Stock market today: Day trading guide for Nifty 50 to Sensex, nine stocks to buy or sell today — 1st March
Day trading guide for Indian stock market today: Aided by monthly F&O expiry and MSCI rebalancing volumes, the Indian stock market witnessed sharp upside movement in the last 30 minutes of the Thursday session. The Nifty 50 index ended 31 points higher at 21,982 level, the BSE Sensex went up 195 points and closed at 72,500 mark whereas the Bank Nifty index scaled 157 points north and ended at 46,120 level. Cash market volumes on the NSE rose to 1.45 lakh crore due to MSCI rebalancing volumes.
Broad market indices rose more than the Nifty 50 index even as the advance-decline ratio rose to 1.01:1. Stock market experts believe that the Nifty 50 index is close to its crucial support placed at the 21,850 mark. They said that positive bias is still intact but confirmation is required, which can be assumed after the positive opening and the 50-stock index sustaining above the 22,000 mark.
On stocks to buy today, market experts recommended nine buy or sell stocks for today — McDowell-N, Berger Paints, L&TFH, Shilpa Medicare, Suzlon Energy, Tata Elxsi, Borosil Renewables, Ramkrishna Forgings, and Rico Auto Industries. On the outlook for the Nifty 50 today, Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities said, "Nifty is currently placed at the support of ascending trend line around 21,850 levels. The positive chart pattern like higher tops and bottoms remains intact on the daily chart and currently Nifty is in the process of forming a new higher bottom of the sequence.
Read more on livemint.com
