Day trading guide for today: Six stocks to buy or sell on Thursday — October 12
Day trading guide for today: On account of positive strong global cues, Indian stock market ended higher for second straight session on Wednesday. Nifty 50 index gained 121 points and closed at 19,811 levels, BSE Sensex shot up 393 points and ended at 66,473 mark whereas Bank Nifty index added 156 points and finished at 44,516 levels. In broad market, small-cap index went up 0.77 per cent whereas mid-cap index gained 0.55 per cent.
"Nifty remained in positive territory for the second consecutive day amid buying in index heavyweight and closed with gains of 122 points (+0.6%) at 19811 levels. Market sentiments were buoyed after the IMF raised India's FY24 GDP growth forecast to 6.3% from 6.1% and strong quarterly business updates from several corporates. Among sectors, major gainers were Auto, FMCG, and Realty while PSU Bank and IT closed in red," said Siddhartha Khemka, Head - Retail Research at Motilal Oswal.
On outlook for Nifty 50 today, Nagaraj Shetti, Technical Research Analyst at HDFC Securities said, "The short term trend of Nifty continues to be positive. A decisive move above 19,800 levels is likely to pull Nifty towards the next upside levels of 20,000-20,200 in the near term. Important support is placed at 19,650 levels." Speaking on outlook for Bank Nifty today, Ashwin Ramani, Derivatives & Technical Analyst at SAMCO Securities said, "Bank Nifty started off on a positive note but lost momentum quickly and traded flat for major part of the day to close at 44,517, up 157 points.
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