Day trading guide for today: Six stocks to buy or sell on Friday — September 1
Day trading guide for today: Following mixed global market sentiments, Indian stock market swing between gains and losses on Thursday session and finally ended in red territory. NSE Nifty snapped its three days winning streak and finished 93 points lower at 19,253 whereas BSE Sensex dipped 255 points and closed at 64,831 levels.
Bank Nifty index nosedived 243 points and ended at 43,989 mark. In broad market, small-cap index outperformed key benchmark indices as it ended 0.79 per cent higher and climbed to a new peak on previous session.
On outlook for Nifty today, Nagaraj Shetti, Technical Research Analyst at HDFC Securities said, "The underlying trend of Nifty remains choppy with weak bias. There is a possibility of weakness below 19,200 levels in the coming sessions.
The strong support is placed around 19,000 to 18,900 levels, where one may expect a sizable upside bounce from the lows." On outlook for Bank Nifty today, Ashwin Ramani, Derivatives & Technical Analyst at SAMCO Securities said, "Bank Nifty fell from the resistance of 44,350 zones on Intraday basis and closed at 43,989, down 243 points, marginally recovering from the 100-Day Exponential Moving Average (DEMA) of 43,920. Bank Nifty has given a lower close on the daily chart today.
The downside support for Bank Nifty is placed at 43,800 while a break below this level can take the Index 500 points lower until 43,500 levels." On triggers that may dictate stock market today, Siddhartha Khemka, Head - Retail Research at Motilal Oswal said, "After, poor US Q2 GDP data, investors would keep an eye on nonfarm payroll numbers. We expect the market to remain sideways on the back of mixed cues from global as well as domestic markets." Jio Financial Services shares will
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