• Day Trading Guide: Experts say immediate resistance for NSE Nifty is placed at 18,450 to 18,500 levels
Day trading guide for today: Indian stock market ended in the red zone for the second straight session on Friday last week, following weak global cues following a peculiar comment on interest rate hike by the US Fed. Among major benchmark indices, the Nifty 50 index ended 145 points lower at 18,269, while the BSE Sensex declined 461 points to end at 61,337. The Bank Nifty index fell 278 points to close at 43,219.
According to stock market experts, the current market pattern indicates selling on the upside and continuation of the downside trend. This is a negative sign and more weakness may be in store. A negative chart pattern such as a lower top has been confirmed at 18,696 on December 14 and further weakness from here could indicate formation of a new lower bottom of the sequence on the daily chart.
day trading strategy for monday
Speaking on the intraday trading strategy for Monday, Nagaraj Shetty, Technical Research Analyst, HDFC Securities said, "A similar pattern to Nifty daily (short negative candle with long upper shadow) was formed on the weekly chart, with a major support around 18,700. Indicates the presence of resistance. As per the weekly charts, Nifty after breaking below the important immediate support of 18,500 levels, may move down towards the next important support level of 18,100 to 18,000 this week. The immediate resistance for NSE Nifty lies at 18,450. 18,500 level."
Market expert Sugandha Sachdeva said, "Amid easing inflationary pressure, markets were expecting the US Fed to signal an endpoint to its accommodative policy stance. However, all major central banks- US Fed, ECB and BOE hints at further rate hike. In its attempt to stamp out higher inflation. All eyes now on US consumer confidence data, third quarter US GDP data as well as PCE price index data for November for further signs Will be for."
nifty call put option data
On Nifty Call Put Ratio, Shilpa Raut, Derivatives Lead Analyst at Prabhudas Lilladher said, "The Nifty Weekly Option chain now has the highest PE writer at 18000 with more than 50 lakh shares followed by 18100PE with more than 40 lakh OI shares , A fresh innings of Put additions was seen at a lower level of 17500 PE with more than 40 lakh OI shares. Highest call writing at 18600CE with more than 80 lakh OI shares followed by 18400CE with more than 70 lakh OI shares. 18300 levels But dominance of call writing and PCR below 1 indicates pause for further upside of the index."
bank nifty call put option data
"Bank Nifty weekly options series indicates some sign of weakness- 43000PE still with maximum writers of around 20 lakh OI shares, followed by fresh additions at 41000PE of more than 16 lakh OI shares at lower levels. CE Writers The top position is at 44000CE with more than 35 lakh OI. The shares mark resistance for bank nifty for next week followed by 43500CE with more than 25 lakh OI shares which is an immediate resistance but close to 43200 and 43500 A series of beach congestion makes it difficult for the index to move forward," said Shilpa Raut.
day trading stocks to buy today
Unveiling the intraday stocks for the day, stock market experts - Sumeet Bagadia, Executive Director, Choice Broking; Ganesh Dongre, Senior Manager - Technical Research at Anand Rathi and Rajesh Bhosale, Technical Analyst at Angel One have recommended BUY on 6 stocks today.
sumit bagadia intraday stock for today
1] SPIC: Buy on CMP, target ₹80 and ₹85, stop loss ₹68
2] Triveni Engineering: Buy CMP, target ₹300 to ₹310, stop loss ₹280
Ganesh Dongre's stock is up on Monday
3] MCX: Buy at ₹1645, target ₹1700, stop loss at ₹1610
4] Crompton: Buy at ₹347, target ₹370, stop loss at ₹340
Rajesh Bhosle's shares will be bought today
5] BSE: Buy at ₹591, target ₹624, stop loss ₹574
6] Sterlite Technologies: Buy at ₹186.50, target ₹202, stop loss at ₹177.
No comments:
Post a Comment