On Friday, the Indian stock market had a positive day with some ups and downs. The Nifty 50 index went up by 156 points, closing at 21,853, while the BSE Sensex gained 440 points, reaching 72,085.
However, the Bank Nifty index faced a slight dip, losing 217 points and ending at 45,970. Small-cap and mid-cap indices reached new highs, with the small-cap index going up by 0.49% and the mid-cap index by 0.80%.
Market Expert Insights
According to Siddhartha Khemka from Motilal Oswal, various sectors like Oil & Gas, Metals, PSU Bank, and IT performed well. Oil marketing stocks gained about 3%, thanks to a drop in Brent crude prices.
Tech stocks also saw an increase due to positive results from Meta and Amazon. PSU banks surged over 2% after the Finance Minister announced a lower borrowing plan.
Outlook and Triggers
Looking ahead, Nagaraj Shetti from HDFC Securities suggests that Nifty’s short-term uptrend is intact, but there might be volatility at new highs. Immediate support for Nifty is expected at 21,700 levels. Siddhartha Khemka points out that all eyes are now on the RBI’s policy meeting, as the US Fed and Interim Budget are already behind us.
Day Trading Stocks
Experts recommend eight stocks for day trading today:
Tata Consumer: Buy at ₹1162.75, target ₹1210, stop loss ₹1125.
CARE Ratings: Buy at ₹1164, target ₹1212, stop loss ₹1135.
GAIL: Buy at ₹178, target ₹182, stop loss ₹174.
Tata Steel: Buy at ₹138, target ₹145, stop loss ₹133.
India Glycols: Buy at ₹941, target ₹977, stop loss ₹920.
BF Utilities: Buy at ₹664.50, target ₹695, stop loss ₹645.
Sat Industries: Buy at ₹119, target ₹128, stop loss ₹115.
Varroc Engineering: Buy at ₹600 to ₹601, target ₹640, stop loss ₹580.
These stock picks come from experts like Sumeet Bagadia, Ganesh Dongre, Shiju Koothupalakkal, and Virat Jagad. The recommendations include details on buying price, target, and stop loss, making it easier for traders to follow.