Stock market today: 4 stocks to buy or sell on Tuesday — April 16 amid Iran-Israel conflict
Day trading guide for stock market today: The Indian stock market witnessed sharp selling for the second day in a row on Monday as global equity bias continues to remain weak on the rising Iran-Iran conflict. The Nifty 50 index crashed 246 points or 1.10 percent and closed at the 22,272 level, the BSE Sensex tanked 845 points or 1.14 percent and finished at the 73,399 mark whereas the Bank Nifty index nosedived 791 points or 1.63 percent and ended at 47,773 level.
In the broad market, the small-cap index crashed 1.54 percent whereas the mid-cap index tanked 1.50 percent. Iran's unprecedented attack on Israel has marked a new tension in the Middle East conflict.
Iran has defended itself saying the attack was in response to an alleged airstrike done by Israel at its consular offices in Syria in which two generals with its paramilitary Revolutionary Guard were killed on April 1. On the outlook for the Nifty 50 today, Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities said, "The short-term trend of Nifty continues to be weak.
The next lower levels to be watched are around 22,000. Immediate resistance for Nifty today is placed at 22,400 levels." Also Read: Buy or sell: Vaishali Parekh recommends three stocks to buy today — April 16 On factors that may dictate the Indian stock market today, Ruchit Jain, Lead Research at 5paisa.com said, "Given the global uncertainty, we believe the near-term momentum would be more influenced by the Middle East news flows and the global markets movement.
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