Day trading guide for today: Five stocks to buy or sell on Tuesday — August 8
Day trading guide for today: Amid mixed global market cues, Indian stock market ended higher for second straight session on Monday. NSE Nifty added 80 points and closed at 19,597 levels while BSE Sensex shot up 232 points and ended at 65,953 mark. However, Bank Nifty shed 42 points and closed at 44,837 levels.
In broad market, small-cap index added 0.26 per cent whereas mid-cap index gained to the tune of 0.56 per cent. On outlook for Nifty today, Nagaraj Shetti, Technical Research Analyst at HDFC Securities said, "The negative chart pattern like lower tops and bottoms is intact as per daily timeframe chart. Presently, the market is in line with another lower top formation, which needs to be confirmed with decline from the highs.
Immediate support for Nifty today is placed at 19,450 and any upside from here could encounter strong resistance around 19,700 levels." On stock market triggers that may dictate Dalal Street today, Siddhartha Khemka, Head - Retail Research at Motilal Oswal said, "Markets are likely to trade in a range ahead of RBI policy this week. FIIs continued their selling streak for the last few days, thus keeping the upside limited. We expect sector- and stock-specific actions to continue." Market is expected to remain vigilant about the outcome of board meeting of Vascon Engineers and Talbros Automotive Components.
The board of directors of Vascon Engineers are going to consider and approve interim dividend for the financial year 2023-24 whereas Talbros Automotive Components board is going to consider the proposal for stock split. Seven stocks are going to trade ex-dividend today and those seven dividend paying stocks include Taneja Aerospace, Power Grid Corporation, Sterlite Technologies, etc. Rekha
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