Day trading guide for stock market today: Six stocks to buy or sell on Friday — 17th November
Day trading guide for today: Following global market cues, Indian stock market continue to trade higher on Thursday. However, profit booking was witnessed on higher levels ahead of the closing bell. Nifty 50 index ended 89 points higher at 19,765 levels, BSE Sensex finished 306 points up at 65,982 mark.
However, Nifty Bank index shed 40 points and closed at 44,161 levels. In broad market, small-cap index climbed to a new peak of 39,563. "Nifty after opening on a flat note, saw some momentum for major part of the day.
However due to mixed global cues index witnessed selling pressure at higher levels and closed with modest gains of 90 points (+0.5%) at 19765 levels. Majority of the sectors ended in green with buying seen in beaten down counter like IT. With the conclusion of earning season, focus has now shifted to global as well as domestic cues," said Siddhartha Khemka, Head - Retail Research at Motilal Oswal.
On outlook for Nifty 50 today, Nagaraj Shetti, Technical Research Analyst at HDFC Securities said, "Positive chart pattern like higher tops and bottoms is intact on the daily chart. Having reacted down from the key resistance on Thursday, there is a possibility of some more consolidation or minor weakness for the market in coming sessions. At the lower levels, Nifty is expected to find support around 19,600 to 19,550 levels." Dividend stocks: IRCTC, Naukri to MRF — 25 stocks to trade ex-dividend today Speaking on outlook for Bank Nifty today, Om Mehra, Technical Analyst at SAMCO Securities said, "Bank Nifty has remained sideways until dying hours when a sharp selloff pushed the Index to end negatively and below 40 EMA.
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