Stock market today: Trade setup for Nifty 50 to US inflation, five stocks to buy or sell on Friday — June 28

livemint.com:

Stock market today: Despite weakness in the global markets, the Indian stock market continues to scale northward on Thursday. The Nifty 50 index ended 175 points higher at the 20,044 mark after climbing to a new peak of 24,087. The BSE Sensex finished 568 points higher at 79,243 after hitting a new record high of 79,396.

However, the Nifty Bank index lost its early morning gains and ended 59 points lower at 52,811 after touching a new lifetime high of 53,180. The broad markets underperformed the Nifty even as the advance-decline ratio fell sharply to 0.48:1.On the Nifty 50 index outlook, Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities, said, "The underlying trend of Nifty continues to be positive. A sustainable move above 24000-24100 levels could soon pull Nifty towards another Fibonacci extension resistance of around 24380-24400.

Immediate support for Nifty today is placed at 23800 levels."On the outlook for the Bank Nifty today, Om Mehra, Technical Analyst at SAMCO Securities, said, "Bank Nifty reached a new all-time high over three consecutive days, peaking at 53,180.75 before settling lower on Thursday at 52,811.30, a marginal decline of 0.11%. The resistance at the 2.618 Fibonacci level near 53,300 suggests a potential barrier. Following a bearish candle on the daily chart, Bank Nifty may consolidate within a range with subdued momentum.