Day trading stocks, 8 April 2024: HLA to NBCC — Anand Rathi expert recommends three shares to buy today
Day trading stocks, 8 April 2024: Following weak global market sentiments, the Indian stock market ended flat on Friday last week. The Nifty 50 index finished marginally lower at 22,513 level, the BSE Sensex added 20 points and ended at the 74,248 mark while the Bank Nifty index shot up 432 points and ended at 48,493 level.
However, broad market indices outperformed the Nifty 50 index as small-cap and mid-cap indices finished 0.50 percent higher in the previous session. Ganesh Dongre, Senior Manager — Technical Research at Anand Rathi believes that the Nifty 50 index may continue the upward momentum till the 50-stock index is above the 22,250 mark.
The Anand Rathi expert maintained that Nifty today has strong resistance at 22,600 levels and predicted a 22,900 level once the 50-stock index breaches the 22,600 hurdle on a closing basis. On stocks to buy today, the Anand Rathi expert recommended three day trading stocks for today — NBCC, Hindustan Aeronautics Ltd (HAL), and Mahindra and Mahindra Financial Services Ltd (M&MFIN).
Also Read: Buy or sell: Vaishali Parekh recommends three stocks to buy today — April 8 On the outlook for the Indian stock market today, Ganesh Dongre of Anand Rathi said, "On the Nifty front, we still hold the support level of 22,250 to 22,300 zone, which will keep the movement upward for the Nifty 50 index in the upcoming days. The resistance for the spot will be the 22,550 to 22,600 zone; crossing this resistance, we can see an upward rally continue until the 22,900 zone.
As per today's chart, we have seen the gap down opening and then continuing its bullish trend and closing near to its resistance level of 22,550 to 22,600 zone. So currently there is a mixed picture for the stock-specific
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