Day trading guide for today: Six stocks to buy or sell on Tuesday — July 18
Day trading guide for today: On account of strong global cues, Indian stock market finished on a higher note on Monday. Out of three key benchmark indices, BSE Sensex and NSE Nifty climbed to a new peak on the previous session, which improved the market sentiments further.
BSE Sensex scaled to a new record high of 66,656 while NSE Nifty surged to a new life-time high of 19,731 on Monday session. In broad market, small-cap index hit a new peak of 34,079 while mid-cap index climbed to a new all-time high of 29,593 levels.
On outlook for Nifty today, Nagaraj Shetti, Technical Research Analyst, HDFC Securities said, "Having moved decisively above the resistance of 19,500 levels recently, Nifty is expected to reach towards the next upper trajectories of 19,800 levels (1.382% Fibonacci projection) and psychological 20,000 mark in the near term. Important support for trend reversal is placed at 19,500 levels." Expecting the uptrend to further continue, Siddhartha Khemka, Head - Retail Research, Motilal Oswal said, "Overall, we expect the momentum to continue with intermittent minor declines.
Financial space will remain in focus on the expectation of good results from other BFSI heavyweights (Indusind Bank, ICICI Pru., ICICI Lombard and ICICI Bank this week) after HDFC and mid-sized banks reported impressive numbers. With LTI Mindtree and Tata Elxsi results today (Monday) and LTTs results tomorrow (Tuesday), the IT sector would be in the limelight.
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