Stock market immediately: The Indian inventory market ended larger for the fifth straight session on Tuesday, February 20. Throughout the day, the Nifty reached a excessive of twenty-two,215.6 and a low of twenty-two,045.85. The Sensex traded between 73,130.69 and 72,510.24, in the end closing at 72,708.16, a 0.48% improve in comparison with the opening worth, with a acquire of 349.24 factors. The Bank Nifty ended at 46,535.5, reaching an intraday excessive of 47,136.75 and a low of 46,367.8.
“Domestic equities gained for sixth consecutive day, buying and selling in unchartered territory. After a subdued begin, Nifty bounced again into optimistic territory and made one more new excessive above 22200 zone. The index closed with positive aspects of 75 factors at 22197 ranges. Broader market, nonetheless, ended within the crimson. Sector-wise it was a combined bag with shopping for seen in Banking, Financials, and Realty,” mentioned Siddhartha Khemka, Head – Retail Research at Motilal Oswal.
Day buying and selling information for inventory market immediately
On the outlook for the Nifty 50 index, Rupak De, Senior Technical Analyst, LKP Securities, mentioned, “The Nifty continues its upward momentum following a consolidation breakout on the every day chart. The development stays sturdy because it has sustained itself each above the psychological degree of 22000 and the 21EMA on the every day timeframe. On the upper finish, it might transfer in the direction of 22400/22600 as soon as the index decisively surpasses the 22200 mark. Support on the decrease finish is recognized at 22000.”
On the outlook for the Bank Nifty immediately, Kunal Shah, Senior Technical & Derivative Analyst at LKP Securities, mentioned, “The Bank Nifty bulls maintained their dominance, closing above the 47000 degree, signaling a powerful purchase mode. Immediate assist is now established at 46700, marked by contemporary put writing. The index is anticipated to achieve the short-term goal of 48000, with any dip considered as a shopping for alternative.”
On the outlook for the Indian inventory market immediately, Siddhartha Khemka of Motilal Oswal mentioned, “We count on market sentiment to strengthen additional because the prospect of a pre-election rally is sort of sturdy. Further, the BSE market cap has touched a file excessive of $4.7 trillion, thus, exhibiting power out there. Globally, traders await the discharge of US FOMC assembly minutes as this would offer some insights into the US Fed’s future path.”
Nifty Call Put Option knowledge
Speaking on Nifty Call Put Options knowledge, Chinmay Barve, Head of Derivative and Technical Research at Profitmart Securities mentioned, “One of the foremost whole Call open curiosity was seen at 22300 and 22500 strikes with whole open curiosity of 82673 and 110981 contracts respectively. Strike worth of 22550 noticed one of many main open curiosity addition of 39281 contracts,” including, “one of many main whole Put open pursuits was seen at 22100 and 22000 strikes with whole open curiosity of 131270 and 178676 contracts respectively. One of the foremost Put open curiosity addition was seen at 22100 strikes which added 39366 contracts in open curiosity.”
Bank Nifty Call Put Option knowledge
On Bank Nifty Call Put Options knowledge, Chinmay Barve mentioned, “One of the foremost whole Call open curiosity was seen at 47200 and 47500 strikes with whole open curiosity of 82589 and 156715 contracts in open curiosity. Strike worth of 47500 noticed one of many main addition of 51003 contracts in open curiosity,” including, “One of the foremost whole Put open curiosity was seen at 47000 and 46800 strikes with whole open curiosity of 194337 and 107305 contracts respectively. One of the foremost Put open curiosity addition was seen at 47000 strike which added 175552 contracts in open curiosity.”
Day buying and selling shares for immediately
On shares to purchase immediately, inventory market specialists — Sumeet Bagadia, Executive Director at Choice Broking; Ganesh Dongre, Senior Manager — Technical Research at Anand Rathi; Shiju Koothupalakkal, Technical Analyst at Prabhudas Lilladher; and Drumil Vithlani, Technical Research Analyst at Bonanza Portfolio — really useful 9 shares to purchase or promote immediately.
Sumeet Bagadia’s inventory suggestions
1] Bajaj Finance: Buy at ₹6763.6, goal ₹7170, cease loss ₹6554
BAJFINANCE is at the moment buying and selling at ₹6763.6 and has just lately consolidated on the backside, given a breakout above the vary with good quantity, indicating a possible reversal and a powerful bullish development. A breakout above ₹6820 might propel the inventory in the direction of the ₹7170 degree, with a right away resistance at ₹6850. On the flip facet, ₹6554 serves as an important assist degree.
Furthermore, after a protracted correction, the inventory has reversed from the assist degree. The Relative Strength Index (RSI) is at the moment at 44, on an upward trajectory, suggesting rising shopping for momentum. Collectively, these technical indicators suggest that BAJFINANCE has the potential to achieve the ₹7,170 goal within the close to time period.
To handle danger successfully, it’s advisable to set a stop-loss (SL) at ₹6554 to guard the funding in case of an surprising market reversal. A prudent technique would contain contemplating shopping for alternatives on dips at ranges round ₹6700 and ₹6670.
In abstract, primarily based on technical evaluation and prevailing market situations, BAJFINANCE seems to current a promising shopping for alternative for these concentrating on a ₹7170 worth goal. It is essential to implement prudent danger administration methods to navigate potential market fluctuations.
2]Sun Pharma: Buy at ₹1538.70, goal ₹1600, cease loss ₹1500
SUNPHARMA is presently buying and selling at 1538.70 ranges, bounced from the preliminary assist of 1500. This bounce again signifies a possible shift within the inventory’s worth dynamics, making it an intriguing funding prospect.
In addition, the Relative Strength Index (RSI) is trending upward and seems optimistic, indicating a possible improve in shopping for stress. Moreover, SUNPHARMA worth is at the moment positioned above its 20-50-200 Day Exponential Moving Averages (EMA), suggesting underlying power within the inventory.
Taking all these components into consideration, it’s our skilled opinion that SUNPHARMA presents a beneficial shopping for alternative on the present worth of 1538.70, with a goal worth of 1600. It is vital to notice that our views could be invalidated if the inventory had been to fall under the 15000 degree.
Ganesh Dongre’s day buying and selling shares
3] HDFC Bank: Buy at ₹1455, goal ₹1485, cease loss ₹1430
In the short-term development, the inventory has a bullish reversal sample, technically retrenchment could possibly be potential until 1485 so, holding the assist degree of 1430 this inventory can bounce towards the 1485 degree within the quick time period, so the dealer can go lengthy with a cease lack of 1430 for the goal worth of 1485.
4] Titan: Buy at ₹3684, goal ₹3740, cease loss ₹3640
In the short-term development, the inventory has a bullish reversal sample, technically retrenchment could possibly be potential until 3740 so, holding the assist degree of 3640 this inventory can bounce towards the 3740 degree within the quick time period, so the dealer can go lengthy with a cease lack of 3640 for the goal worth of 3740.
Shiju Koothupalakkal’s purchase or promote shares
5] Lemon Tree: Buy at ₹138.50, goal ₹148, cease loss ₹135
The inventory has indicated a optimistic candle with respectable quantity participation witnessed and with the bias enhancing, we anticipate additional rise within the coming days. With the RSI additionally properly placed, has proven enchancment, and indicating a purchase sign. We recommend to purchase the inventory for an preliminary upside goal of 148 holding the cease lack of 135.
6] HUDCO: Buy at ₹198.45, goal ₹212, cease loss ₹193
The inventory after a brief consolidation has indicated a optimistic candle formation on the every day chart with vital quantity participation witnessed and might keep it up with the optimistic transfer additional forward. With the RSI additionally properly positioned is enhancing and with upside potential seen, we propose to purchase the inventory for an preliminary upside goal of 212 holding the cease lack of 193.
7] Power Grid: Buy at ₹287.90, goal ₹303, cease loss ₹282
The inventory has indicated a flag sample breakout at 282 zone on the every day chart to enhance the bias anticipating for additional rise within the coming periods. With the RSI getting higher and with upside potential seen, we count on additional rise for an preliminary goal of 303 ranges holding the cease lack of 282.
Drumil Vithlani’s shares to purchase immediately
8] Cigniti Technology: Buy at ₹1098-1100, goal ₹1150, cease loss ₹1075
Cigniti Technology is seen to be breaking out of a downward sloping channel sample on the every day timeframe and making a bullish candlestick which is why a purchase suggestion is initiated for targets as much as Rs.1150. One can provoke purchase on dip within the vary of 1098-1100 with cease loss under 1075 on every day closing foundation. The worth is buying and selling above the quick time period EMA (20) indicating uptrend within the safety. The RSI is now buying and selling within the northern path supporting the value motion.
9] Shilpa Medicare: Buy at ₹423-425, goal ₹450, cease loss ₹410
Shilpa medicare is seen to be breaking out rectangle sample precisely on the every day timeframe and making a bullish candlestick which is why a purchase suggestion is initiated for targets as much as Rs.450. One can provoke purchase on dip within the vary of 423-425 with cease loss under 410 on every day closing foundation.
Disclaimer: The views and suggestions above are these of individual analysts, specialists, and broking firms, not of Mint. We advise traders to test with licensed specialists earlier than making any funding selections.
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