Day trading guide for stock market today: Six stocks to buy or sell on Thursday — December 28
Day trading guide for today: On account of strong global cues, Indian stock market extended its rally on fourth day in a row on Wednesday. All three key benchmark indices touched a new peak and ended at record closing highs respectively. Nifty 50 index touched a new peak of 21,675 while BSE Sensex hit a new record high of 72,119 mark.
Bank Nifty index hit a new life-time high of 48,347 mark. Broad market indices rose less than the Nifty even as the advance-decline ratio after falling managed to remain in the positive at 1.07:1. "Domestic equities surged higher supported by positive global cues and sharp decline in India’s current account deficit to 1%.
Nifty made a fresh high of 21676 supported by buying in index heavy weights and closed with handsome gains of 213 points (+1%) at 21655 levels. All sectors ended in green, baring Oil & Gas. PSU Banks and Metals were top gainers today up 1-2% each.
Cement sector was in limelight on the expectation of strong volume growth. Healthy macro data and rally in global markets helped Nifty to make new highs even in the in the holiday season," said Siddhartha Khemka, Head - Retail Research at Motilal Oswal. Also Read: Buy or sell: Vaishali Parekh recommends three stocks to buy today — December 28 On outlook for Nifty 50 index, Nagaraj Shetti, Senior Technical Research Analyst at HDFC securities said, "Positive chart patterns like higher tops and bottoms are intact as per the daily chart and currently, the Nifty is moving towards the new higher top formation.
Still, there is no confirmation of any higher top reversal at the highs. Having breached above the immediate resistance of 21,550 to 21,600 levels, there is a possibility of more upside in the short term. The next upside targets
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