Stock market today: Despite falling in morning trading, the Indian stock market showed its resilience with a strong rebound and closed higher on Monday. The Nifty 50 index ended 48 points higher at 22,104 and the BSE Sensex ended 111 points higher at 72,776. Banknift index rose 333 points to settle at 47,754. Notably, the NSE’s spot market volume increased to Rs 0,980 crore. Although the small-cap index ended slightly lower, with the advance-to-expenditure ratio dropping to 0.70:1, the overall market recovery is an encouraging sign for potential trading and highlights the resilience of the market.
Tuesday trading settings
Commenting on the outlook for the Nifty 50 index, Ganesh Dongre, Senior Manager, Technical Research, Anand Rati said, “The Nifty 50 index closed near the support level in the 21800-21900 zone. If it holds, we will see an uptrend in the Nifty in the coming days.The next resistance level for the frontal index is 22,300, after which we saw a gap opening. Markets are on an uptrend. Most indexes ended the rest of the day in positive territory, with the exception of oil and gas, textiles and auto sectors, so if Nifty holds, we could see further short covering in the coming trades. 21800-21900 level.
Also read: Buy or sell: Vaishali Parekh recommends 3 stocks to buy today – May 14
“On the Bank Nifty front, the frontline index witnessed short covering in the second half of the trading session and closed in positive territory.Thus, the immediate resistance for Bank Nifty is today at 48,500 with support starting at 47,000. 47,300 level,” Dongre said.
Commenting on the outlook for the India VIX index today, Sumeet Bagadia, Executive Director, Choice Broking, said, “The India VIX index has finally broken the resistance level set at 19, which means that the volatility index of the Indian stock market will further increase. The index now indicates that if it decisively clears this hurdle, India’s VIX index is expected to reach the 25 mark soon.
Buy and sell stock ideas with experts
Choice Broking’s Sumeet Bagadia on stocks to buy today. Anad Rati’s Ganesh Dongre. and Prabhudas Lilladher’s Technical His Research His analyst Shiju Koothupalakkal meticulously recommends 8 stocks to buy and sell today, providing an informed guide to your trading decisions. To do.
Sumeet Bagadia Stocks to Buy Today
1]Sun Pharma: buy at INR1525, target INR1620, stop loss INR1480.
Sun Pharma’s stock price is currently valued at: INR1525.15. Having recently consolidated its bottom, it is showing signs of a breakout, indicating a bullish reversal with solid trading volume. These patterns suggest a potential upward trajectory for the stock, giving us optimism about the potential of this investment. The Relative Strength Index (RSI) is currently at 48.67 and trending upwards, indicating significant buying momentum. Both the RSI and Stochastic RSI are in overbought territory, suggesting that position traders may consider holding their positions and implementing a trailing stop-loss strategy.
2]ICICI Bank: buy at INR1128, target INR1200, stop loss INR1100.
ICICI Bank share price has shown remarkable resilience and is at a pivotal support level INR1100. The stock is currently trading as follows. INR1128 shows a positive trajectory indicating fundamental strength. Importantly, ICICI Bank stock is trading above key moving averages, reinforcing its solid position.
Ganesh Dongre Stocks to Buy Today
3]State Bank of India or SBI: buy at INR810, target INR850, stop loss INR797.
This stock sees significant support INR797. Therefore, at present, SBI stock price is again showing reversal price action formation. INRThe 810 price level is likely to continue rising to the next resistance level. INR850. Therefore, a trader can buy and hold this stock with a stop loss. INRTarget price is 797 INR850 in the short term.
Four] federal bank: buy at INR162, target INR170, stop loss INR155.
In the short-term trend, Bundesbank stock shows a bullish reversal pattern and a contraction could technically be possible until the next period. INR170. Therefore, maintaining the support level INR155, Federal Bank stocks could rebound towards levels INR170 in the short term. Therefore, traders can follow stop losses. INRTarget price is 155 INR170.
5]HCL Technology: buy at INR1313, target INR1365, stop loss INR1280.
This stock sees strong support INRTherefore, at the current moment, HCL Tech stock is once again showing reversal price action and the formation of a bullish candlestick pattern. INR1313, it is likely to continue rising to the next resistance level. INR1365. Therefore, a trader can buy and hold this stock with a stop loss. INRTarget price is 1280 INR1365 in the near future.
Buying and selling shares of Shiju Koothupalakkal
6]GMR Infrastructure: buy at INR82.35, target INR85, stop loss INR81.
GMR Infrastructure’s stock price has almost hit bottom. INRThere is consolidation in the 78 zone, which is currently showing a positive candlestick formation on the daily chart, improving the bias in hopes of further upside in the coming sessions. The RSI is well-positioned and indicates a trend reversal that could be a buy signal with the potential for further upside from current rates. We recommend buying stocks as your first goal. INRmaintain stop loss at 85 INR81.
7]Olectra Green: buy at INR1625, target INR1720, stop loss INR1594.
After considerable erosion, Olectra Green’s stock price is showing signs of bottoming out, with the pullback improving the bias due to increased volume participation. The RSI has recovered well from the oversold zone, indicating a trend reversal that suggests buying. We recommend buying stocks as your first goal. INRMaintain stop loss at 1720 INR1594.
8]BHEL: buy at INR283.30, target INR296, stop loss INR277.
After short-term adjustment, BHEL stock price stabilized and found nearby support INRAt the 267 level, we saw a rebound with positive candlestick formation on the daily chart, which improved the bias. The RSI has also eased out of the overbought zone and is now in a good position, indicating a trend reversal that suggests buying. Since the chart looks good, I recommend buying the stock with the first goal in mind. INRMaintain stop loss at 296 INR277 levels.
Disclaimer: The views and recommendations provided in this analysis are those of individual analysts or brokerages and not of Mint. Because market conditions can change rapidly and individual circumstances may vary, investors are strongly encouraged to consult a certified professional before making any investment decisions.
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