Day trading guide for today: Indian stock market continue to trade choppy on Monday. Nifty 50 index ended 37 points lower at 19,694 levels, BSE Sensex shed 139 points and closed at 65,655 mark whereas Nifty Bank index finished marginally higher at 43,584 levels. In broad market, small-cap index ended higher and logged 0.37 per cent gain on Monday whereas mid-cap index finished marginally lower.
"Global markets were trading mixed after the rally witnessed last week. Domestic index Nifty saw a lackluster session on account of profit booking in index heavyweights and closed with marginal loss of 38 points at 19694 levels. Majority sectors ended in red.
Weakness continued in Financial stocks for second consecutive day after RBI tightened norms for consumer credit," said Siddhartha Khemka, Head - Retail Research at Motilal Oswal. On outlook for Nifty 50 today, Nagaraj Shetti, Technical Research Analyst at HDFC Securities said, "The short-term trend of Nifty continues to be range bound. There is a possibility of some more consolidation or minor weakness in the short term before showing upside bounce from the lows.
Immediate support is placed around 19,600 to 19,550 levels." Also Read: Stocks to Watch: ABB India, Tata Power, RateGain, Tech Mahindra On outlook for Bank Nifty today, Ashwin Ramani, Derivatives & Technical Analyst at SAMCO Securities said, "Bank Nifty has formed a doji candle on the daily chart, which signals indecision. Both the call & put writers battled out at the maximum put open interest strike of 43,500 with the latter winning the battle by a fine margin. The level of 43,800 is a key hurdle for Bank Nifty and a continuation of uptrend is likely upon successful close above the same.Read more on livemint.com