Buy or Sell Stock: Inspired by strong Q4 income from major private sector lenders like ICICI Bank and HDFC Bank, the Indian stock market ended more for the fifth straight session on Monday. The Nifty 50 index finished 273 points at 24,125, the BSE Sensex shot north towards 79,408 at a distance of 855 points, while the bank Nifty index scored 1,014 points and closed at 55,304.
The sectoral performance was widely positive. Nifty It increased 2.5%, led by strong tricks in Tech Mahindra and HCL Tech. The Nifty Auto is more than 2%advanced, while metal, oil and gas, PSU bank, and realty index each posted benefits are more than 2%. On the negative side, by reducing the Nifty FMCG index, about 1%slipped, ITC, Hindustan Unilever and Varun dragged less than loss in Beverages. Extensive markets beat the frontline indices, climbing the Nifty Midcap 100, 2.5% and the Nifty Small Cap 100 growing 2.2%, showing strong participation in the market spectrum.
Stock Market Today
Vary Parekh, Vice President of Technical Research in Prabhudas Lilader, believes that the Indian stock market is in a bull trend. The Nifty 50 index scored a psychologist 24,000 points and closed above 24,100, indicating that the index is set to touch 24,800 and 25,300 levels.
Speaking on the outlook of the Nifty 50 today, Vaishi Parekh said, “The Nifty 50 index carried forward the profit with a strong session and once again looked at the above 24,050 levels to close above the 200-period MA and supported the movement upwards in the coming days. In the coming days, there is a need to maintain a 100-term MA.
“The bank Nifty Index looked up to another strong upward to record a high -level scaling above 55,000 zones. It is a strong area with a holistic positive trend. As mentioned earlier, the index will have the next inverted targets of 56,200 and 57,500 levels, with a significant target of 53,800 levels.”
Parekh said that today support for Nifty is placed at 24,000, while resistance is at 24,400. The daily range of bank Nifty will be 54,700 to 56,000.
Vary Parekh’s stock recommendations today
Regarding shares to buy today, Vary Parekh recommended stocks to buy or sell these three: Castrol, MRPL, and JSW Energy.
- Castrol: Purchase 205, target 215, Stop Loss 200;
2. mrpl: Purchase 141, target 153, loss stop 135; And
3. JSW Energy: Purchase 522, target 550, closed loss 508.
Disclaimer: The views and recommendations given in this article are of individual analysts. They do not represent the ideas of Taaza Khabar 247. We recommend investors to investigate with certified experts before taking any investment decisions.
