Day trading guide for today: Six stocks to buy or sell on Friday — October 20
Day trading guide for today: Indian stock market ended lower on second day in a row following weak global market sentiments on Israel Palestine conflict. Nifty 50 index went down 46 points and closed at 19,624 levels, BSE Sensex lost 247 points and ended at 65,629 mark whereas Bank Nifty index 134 points and finished at 43,754 levels.
In broad market, small-cap index ended marginally higher while mid-cap index finished marginally lower on Thursday. Global equities slid on Thursday as risk aversion prevailed due to mounting worries over Middle East conflict, while the bond sell-off intensified, taking Treasury yields to fresh 16-year highs ahead of a keenly awaited speech from the US Fed Chairman Jerome Powell.
On outlook for Nifty today, Nagaraj Shetti, Technical Research Analyst at HDFC Securities said, "Further weakness from here, the Nifty finds support around 19,480 to 19,450 levels and any upside bounce from here could encounter resistance around 19,700 levels. A decisive break above this hurdle could pull Nifty towards another hurdle of 19,850 levels." On outlook for Bank Nifty today, Ashwin Ramani, Derivatives & Technical Analyst at SAMCO Securities said, "Bank Nifty rose sharply throughout the day before profit booking in the last hour led to Index closing at 43,755, down 134 points.
Bank Nifty took support from the 43,600 level today. The Index is at the make-or-break level as breakdown below 43,600 can lead to Bank Nifty moving down by another 300 points until 43,300, while a close above 44,000 can ignite buying interest again." F&O Ban List: MCX, GNFC, 5 others placed under futures & options ban by NSE for Oct 20 Speaking on Nifty Call Put Option data, Chinmay Barve, Head of Technical and Derivative Research
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