Day trading guide for stock market today: Six stocks to buy or sell on Friday — 22nd December
Day trading guide for today: Indian stock market witnessed a healthy bounce back on Thursday after a sharp selloff seen on Wednesday. Nifty 50 index ggained 104 points and closed at 21,255 levels, BSE Sensex shot up 358 points and ended at 70,865 mark whereas Bank Nifty index finished 394 points higher at 47,840 levels. Broad market indices rose more than the Nifty 50 index even as the advance decline ratio rose sharply to 3.66:1.
"Nifty recovered smartly from lower levels following rebound in global markets and closed with gains of 105 points (+0.5%) at 21255 levels. Broader market outperformed with Nifty Midcap 100 and Smallcap 100 up more than 1.5%. All sectors ended in green with Oil & Gas, PSU Bank and Metals being top gainers.
Niche sector like defence was in focus after companies received order from government. Though market saw profit booking on Wednesday, but the underlying sentiments remain positive given robust micro and macro domestic factors," said Siddhartha Khemka, Head - Retail Research at Motilal Oswal. Also Read: Buy or sell: Vaishali Parekh recommends three stocks to buy today — December 22 On outlook for Nifty 50 today, Kunal Shah, Senior Technical & Derivative Analyst at LKP Securities said, "Nifty recently demonstrated resilience, rebounding strongly from a critical support level at 21000, affirming a bullish sentiment.
The index closed above its 10-day moving average, signaling positive momentum. Key levels to monitor include 21,000 as immediate support and 21,300 as the initial resistance." On oulook for Bank Nifty today, Ashwin Ramani, Derivatives & Technical Analyst, SAMCO Securities said, "Bank Nifty made a sensational recovery, rising sharply to close at 47,840, up 395 points. Strong put
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