Stock Market Today: gave Indian stock market Recovered significantly, erasing the previous day’s losses and closing higher. gave Nifty 50 The index closed up 735 points at 22,620, while the BSE Sensex closed up 1303 points at 74,382. The Bank Nifty index also saw a significant gain, which rose 2126 points to end at 49.054. In the broader market, the mid-cap index outperformed the frontline Indian index, with the advance short ratio rising sharply to 3.49:1.

Trade setup for Thursday

For the Nifty, Nagaraj Shetty, senior technical research analyst at HDFC Securities, points out that the index has crossed a key barrier and closed higher. He points out that the next major barriers are near the 23,200 level, and expects volatility to continue in the short term with immediate support at the 22,300 level.

Also read: Buy or Sell: Vaishali Parekh recommends three stocks to buy today — June 6

Commenting on Bank Nifty’s outlook today, Om Mehra, technical analyst at SIMCO Securities said, “Bank Nifty rose 4.08 per cent, recovering almost half of yesterday’s losses, to settle at 49,054.60.Timeframe Above its 20-day and 50-day moving averages, support appears at the 47,300 level, followed by a pullback towards buying at 48,500, an opportunity for short-term traders.”

Discussing the drivers driving the Indian stock market, Siddhartha Khemka, head of retail research at Motilal Oswal said, “Expectations of a healthy monsoon are boosting interest in FMCG and auto stocks. Government formation and R The narrative around BI’s monetary policy will be at the centre, despite the easing of seats, we expect the government to continue to focus on investment-led growth, capex, infrastructure creation, manufacturing, etc.”

“In the near term, we expect the market to engage in government-building exercises, with a close eye on key cabinet portfolios such as finance, defence, roads, energy, trade and railways. Back to basics, Khemka added.

Buy or sell stock ideas from experts.

On stocks to buy today, stock market experts – Samit Bugadia, executive director, Choice Broking, and Ganesh Dongre, senior manager – technical research at Anand Rathi – recommend five stocks to buy or sell today.

Sumit Bagadia’s stocks will buy today.

1]Zydus Wellness: Buy at 1895.35, target 1999, stop loss 1830.

Shares of Zydus Wellness are showing strong bullish momentum, currently trading at a 52-week high. 1859.35. A recent breakout above critical resistance The 1815 level is an important technical development supported by strong trading volume, reinforcing the stock’s strength. These developments suggest a possible continuation of the upward trend, providing an optimistic outlook for investors.

2]Vijaya Diagnostics: Buy at 850, target 900, stop loss 820.

The Vijaya Diagnostics daily chart indicates a significant change in market dynamics, from minor declines and sideways consolidation to a promising upward movement. The current trading session shows upward momentum breaking out of a narrow range pattern on the daily chart. This development is consistent with a positive short-term trend, supported by a significant increase in trading volume.

Buy or sell Ganesh Dongre stock.

3]Access Bank: Buy at 1182, target 1222, stop loss 1162.

We have observed significant support around, in Axis Bank stock. 1162. At the current juncture, the stock has once again seen a reversal price action formation. 1182 price level, which may continue the rally to its next resistance level. 1222. This thorough analysis gives traders a safe basis to buy and hold this stock with a stop loss of 1162 for the target price. 1222 in the near term.

4]LT: Buy at 3420, target 3550, stop loss 3370.

In the short term, the stock has seen a bullish reversal pattern. Technically, as long as severance is possible. 3550. Therefore, holding the support level of 3370, it may bounce towards the stock. 3550 in the short term. Therefore, the trader can use a stop loss. 3370 for a target price of 3550.

5]Bandhan Bank: Buy at 191, target 200, stop loss 185.

We have seen significant support around, in this stock 185. Hence, at the current juncture, the stock has once again seen a reverse price action formation. 191 price level, which may continue the rally to its next resistance level. 191. Therefore, traders can buy this stock with a stop loss. 185 for a target price of 200 in the near term.

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

You are on the mint! India’s #1 news destination (Source: Press Gazette). To learn more about our business coverage and market insights Click here!

Source link