&w=3840&q=100)
Analysts at Motilal Oswal suggest buying these three stocks today; details
Now if it manages to hold above 24442 zones then up move can be seen towards 24700 then 24800 zones while supports can be seen at 24350 then 24250 zones.
On option front, Maximum Call OI is at 24600 then 24700 strike while Maximum Put OI is at 24500 then 24400 strike. Call writing is seen at 24700 then 24600 strike while Put writing is seen at 24550 then 24600 strike.
Option data suggests a broader trading range in between 24000 to 25000 zones while an immediate range between 24300 to 24700 levels.
Bank Nifty index opened on a flattish note and extended the momentum towards 55566 marks in the initial hour of the session. However it failed to hold at higher levels and gradually drifted lower towards 55000 zones in the latter part of the session. It formed a bearish candle on daily scale as some pause was seen at higher zones but is hovering near its 100 DEMA.
The index has got stuck in a range of 700 points from the last few sessions as momentum is missing on either side. Now it has to hold above 55000 zones for a bounce towards 55250 then 55555 zones while a hold below the same could see some weakness towards 54750 then 54500 levels
Buy MCX | CMP 8151 | SL 7855 | TGT 8765
Stock has broken out of a narrow range on the daily scale with a strong bodied bullish candle. The RSI indicator has given a bullish crossover which confirms the positive momentum.
Buy | Max Financial Services | CMP 1588 | SL 1520 | TGT 1740
Price has given a range breakout with higher than average traded volumes and surpassed above its 50 DEMA which suggests continuation of the uptrend. The MACD indicator has given a positive crossover to support the up move.
Buy Hero MotoCorp | CMP 4645 | SL 4500 | TGT 5000
Stock has retested its breakout from a consolidation zone. Buying was visible across the Auto space which may support the upwards momentum. The ADX line is rising which confirms the strength of the uptrend.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Mint
an hour ago
- Mint
Independence Day 2025 stock picks: Nagaraj Shetti recommends Caplin Point, SBFC Finance shares to buy
Stock market today: Indian stock markets witnessed a slight rise following a flat opening on Thursday, the final trading day of the week, as the markets will be closed on Friday to observe the Independence Day holiday. The Nifty 50 rose over 14 points to 24,635 . 05 and the BSE Sensex gained over 70 points to 80,610.88, as of 12:48 IST. Investors are closely monitoring the weekend meeting in Alaska between US President Donald Trump and his Russian counterpart, which could have an impact on market perceptions for the upcoming week. Analysts suggest that a consensus reached at the Alaska meeting could spark a rally next week; however, for the time being, the markets are expected to remain steady. Experts indicate that the conditions are conducive for a recovery, but the economy and corporate earnings must demonstrate resilience. Currently, the market is in a wait-and-see position as the nation prepares to commemorate Independence Day, with particular attention on events in Alaska. Nifty 50 continued to move up on Thursday amidst range bound action and is currently trading higher by 38 points. Small candle formations recently signals that the market is awaiting geo-political events during long weekend. Nifty is currently placed at the crucial hurdle of 24,650-24,700 levels and a sustainable move above this hurdle could open sharp upside for the short term. Immediate support is placed at 24,500. Nagaraj Shetti of HDFC Securities recommends these two stocks to buy in the short-term - Caplin Point Laboratories Ltd, and SBFC Finance Ltd. After witnessing a sharp upmove on Wednesday, the stock price is currently showing consolidation movement. Bullish pattern like higher tops and bottoms is intact and the stock price has formed a new higher low. Upside breakout of down sloping trend line was also seen on the chart. The overall chart pattern indicates more upside. After showing a range bound action in the last few sessions, the stock price has shifted into an upside breakout of the range on Thursday. We observe a larger double bottom type formation on the daily chart. Volume and RSI shows positive indication. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
Business Standard
an hour ago
- Business Standard
Sensex, Nifty extend gains in morning trade; IT shares rally
The key domestic indices traded with moderate gains in the morning trade. Investors will keep an eye on WPI data, scheduled later today. The Nifty scaled above the 24,650 mark. IT shares jumped for fourth consecutive trading session. At 10:30 IST, the barometer index, the S&P BSE Sensex advanced 174.37 points or 0.22% to 80,714.28. The Nifty 50 index added 41.50 points or 0.17% to 24,660.70. The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index shed 0.02%, while the S&P BSE Small-Cap index fell 0.19%. The market breadth was negative. On the BSE, 1,768 shares rose and 1,812 shares fell. A total of 203 shares were unchanged. Earnings Today: Ashok Leyland (up 0.04%), Glenmark Pharmaceuticals(down 0.01%), Vodafone Idea(down 1.57%), Indian Oil Corporation (IOCL)(down 0.81%), Ahluwalia Contracts (India)(up 1%), Alkyl Amines Chemicals(down 0.92%), Amara Raja Energy & Mobility(down 0.92%), AstraZeneca Pharma India (up 1.18%, Ethos(up 0.56%) , Hindustan Oil Exploration Company (down 0.03%), Inox Green Energy Services,(down 0.48%) will declare their result later today. New Listing: Shares of JSW Cement were currently trading at Rs 151.80 at 10:30 IST on the BSE, representing a premium of 3.27% compared with the issue price of Rs 147. The scrip was listed at Rs 153, exhibiting a premium of 4.08% to the issue price. So far, the stock has hit a high of Rs 154.70 and a low of Rs 150.15. On the BSE, over 60.21 lakh shares of the company were traded in the counter so far. Shares of All Time Plastics were currently trading at at Rs 302.85 at 10:30 IST on the BSE, representing a premium of 10.13% compared with the issue price of Rs 275. The scrip was listed at Rs 314.30, exhibiting a premium of 14.29% to the issue price. So far, the stock has hit a high of Rs 322.15 and a low of Rs 288.10. On the BSE, over 11.62 lakh shares of the company were traded in the counter so far. Buzzing Index: The Nifty IT index advanced 0.63% to 34,911.35. The index rose 1.49% in the four trading sessions. Infosys (up 1.58%), Wipro (up 1.4%), LTIMindtree (up 0.83%), Mphasis (up 0.28%) and Oracle Financial Services Software (up 0.22%), Coforge (up 0.11%), Persistent Systems (up 0.1%) advanced. Stocks in Spotlight: Engineers India declined 3.26% after the company reported a 28.6% fall in consolidated net profit to Rs 65.40 crore on a 39.5% increase in revenue from operations to Rs 870.36 crore in Q1 FY26 over Q1 FY25. Indian Railway Catering & Tourism Corporation (IRCTC) shed 0.20%. The company reported a 7.47% jump in consolidated net profit to Rs 330.70 crore, while revenue from operations rose 3.76% to Rs 1,159.68 crore in Q1 FY26 over Q1 FY25.
New Indian Express
an hour ago
- New Indian Express
Sensex, Nifty extend gains at midday; IT stocks lead rally on Thursday
CHENNAI: Indian markets continued their upward momentum on Thursday, supported by gains in heavyweight stocks such as HDFC Bank and Tata Consultancy Services (TCS), along with positive cues from the US. Around 12:55 pm, the BSE Sensex was trading about 100 points higher at 80,650, while the NSE Nifty held above 24,650. Earlier in the day, the Sensex had climbed 154 points to 80,693.98, and the Nifty gained 45 points to 24,664.35. Technology shares were the standout performers after Wall Street's S&P 500 and Nasdaq hit fresh record highs overnight. Infosys jumped nearly 3% after announcing it would acquire a 75% stake in Australia's Versent Group for A$233.25 million. TCS and Wipro also traded higher. Sun Pharma, Asian Paints and Maruti were among other notable gainers.
