Day trading guide for stock market today: Six stocks to buy or sell on Friday — December 29

livemint.com:

Day trading guide for today: On account of strong sentiments in Asian stock market, Dalal Street ended higher for fifth straight session on Thursday. Nifty 50 index ended at 21,778 levels after climbing to a new peak of 21,801. BSE Sensex finished at 72,410 levels after hitting record high of 72,484.

Bank Nifty closed at 48,508 mark after touching new life-time high of 48,636. The Midcap index rose more than the Nifty while Smallcap index rose less even as the advance decline ratio fell to 0.80:1. "Nifty touched fresh all-time highs and finally closed near day’s high with gains of 124 points (+0.6%) at 21779 levels.

Broader market ended in green in line with benchmark. All sectors closed in positive territory, barring consumer durables. Oil & Gas, Metals and Pharma were major gainers.

Jewellery stock were in momentum after gold prices climbed to over three-week highs amid fall in dollar and bond yields to multi-month low. Markets has been gaining for five consecutive trading session on back of optimism over expected growth next year. Global markets too were supportive as investors hope for early rate cut in 2024.

Also, FIIs have turned net buyers after being seller for six consecutive days," said Siddhartha Khemka, Head - Retail Research at Motilal Oswal. On outlook for Nifty 50 today, Nagaraj Shetti, Senior Technical Research Analyst at HDFC securities said, "The near-term trend of Nifty 50 continues to be positive. Having moved above the initial hurdle of 21,650 levels, the Nifty is expected to advance towards the next overhead resistance of 22,200 levels in the near term, which is near the 100% Fibonacci extension of major bottom-top-bottoms.