Day trading guide for stock market today: Six stocks to buy or sell on Monday — 1st January
Day trading guide for today: Key benchmark indices of the Indian stock market gave up its five days winning streak and ended the last trade session of 2023 on a flattish note amid profit booking in select heavyweights. Nifty 50 index remained in negative territory throughout the session and closed with minor loss of 22 points at 21,731 levels. BSE Sensex finished 0.23 per cent lowe at 72,240 levels whereas Nifty Bank index lost 0.45 per cent and ended at 48,292 levels.
However, broader market outperformed with Nifty Mid-cap 100 and Nifty Small-cap 100 up 0.8 per cent and 0.6 per cent respectively. "Domestic equities gave up its five day winning streak and ended the last day of the year on a flattish note amid profit booking in select heavyweights. Nifty remained in negative territory throughout the session and closed with minor loss of 22 points at 21731 levels.
However, broader market outperformed with Nifty midcap 100 and Nifty Smallcap 100 up 0.8% and 0.6% respectively. Sector wise it was mixed bag with buying seen in Auto, FMCG, Realty and Metals. Auto and EV stocks recorded smart rally after the news that government is working on a plan to replace 800,000 diesel buses with electric over next seven years," 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 uptrend status of Nifty remains intact. There is a possibility of short-term consolidation or range movement for the next 1-2 sessions before resuming its upside momentum in the coming sessions. Immediate support for Nifty today is placed at 21,550 and the next upside targets are to be watched around 22,000 and 22,200 levels." On
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