allowing for further positive movement. Since the chart looks good, I recommend buying the stock with the first goal in mind. INR90 maintain stop loss INR83 levels.
5]IRFC: buy at INR150, target INR162, stop loss INR146.
IRFC stock has shown improvement after a period of consolidation within a range and recently crossed the important 50 EMA level. INR141.50 has more bias and is expected to perform well in the coming days. The RSI is trending upwards, indicating a trend reversal that could be a buy signal, so it may continue to be positive. We recommend buying the stock at the initial target level of 162 while maintaining the stop loss. INR146 levels.
Kunal Kumble stock buying and selling
6]Concore: buy at INRFrom 1010 INR1012, target INR1087, stop loss INR973.
CONCOR stock regained momentum after the rally and ended near a high indicating upward momentum. 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] UPL: buy 505.50 INR506.50, target INR535, stop loss INR490.
A breakout of the cup and handle pattern has been witnessed in the UPL. A steady increase in volume indicates that buyers are interested in purchasing the security. The price is trading above the 50 EMA, indicating an uptrend for the security. After cooling down, the RSI has started trading northward, supporting the trend. DI+ trading above DI- indicates positive strength, while ADX trading above DI- indicates price movement strength.
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.
Unlock a world of benefits! From insightful newsletters to real-time inventory tracking, breaking news and personalized newsfeeds, it’s all here, just a click away. Log in here!
