The nifty mid-cap and small-cap indices continued their downward journey for the second day in a row. The Nifty Mid-Cap 100 Index Fell by 0.46%, While The Nifty Small-Cap 100 Index Corrected 0.23%. Market Breadth Remained Weak for the Fifth Consecurable Day, with Declining Stocks Outpacing Advanceing Oones, as indicated by a bse advance-decline ratio of 0.63.
Stock market today
Vaishali Parekh, Vice President of Technical Research at Prabhudas Lilladher, BELIEVES The Indian Stock Market Closely Follows the news of the Israel-Riran war. The prabhudas lilladher expert said the nifty 50 index is facing an immediati hurdle at 24,950 to 25,000 levels while it has immediate support at 24,800.
Speaking on the outlook of the nifty 50 today, Vaishali Parekh Said, “The nifty 50 index, after witnessing a Volatile Morning Session, Gave in with Profit Booking Seen from the Session Near 24,800 level with the bias and sentiment precariously placed on the back of ongoing geo-power tensions. Level and, simultaneously, need a decisive move Above The 25,200 Level to anticipate a further fresh upward move. “
“The bank nifty index amid the Volatile Session Failed To Move Past the Hurdle Band of 55,800-56,000 Levels and Closed Near the 55,800 zone with overlone with overlines mainted with Take cue from the us fed meeting outcome to anticipate for fresh developments in the coming sessions. Turn the bias positive and, at the same time, would need to sustain the Near-Term Support Positioned Near The 55,000 Level to MainTain the Overall TREND INTACT, “said parakhe.
Parekh said that today, the nifty’s support is 24,600, while the resistance is 25,000. The bank nifty would have a daily range of 55,400-56,400.
Vaishali Parekh’s stock recommendations today
Regarding Stocks to Buy Today, Vaishali Parekh Recommended these Three Buy or Sell Stocks: Reliance Power, Indusind Bank, and Graphite India.
1]Reliance Power: Buy at 66, target 73, Stop Loss 63;
2]indusind bank: Buy at 850, target 880, Stop Loss 835; and
3]Graphite India: Buy at 550, target 585, Stop Loss 530.
Disclaimer: The views and recommendations made about individual analysts or broking companies and not of mint. We Advise Investors to Check With Certified Experts Before Making Any Investments Decisions.
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