Day trading guide for stock market today: Four stocks to buy or sell on Tuesday — 5th December
Day trading guide for today: Celebrating BJP's victory in three states, Indian stock market extended the participatory rally for yet another session on Monday. Nifty 50 index climbed to a new peak of 20,702 levels, BSE Sensex touched new all-time high of 68,918 mark whereas Nifty Bank index climbed to a new high of 46,484 levels. In broad market, small-cap index climbed to a new peak of 41,221 mark while mid-cap index hit record high of 35,124 levels on the previous session.
"Indian equities celebrated BJP's sweeping victory in the three states by rallying more than 400 points to hit fresh high of 20702 levels. Nifty opened gap up and saw a one side movement to close with gains of 419 points (+2%) at 20689 levels. All sectors ended in green, barring pharma.
Oil & Gas, Banking and financials were top gainers up 3% each. Government related sectors like Infra, Capital Goods, Power, Railways, defence and PSU stocks were in momentum today. The outcome overwhelmingly in favour of the incumbent BJP, strong macroeconomic data and easing global interest rate expectations boosted the market momentum.
Nifty has rallied by 1865 points or 10% from its low of 18837 made in October 23," said Siddhartha Khemka, Head - Retail Research at Motilal Oswal. On outlook for Nifty 50 today, Nagaraj Shetti, Technical Research Analyst, HDFC Securities said, "The next upside levels to be watched are around 20,900 levels, which is a 61.8% Fibonacci extension (taken from the March bottom, September top, and October bottom-weekly chart). Immediate supports are placed around 20,500 and 20,290 levels." On oputlook for Bank Nifty today, Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher said, "Bank Nifty witnessed a big positive
. Read more on livemint.com
