Day trading guide for stock market today: Six stocks to buy or sell on Monday — 25th October
Day trading guide for stock market today: Following weak global market cues, Dalal Street ended lower on fourth day in a row on Monday. Nifty 50 index ended 260 points lower at 19,281 levels, BSE Sensex shed 825 points and closed at 64,571 mark while Bank Nifty index lost 571 points and finished at 43,151 levels. Broad markets indices fell more than the Nifty even as the advance decline ratio fell sharply to 0.13:1, the lowest in 10 months.
On outlook for Nifty 50 index, Nagaraj Shetti, Technical Research Analyst at HDFC Securities said, "The short term trend of Nifty continues to be negative. Having moved below the support of 19330, one may expect Nifty to slide down to 18825 levels-200 day EMA in the near term. Any attempt of upside bounce could encounter resistance around 19400 levels." On outlook for Bank Nifty today, Ashwin Ramani, Derivatives & Technical Analyst at SAMCO Securities said, "Bank Nifty continued to move in a lower high formation throughout the day to end at 43,151, down 572 points.
Massive long unwinding was observed at 43,500 & 43,600 Strikes, which led to a sharp slide in Bank Nifty today. Bank Nifty closed below its key support of 43,400 on the daily chart. The next visible support for Bank Nifty is placed at 42,600 level.
A resumption of an uptrend is likely only upon successful close above 43,900 level." Board meeting of Sonata Software will be under the radar of stock market investors and obserers as the company board is going to consider and approve interim dividend for FY24 and bonus shares. Investors are expected to remain vigilant about the board meeting outcome of Tech Mahindra as the company board is going to consider and announce interim dividend for the financial year 2023-24. Among
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