Day trading guide for stock market today: Six stocks to buy or sell on Monday — 4th December
Day trading guide for today: On account of of strong GDP data, Indian stock market ended higher for fourth straight session on Friday. Nifty 50 index touched new life-time high of 20,291 and finished 134 points higher at 20,267 levels.
BSE Sensex gained 492 points and closed at 67,481 mark whereas Bank Nifty index ended 332 points higher at 44,814 levels. In broad market, small-cap index gained 0.48 per cent whereas mid-cap index shot up 0.96 per cent.
On outlook for Nifty today, Nagaraj Shetti, Technical Research Analyst at HDFC Securities said, "The short-term trend of Nifty continues to be positive, and one may expect further upside in the coming week. The next upside levels to be watched around 20510 (50% Fibonacci projection, taken from March 23 bottom-Sept 23 top-Oct 23 bottom).
Immediate support is at 20140." Also Read: Stocks to Watch: Tata Power, GAIL, LIC, Suzlon, Eicher Motors, Hero MotoCorp On outlook for Bank Nifty today, Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher said, "Bank Nifty witnessed a pullback to move past the 44,800 levels to maintain the bias intact and further ahead, as mentioned earlier, needs a decisive close above 45,000 to establish a confirmation to anticipate for further rise in the coming days. On outlook for stock market today, Manish Chowdhury, Head of Research at StoxBox said, "With the results of state elections giving a big victory to BJP in three states and some in-roads in Telangana as well, we expect markets to open with a gap up of atleast 200-250 points on Monday." Also Read: 6 things that changed for the stock market over the weekend Chowdhury went on to add that image of the BJP as a pro-reformist and the performance of the economy on various
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