Stock Market Today: Without any major clue, Indians. Stock market Finished low on Monday. gave Nifty 50 The index ended modestly at 24,320, while the BSE Sensex closed 36 points south at 79,960. The Bank Nifty index lost 234 points to close at 52,425. Cash market volume on NSE fell by 7%. 1.45 lakh crore. Wide Market The index fell more than the frontline indices even as the advance decline ratio fell to 0.65:1.

Trade setup for Tuesday

Commenting on Nifty’s outlook today, Nagaraj Shetty, Senior Technical Research Analyst, HDFC Securities said, “Nifty’s short-term trend remains positive. Before this range movement for the next 1 or 2 sessions. A further upside move above 24,400 is likely to trigger a sustained move above the 24,400 key barrier ahead.”

On Bank Nifty’s outlook today, Om Mehra, Technical Analyst, SAMCO Securities said, “Bank Nifty ended the session down 0.45 percent at 52,425.80. The index ranged between 51,996 and 53,357 in the last few sessions. A breakout on either side of this zone will confirm the trend and move the index in that direction, which serves as another key level of the 20 DMA at 51,600.”

Unveiling the stock market strategy for intraday trading, Rajesh Bhosle, equity technical analyst at Angel One, said, “It appears that traders were focusing on opportunities outside the index, as stocks Specific rotation was significant. Today, the focus was on the FMCG and OIL & GAS sectors, such opportunities continue to arise, and traders should keep an eye on these themes.”

Q1 results today

Six listed companies will announce their Q1 2024 results on Tuesday. They are Delta Corporation, GM Breweries, Area Life Sciences, RS Software, Rajnish Wellness, and Ventura Textile Corporation.

Buy or sell stock ideas from experts.

On stocks to buy today, stock market experts Sumit Bugadia, executive director of Choice Broking, and Ganesh Dongre, senior manager of technical research at Anand Rathi, recommend these five buy or sell stocks: National Aluminum Company , Zowari Industries, Bajaj Auto, Ashok Leyland, and Bank of Baroda.

Sumit Bagadia’s stocks will buy today.

1]National Aluminum Company or NALCO: Buy at 206.30, target 222, prevention of loss 198.

The current trading price of NALCO is 206.31. The stock recently prepared for a range breakout on the daily chart with a significant increase in trading volume, indicating a possible breakout. If the price manages to close above. 208 level, it may have the ability to reach short-term goals. 222. On the other hand, those located at the level of immediate assistance. 200. These levels can be considered buying opportunities on dips.

2]Zwari Industries: Buy at 413, target 435, stop loss 399.

Shares of Zowari Industries have shown a remarkable change in market dynamics recently. The stock has moved from a period of modest declines and sideways consolidation to a promising upside bounce. This breakout is supported by the stability of the upward movement, indicated by strong bullish momentum and a significant increase in trading volume.

Buy or sell Ganesh Dongre stock.

3]Bajaj Auto: Buy at 9530, target 9800, stop loss 9400.

An analysis of the stock’s recent short-term trend has revealed a remarkable bullish reversal pattern. This technical pattern suggests a temporary pullback in the stock price, possibly reaching around 9800. The stock currently holds a key support level. 9400. Given the current market price of Rs 9530, a buying opportunity is emerging. This suggests that investors consider buying the stock at its current price, expecting it to move towards the identified target. 9800.

4]Ashok Leyland: Buy at 226, target 235, prevention of loss 222.

On the daily chart of this stock, the breakout of Rs. A price level of 226 has been observed, indicating a possible bullish trend. Complementing this breakout, the Relative Strength Index (RSI) is still moving higher, indicating increased buying momentum. Given these technical indicators, traders can consider buying on dips, when the stock enters at a low price point. To manage risk, a stop loss 222 is recommended. The target price for this strategy is 235 in the near term, suggesting a potential gain as the stock continues its upward trend.

5]Bank of Baroda: Buy at 262, target 272, prevention of loss 255.

On the daily chart, the stock has shown a short-term reversal pattern. In particular, a bullish wrap pattern has formed, which is a strong indicator of a possible upside move. This technical pattern is considered bullish, suggesting that the stock price may rise. Given this setup, traders can consider buying the stock, setting a stop loss on it. 255 to manage risk. The target price for this trade is 272, provides a profit opportunity as the stock continues to exhibit bullish behavior.

abandonment: The above opinions and recommendations are those of individual analysts or brokerage firms and not of Minutes. We advise investors to consult certified experts before making any investment decision.

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