Day trading guide for Friday: Six stocks to buy or sell today — July 14
Day trading guide for today: On account of strong global market sentiments, Indian stock market finished higher on Thursday session, 50-stock index Nifty added 29 points and ended at 19,413 levels while 30-stock index BSE Sensex gained 164 points and closed at 65,558 mark. Bank Nifty went up 25 points and closed at 44,665 levels.
In broad market, small-cap index went down 0.54 per cent whereas mid-cap index corrected to the tune of 0.64 per cent. On outlook for Nifty today, Nagaraj Shetti, Technical Research Analyst at HDFC Securities said, "We observe minor degree of higher lows and the overall trend status for Nifty remains positive.
Any weakness below the immediate support 19,300 could drag Nifty down to 19,200-19,100 levels in the near term. A decisive upside above 19,550 is likely to bring more upside for the short term." On outlook for Bank Nifty today, Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher said, "Bank Nifty witnessed a decent pullback in the initial hours but fizzled out in the second half to erode the gains and close on a flat note.
The 44,500 levels still as an important support zone breaching which the trend can turn weak overall. Bank Nifty today would have the daily range of 44,400-45,000 levels." Asked about major triggers that may dictate Indian stock market today, Siddhartha Khemka, Head - Retail Research, Motilal Oswal said, "Fall in the US CPI data to 2-year low boosted investor sentiments putting to rest some of the concerns with regards to US Fed rate hike.
However, on the domestic front, inflation came in at 3-month high due to high vegetable prices which somewhat worried investors. On the other hand, primary market continues to do well with most of the IPOs over
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