Day trading guide for stock market today: Six stocks to buy or sell on Thursday — 30th November

livemint.com:

Day trading guide for today: Despite mixed global market cues, Indian stock market finished higher on Wednesday. Nifty 50 index ended above 20,000 levels for the first time since September 2023 and closed at 20,096 levels. BSE Sensex registered 727 points gain and closed at 66,901 mark whereas Bank Nifty index gained 685 points and finished at 44,566 levels.

Broad market indices too registered handsome gains but not more than key benchmark indices. "Domestic equities rallied for second consecutive day on back of positive global cues and gains in heavyweights. Nifty surpassed the 20k levels for the first time after September and closed with gains of 207 (+1%) points at 20,097 levels.

Majority of the sector ended in green with buying seen in IT, Banking, Financial and Auto. Market optimism was fuelled by better-than-expected US consumer confidence data and dovish comments from US Fed official Christopher Waller, suggesting rate cut in 2024. Further, upgrade in India’s GDP growth forecast by global rating agency S&P to 6.4% for FY24 and FIIs turning net buyers from last four trading session boosted the sentiments.

All these factors led BSE-listed companies to reach ₹333bn market-cap," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal. On outlook for Nifty today, Nagaraj Shetti, Technical Research Analyst, HDFC Securities said, "The short-term trend of Nifty 50 index continues to be positive. Having witnessed a decisive upside breakout of 19900 levels, there is a possibility of continuation of sharp upside momentum for Nifty in the coming sessions.