Day trading guide for today: Six stocks to buy or sell on Tuesday — September 26
Day trading guide for today: After losing for fourt straight sessions, Indian stock market ended flat on Monday. Nifty 50 index ended marginaly higher at 19,674 levels, BSE Sensex finished 14 points higher at 66,023 mark whereas Bank Nifty index gained 154 points and closed at 44,766 levels. In broad market, small-cap index went up 0.12 per cent whereas mid-cap index surged 0.46 per cent during Monday deals.
"Nifty swung between gains and losses to finally close flat at 19675. Broader markets were positive with Nifty mid-cap 100 up 0.7% while Nifty smallcap 100 ending flat. Sectorially it was a mixed bag with buying seen in Realty, Consumer Durables, and Financial Services.
Markets have come under pressure in recent weeks as the US central bank hinted at more rate hikes in the future. This along with persistent selling by FIIs, rising crude prices, and a spike in bond yields dampened investors' sentiments," said Siddhartha Khemka, Head - Retail Research at Motilal Oswal. On outlook for Nifty 50 index during Tuesday deals, Nagaraj Shetti, Technical Research Analyst at HDFC Securities said, "Nifty is currently placed near the support of 20 week EMA around 19,580 levels.
The said moving average has offered strong supports for the Nifty since past 3-4 months. Hence, there is a possibility of an upside bounce in the near term. At the highs, the market could find strong resistance around 19,850 levels.
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