Day trading guide for today: Six stocks to buy or sell on Friday — July 28
Day trading guide for today: Following mixed cues from global market, Indian stock market ended lower on Thursday. Nifty went down 118 points and closed at 19,659 levels, Bank Nifty index corrected 440 points and finished at 45,679 mark whereas BSE Sensex lost 440 points and closed at 66,266 levels.
In broad market, small-cap index, both small-cap and mid-cap indices outperformed key benchmark indices as both indices ended higher on the previous session. On outlook for Nifty today, Nagaraj Shetti, Technical Research Analyst at HDFC Securities said, "The short term trend of Nifty seems to have reversed down and more weakness could be in store for the coming sessions.
There is a possibility of important cluster support for the market around 19500-19450 levels. Any rise from here could find strong resistance at 19850 levels." On outlook for Bank Nifty today, Ashwin Ramani, Derivatives & Technical Analyst at SAMCO Securities said, "Bank Nifty has been consolidating in the 45,600-46,200 range since the last six trading sessions.
The downside support for Bank Nifty is placed around 45,300 zones while a close above 46,200 will drive further rally." Speaking on outlook for stock market today, Siddhartha Khemka, Head - Retail Research at Motilal Oswal said, "Market is likely to consolidate given no clarity given by the US Fed on its future course of action, leading to mixed global cues. Overall strength continues in the market, with the likelihood of consolidation at higher levels." Shares of Earum Pharmaceuticals will be in focus today as board of directors of the company are going to consider and approve bonus shares for its shareholders.
However, two stocks will be trading ex-bonus today. Those two stocks are Shish Industries
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