On Friday, Indian stocks ended lower on weak global cues as investors fretted about the potential for further Federal Reserve tightening and the effect on the economy. NSE Nifty fell by 36 points and closed at 17,856 while BSE Sensex shed 123 points and closed at 60,682 mark. According to stock market experts, a small range candle was formed on the daily chart with minor upper and lower shadow. Nagaraj Shetti, Technical Research Analyst at HDFC Securities said that Nifty could eventually breakout of the pattern on the upside in the near term. Rohan Patil, Technical Analyst at SAMCO Securities said 17,600 will be sacrosanct support for the index, while 18,000 could be an immediate hurdle. Ruchit Jain, Lead Research at 5paisa.com said that any positive trigger could lead to short covering by FIIs. On Nifty call put ratio, Shilpa Rout, Derivatives Lead Analyst at Prabhudas Lilladher said, Nifty weekly expiry option chain still reflects maximum PE writers position at 17800PE of over 1.37 lakh OI contracts. Unveiling intraday stocks for today, stock market experts — Sumeet Bagadia, Executive Director at Choice Broking and Ganesh Dongre, Senior Manager — Technical Research at Anand Rathi — recommended four shares to buy today.
Day Trading Guide for Stock Market Today
Indian stocks ended lower on Friday on weak global cues as investors fretted about the potential for further Federal Reserve tightening and the effect on the economy. NSE Nifty fell marginally by 36 points and closed at 17,856 while BSE Sensex shed 123 points and closed at 60,682 mark. According to stock market experts, a small range candle was formed on the daily chart with minor upper and lower shadow.
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