Day trading guide for today: Five stocks to buy or sell on Thursday — September 21
Day trading guide for today: Following mixed global market sentiments, key benchmark indices of the Indian stock market finished lower for second day in a row on Wednesday. NSE Nifty finished 231 points lower at 19,901 levels, BSE Sensex shed 796 points and closed at 66,800 mark whereas Bank Nifty index dipped 595 points and closed at 45m384 levels. In broad market, small-cap index slipped 0.51 per cent while mid-cap index corrected 0.33 per cent.
"Domestic equities had a subdued start ahead of the US Fed policy outcome and US bond yields at a decadal high. Nifty extended its previous day’s downward trend and closed with a loss of 232 points (-1%) at 19901 levels. All sectors ended in the red.
Weak global cues, surge in oil price to nearly 1-year high, and selling by FIIs are major concerns in the market. However, strong domestic economic data continue to support the market at lower levels. We expect the market to remain cautious in the near term amid major events, while profit booking in the broader market is likely to continue," said Siddhartha Khemka, Head - Retail Research at Motilal Oswal.
On outlook for Nifty today, Nagaraj Shetti, Technical Research Analyst at HDFC Securities said, "The underlying trend of Nifty is weak and the overall chart pattern signal a formation of short term top reversal pattern at the recent new highs. The Nifty is expected to test the crucial lower supports of around 19,750 to 19,600 levels in the near term. Any attempt of upside bounce is expected to find strong resistance around 20,050 to 20,100 levels." On outlook for ank Nifty today, Ashwin Ramani, Derivatives & Technical Analyst at SAMCO Securities said, "Bank Nifty gave a lower close for the second consecutive day and ended at
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