Day trading guide for today: Six stocks to buy or sell on Friday — 15th September
Day trading guide for today: Following strong global cues, Dalal Street witnessed participatory rally on Thursday. Out of three key benchmark indices, NSE Nifty and BSE Sensex climbed to a new peak whereas Bank Nifty came close to its life-time high. But, broad market indices outperformed key benchmark indices as both small-cap and mid-cap stock surged mroe than one per cent during Thursday deals.
"Nifty scaled to new highs in today’s session to close with gains of 33 points at 20103 levels after India’s WPI inflation stayed negative for the 5th month at 0.52% in August. Broader market outperformed with Nifty Midcap 100 and Smallcap 100 up 1%. Majority of the sectors ended in green with buying seen in PSU Bank, Realty, Auto, and Metals.
Overall, we expect the market to maintain its positive trend on the back of strong domestic macroeconomic data. However, bouts of volatility cannot be ruled out given mixed global cues," Siddhartha Khemka, Head - Retail Research at Motilal Oswal. On outlook for Nifty today, Nagaraj Shetti, Technical Research Analyst at HDFC Securities said, "After moving into new all time highs above 19,990 levels, the market seems to have struggled to move decisively into new all time highs over the last few sessions.
Hence, any decline from here could drag Nifty towards the immediate support of around 19,950 levels. A decisive upmove above 20,200 levels is expected to pull Nifty towards another hurdle of 20,450 levels." On outlook for Bank Nifty, Ashwin Ramani, Derivatives & Technical Analyst at SAMCO Securities said, "Bank Nifty continued to move in a higher high formation on the daily chart for the sixth consecutive day to close at 46,001, up 91 points. The Index has formed a doji pattern today, which
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