Day trading guide for today: Six stocks to buy or sell on Tuesday — August 22
Day trading guide for today: On account of rally in metal, power and IT stocks, Dalal Street ended higher on Monday. NSE Nifty gained 83 points and ended at 19,393 levels, BSE Sensex surged 267 points and finished at 65,216 mark whereas Bank Nifty index added 150 points and closed at 44,002 levels. However, broad market outperformed key benchmark indices.
Small-cap index surged 0.71 per cent whereas mid-cap index shot up 0.87 per cent. On outlook for Nifty today, Nagaraj Shetti, Technical Research Analyst at HDFC Securities said, "Though, Nifty placed at the immediate supports, there is a lack of strength observed in the upside bounces. Hence, such repeated testing of the supports without showing any significant upside bounces could eventually result in a decisive downside breakout of the said supports.
Further upside from here could encounter strong hurdle around 19,500 levels." On outlook for Bank Nifty today, Ashwin Ramani, Derivatives & Technical Analyst at SAMCO Securities said, "Bank Nifty broke the key resistance level of 43,950 on Intraday basis and closed at 44,002, up 151 points. Short covering was observed at 43,800 and 43,900 Strikes, which led to a strong up move in the index today. Bank Nifty has been consolidating in the 43,700 to 44,100 in the last five trading sessions.
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