Stock market today: On Friday, October 25, the Indian stock market experienced a significant decline. Both the Sensex and Nifty 50 benchmark indices fell by nearly 1% each, while the midcap and smallcap sectors fell by 2 points. %.
The Sensex fell by 663 points or 0.83% to close at 79,402.29. Meanwhile, Nifty 50 fell by 219 points or 0.90% to end at 24,180.80. The BSE Midcap and Smallcap indices recorded a decline of 1.48% and 2.44% respectively.
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Today’s Stock Market Trading Guide
Commenting on today’s market outlook, Hrishikesh Yedve, AVP Technical Derivatives Research, Asit C. Mehta Investment Intermediates Ltd. (Pantomas Group Company) said, 24,181. The volatility index India VIX rose 4.74% to 14.63, indicating increased volatility in the market. Technically, Nifty has formed bearish candlesticks on both daily and weekly charts, indicating weakness. The 150-day exponential moving average (DEMA) is near 23,950 and the previous swing low was 23,893. Therefore, the index will find good support in the 23,900-23,950 range. On the upside, 24,500 and 24,700 are major resistance levels and traders should consider taking profits on the pullback, given the prevailing bearish sentiment. ”
On the outlook for Bank Nifty, Yedve added, “Bank Nifty started with a gap down and remained bearish throughout the day.” As a result, the index ended the day at a negative 50,787. Technically, on the daily scale, Bank Nifty has formed a bearish candlestick and has broken through the key support level of 51,000, indicating weakness. However, the index found support near the 150-day exponential moving average (DEMA) and trendline support, which helped the index recover some. 150-DEMA is currently located near 50,380. As long as Bank Nifty respects 50,380, a bounce to 51,000 is possible but should be used for profit booking. Sustaining below 50,380 could push Bank Nifty to the psychological threshold of 50,000. ”
Commenting on the basic outlook for the Nifty, Vinod Nair, head of research at Geojit Financial Services, said, “Continued geopolitical tensions and expedient reactions by FIIs have dragged down sentiment. Investor sentiment has turned a little dark.” Major indexes Nifty and Sensex fell 2.7% and 2.2%, respectively. Bears, on the other hand, devastated small and mid-cap stocks, dropping 5.2%/7.4%. From recent highs, the major indexes have fallen by ~8%. Sustained selling by FIIs and lack of catalyst in the domestic market may impact near-term market sentiment. ”
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Nile added: “Performance in the quarter was impacted by a slower demand environment and margin pressures, with FMCG, metals, automotive and real estate being the biggest drag, while IT was relatively flat. “The contribution to the overall loss was small in hopes of recovery,” he added. We expect the growth in BFSI spending and the positive outlook for US spending to continue in the near term, but a reversal in trends will depend on the slowing of the FII selling momentum and the outcome of the US presidential election. With the release of positive PMI data and the RBI’s reiteration of its economic growth forecast for FY25, easing valuations, a recovery in earnings in the second half of FY25 and expectations for an RBI rate cut in 2025 will support the market. Sectors of focus include consumption, FMCG, infrastructure, new generation enterprises, manufacturing, and chemicals. ”
Today’s 2nd quarter results
Major companies to announce July-September results for financial year 2024-25 (Q2 FY25) on Monday, October 28 include Adani Power, Bharti Airtel, Sun Pharmaceutical Industries, Ambuja. -Cement, Punjab National Bank, BHEL, Federal Bank, IOC, JSW Infrastructure, Motilal Oswal, etc.
Stocks to buy today
On what stocks to buy today, stock market experts Sumeet Bagadia, Executive Director, Choice Broking, and Ganesh Dongre, Senior Manager, Technical Research, Anand Rathi recommend the following six stocks to buy: Recommended: Yatharth Hospital & Trauma Care Services, Thermax, Torrent Pharmaceuticals, ICICI Bank, and Bell.
Sumeet Bagadia Day Trading Stocks
1) Yatarus Hospital: Buy for ₹649.65 |Target Price: ₹690 |Stop Loss: ₹625
Yatharth Hospital stock is showing strong bullish momentum and is currently trading at an all-time high of ₹667.2 level. The recent break above the key resistance level at the 628 level is an important technical development supported by solid trading volume, reinforcing the stock’s strength. This jump suggests the uptrend could continue, giving investors optimism.
Additionally, Yasas Hospital is trading above key moving averages, including the short-term (20-day), medium-term (50-day), and long-term (200-day) EMAs, further supporting its bullish stance. The Relative Strength Index (RSI), an indicator of momentum, is at the 63.98 level.
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For traders, we recommend keeping an eye on the strong support around the 625 level, as a breakout of this level could signal a change in sentiment. Overall, the current technical setup for Yasas Hospital is a favorable environment for the possibility of further upside, as long as traders and investors remain vigilant for a possible reversal and closely monitor key support and resistance levels. suggests.
Based on the above analysis, we recommend buying Yatharth Hospital and CMP at ₹649.65 against a target of ₹690 with a stop loss of ₹625.
2) Thermax Limited: Buy for ₹5,431.15 |Target Price: ₹5,750 |Stop Loss: ₹5,222
Thermax stock recently experienced a significant jump on the daily chart. This breakout is accompanied by an uptrend bullish trend characterized by higher highs and higher lows. The strong bullish sentiment is further supported by a notable spike in trading volumes.
Key technical indicators, especially the Relative Strength Index (RSI), highlight the stock’s positive momentum. Not only does the RSI indicate favorable trends, but it also coincides with stocks trading above important moving averages, such as the 20-day, 50-day, and 100-day exponential moving averages (EMAs). This convergence highlights the continued strength of Thermax’s price action.
In summary, a decisive breakout, along with encouraging volume and a positive correction in key technical indicators, suggests a bullish outlook for Thermax stock. Traders and investors may interpret this analysis as an indication of potential sustained upward momentum in the stock price.
Considering the above analysis, we recommend holding Thermax stock in cash at the current market price (CMP) of ₹5,431.15, with a target of ₹5,750 and a stop loss of ₹5,222.
Ganesh Dongre’s recommended stocks
3) Torrent Pharmaceuticals: Buy for ₹3,433 |Target Price: ₹3,600 |Stop Loss: ₹3,375
A recent short-term trend analysis of Torrent Pharmaceuticals stock reveals a notable bullish reversal pattern. This technical pattern suggests that the stock price may undergo a temporary retracement and reach around 3,600 ₹. Currently, the stock is holding an important support level of ₹3,375. A buying opportunity arises given the current market price of ₹3,433. This suggests that investors may consider buying Torrent Pharma stock at its current price in hopes of an upside towards a specific target of ₹3,600.
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4) ICICI Bank: Buy at ₹1,260 |Target Price: ₹1,310 |Stop Loss: ₹1,230
A recent short-term trend analysis of ICICI Bank stock reveals a notable bullish reversal pattern. This technical pattern suggests that the stock price may undergo a temporary retracement and reach around 1,310 ₹1,310. Currently, ICICI Bank stock is holding an important support level of ₹1,230. Given the current market price of ₹1,260, a buying opportunity has arisen. This suggests that investors may consider buying ICICI Bank stock at its current price in hopes of rallying towards a specific target of ₹1,310.
5) Bell: Buy at ₹275 |Target Price: ₹290 |Stop Loss: ₹265
A recent short-term trend analysis of the Bharat Electronics stock reveals a notable bullish reversal pattern. This technical pattern suggests a temporary retracement in the stock price, potentially reaching around ₹290. Currently, the stock is holding an important support level of ₹265. Given the current market price of ₹275, a buying opportunity has arisen. This suggests that investors may consider buying the stock at the current price in hopes of rallying towards a specific target of ₹290.
Disclaimer: The views and recommendations provided in this analysis are those of the individual analysts or brokerage firms and not of Mint. Because market conditions can change rapidly and individual circumstances may vary, investors are strongly encouraged to consult a certified professional before making any investment decisions.
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