Indian stock indices closed lower for the third consecutive session on Friday. The BSE Sensex closed down 59 points at 57,832.9 while the NSE Nifty edged down 28 points to settle at 17,276. On a weekly basis, the Sensex lost 0.55% and the Nifty fell about 0.56%.
From a sector perspective, the real estate, oil and gas, basic materials, healthcare and energy indices were the main losers. Stock markets this week could face volatile trading sessions this week and would be guided by global signals, the movement of the rupee and crude oil prices, analysts said.
Daily trading guide for the stock market today
“Nifty’s short-term trend continues to be choppy. Nifty’s inability to hold above the 17500 levels could eventually lead to a downward correction and this could eventually cause Nifty to retest a recent low of 16840 Immediate support is placed at 17150 levels,” said Nagaraj Shetti, Technical Research Analyst, HDFC Securities.
Clever on the weekly chart placed on the significant support of the trendline around the 17000 levels. The formation of upper and lower shadows in the small positive weekly candle indicates the presence of high volatility in the market, he said. He underlines.
Stocks to buy or sell today based on analyst recommendations –
Sumeet Bagadia, Executive Director at Choice Broking
India Cements: Buy iniacem, target price ₹220-225, stop-loss ₹204
Firstsource Solutions: sell FSL, target ₹122-120, stop-loss ₹131
Avinash Gorakshkar, Head of Research at Profitmart Securities
Voltas: Buy Voltas, target ₹1310, stop-loss ₹1,220
L&T: buy LT, objective ₹1,945, stop loss ₹1,850
Anuj Gupta, Vice President at IIFL Securities
BHEL: Buy BHEL, target ₹60, stop loss ₹48
Coal India: Buy COALINDIA, target ₹185, stop loss ₹159
The opinions and recommendations made above are those of individual analysts or brokerage firms, and not of Mint.
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