“Domestic Markets Continue to Rise: Day Trading Guide for Today”
Domestic equity benchmarks Sensex and Nifty 50 have seen a positive trend for the third consecutive day, with gains in telecom, tech, and consumer durable shares. The global markets have also shown strength, leading to a rise in the Indian markets. The volatility index has dropped significantly, indicating stability and predictability in the market.
Sensex closed with a slight gain of 90 points, driven by shares of Bharti Airtel, ITC, Infosys, and SBI. However, there were losses in shares of Reliance Industries. Nifty 50 also closed higher, gaining 32 points. Both indices have seen a cumulative increase of about 1.7% over the past three sessions, with mid and small-cap indices outperforming the benchmarks.
Market experts have commented on the current scenario, with Vinod Nair from Geojit Financial Services mentioning the positive global cues and sustained outperformance of the broader market. Ajit Mishra from Religare Broking Ltd expects a positive tone in the market, with traders advised to focus on stock-specific approaches.
On the technical front, analysts like Rupak De from LKP Securities have highlighted key resistance and support levels for Nifty, suggesting a potential rally if certain levels are breached. Similarly, Kunal Shah from LKP Securities has provided insights on the Bank Nifty index, indicating bullish sentiment and buying opportunities on dips.
Global cues have also been favorable, with Wall Street stocks rising for the second consecutive session. Tesla’s positive earnings report and a rise in international crude oil prices have further boosted market sentiments. Gold prices, however, have seen a decline due to reduced tensions in the Middle East.
Several companies are set to declare their quarterly results today, including Axis Bank, Hindustan Unilever, and Tata Consumer Products. Stocks like Sudarshan Chemical Industries, Chambal Fertilizers & Chemicals, and Rail Vikas Nigam Ltd have been recommended by experts for intraday trading, with detailed analysis and target prices provided.
Overall, the market outlook remains positive, with a focus on specific stocks and technical indicators guiding trading decisions. Investors are advised to stay informed and consult with experts before making any investment decisions.
