Day trading guide for stock market today: Six stocks to buy or sell on Thursday — 11th January
Stock market today: On account of Reliance Industries Ltd's (RIL) share price hitting a lifetime high on Wednesday, the Indian stock market extended its Tuesday gains and ended higher for yet another session. The Nifty 50 index finished 73 points higher at the 21,618 level, the BSE Sensex surged 271 points and closed at the 71,657 mark whereas the Bank Nifty index gained 118 points and ended at the 47,360 level. The mid-cap index rose less than the Nifty 50 index even as the advance-decline ratio remained positive at 1.10:1.
"Nifty made a smart recovery in the last hour and closed with gains of 74 points at 21619 levels. Sector-wise it was a mixed bag with buying seen in Media, IT, Metals, and Consumer Durable stocks. Niche sectors like railway stocks were in focus on the back of an increase in the government’s spending on railway infrastructure.
US inflation data to be released on Thursday has kept global investors on edge as it would have an impact on rate decisions. However, the Indian Market is showing strength despite global volatility," said Siddhartha Khemka, Head - Retail Research at Motilal Oswal. On the outlook for Nifty 50 today, Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities said, "The short-term trend of Nifty 50 index seems to have reversed up after a minor decline of the last two sessions.
The 50-stock index is now expected to retest the upper trajectory around 21,750 to 21,850 levels in the next few sessions. Immediate support for the Nifty today is placed at the 21,450 level." On the outlook for Bank Nifty today, Ashwin Ramani, Derivatives & Technical Analyst at SAMCO Securities said, "Bank Nifty consolidated in a range throughout the day to close at 47,361, up 118 points. Heavy put
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