Day trading guide for today: Six buy or sell stocks for Wednesday — July 12
Day trading guide for today: Domestic equity benchmarks Sensex and Nifty extended gains for the second consecutive session ending higher on Tuesday amid broadly positive global cues ahead of the US inflation data - which will influence the next move of the Federal Reserve on rate hikes. Sensex closed 274 points, or 0.42 per cent, higher at 65,617.84 while the Nifty ended the day at 19,439.40, up 84 points, or 0.43 per cent. As many as 33 stocks ended in the green while 15 stocks ended in the red in the Nifty index.
Two stocks - TCS and Kotak Mahindra Bank - ended flat in the index. Nifty Auto (up 1.39 per cent), Consumer Durables (up 1.31 per cent), FMCG (up 1.23 per cent), Healthcare (up 1.18 per cent) and Pharma (up 1.04 per cent) indices rose over a per cent each. On the other hand, Nifty Financial Services (down 0.44 per cent), Nifty Bank (down 0.26 per cent), Metal (down 0.25 per cent) and PSU Bank (down 0.19 per cent) ended in the red.
On the outlook for Nifty today, Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services observes that Nifty has been trading between 19,400-19,500 range for the last six trading sessions and has shown strength at lower levels. ‘’Going forward, we expect the positive momentum to continue on the back of healthy earnings, consistent FII inflows, and improving monsoon. Technology sector is likely to remain in action as TCS and HCL Tech will announce their result on Wednesday.
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