Day trading guide for today: Six stocks to buy or sell on Friday — August 25
Day trading guide for today: Despite positive opening, Indian stock market snapped three days rally and ended lower on Thursday. NSE Nifty lost 57 points and closed at 19,386 levels while BSE Sensex shed 180 points and ended at 65,252 mark. However, Bank Nifty index finished 17 points higher at 44,496 levels.
However, rally broad market extended for yet another session. BSE small-cap index added 0.21 per cent while BSE mid-cap index went up 0.11 per cent. On outlook for Nifty today, Nagaraj Shetti, Technical Research Analyst at HDFC Securities said, "A long bear candle was formed on the daily chart, which indicates a formation of bearish engulfing type candle pattern (not a classical one).
The crucial overhead resistance of down sloping trend line has turned out to be a false upside breakout on Thursday. This is negative indication and signal a chances of Nifty sliding down to or break below the immediate support of 19,300 to 19,250 levels in the near term. Any attempt of upside bounce could find strong resistance around 19,550 levels." On outlook for Bank Nifty today, Apurva Sheth, Head of Market Perspectives & Research at SAMCO Securities said, "Bank Nifty showed some resilience and held on to Wednesday’s gains.
Maximum call and put open interest is placed at 44,500. This level is likely to act as a strong support going ahead." On triggers that may dictate stock market today, Siddhartha Khemka, Head - Retail Research at Motilal Oswal said, "All eyes would be on the outcome of the Jackson Hole meeting, which would provide some direction on interest rates going forward. Nifty in the meantime is expected to remain in a narrow range with some stock-specific action in the broader market." Among dividend stocks in August
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