Day trading stocks for 4th April 2024: PNB to TCS — Anand Rathi expert recommends three shares to buy today
Day trading stocks: Following weak global market cues on doubts over the US Fed rate cut, the Indian stock market remained choppy on the entire Wednesday session. The Nifty 50 index corrected 18 points and ended at the 22,434 level, the BSE Sensex lost 27 points and ended at the 73,876 mark whereas the Bank Nifty index added 78 points and closed at the 47,624 level. However, the broad market indices rose more than 0.5 percent even as the advance-decline ratio remained positive at 2.75:1.
Ganesh Dongre, Senior Manager — Technical Research at Anand Rathi believes that the Nifty 50 index has major support placed at 22,250 to 22,300 zone. The Anand Rathi expert went on to add that overall market sentiment may continue to remain positive till the 50-stock index is above this support zone. Ganesh went on to add that Nifty today may find resistance at the 22,550 to 22,600 level and a bullish or bearish trend can be assumed on the breakage of either resistance or support zones only.
On stocks to buy today, Ganesh Dongre of Anand Rathi recommended three day trading stocks for today — Bharti Airtel, Punjab National Bank (PNB), and Tata Consultancy Services (TCS). On the outlook for the Indian stock market today, Ganesh Dongre of Anand Rathi said, "On the Nifty 50 front, we still hold the support level of 22,250 to 22,300 zone, which will keep the movement upward for the 50-stock index in the coming days. The resistance for the spot would be the 22,550 to 22,600 zone; crossing this resistance, we can see an upward rally continue until the 22,900 zone.
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