Stock market today: Trade setup for Nifty 50 to global markets; 5 stocks to buy or sell on Monday — 30 December 2024

The Bank Nifty, too, was up by nearly 1%. While Pharma, Auto & FMCG didwell, Metals and Industrials dragged. Mid-caps and small-caps were flat, showing hesitant investor sentiment.

Nifty is struggling to close above itslong-term moving average, the 200-Day Exponential Moving Average, in the upcoming session, the trade setup for Monday indicates. Analysts say a breach of 23,500 could create further selling pressure with the next significant support at 23,263.15.In positive side, resistance is seen at 24,100 to 24,400 range. Level of 51,000 is a major support for Bank Nifty and we expect 51,600 & 52,000 to act as main resistance zones for upside so these will be key levels for the traders.

Globally markets around the world remain focused on Q3 results to be announced later this month and other economicdata points including PMI numbers for India, the US and China and US jobless claims also during the week. That will surely shape investor choices by the time we get to near 2025. Apart from this, the auto sector could witness elevated activity with an expectation of higher sales volumes in December and flat valuations.

If you are looking for stocks to buy today, experts have some suggestions.CEAT Ltd is recommended as a buy at ₹3,253.45, with a stop loss at ₹3,139 and a target price of ₹3,481.The strong trading volumes behind the price increase suggest active buying, supported by a bullish candlestick pattern.

Some of the other stocks that arealso discussed are Campus Activewear Ltd, Hindustan Petroleum Corporation Ltd (HPCL), Bharat Electronics Ltd (BEL) and ICICI Bank Ltd.The following selections are potential guide winds for day trading guides for todayaccording to risk appetite and market conditions.

While the broader market is witnessing some consolidation, caution is advised to stay with global trends and market mood. Watching for the global market news, and for some of the technical levels, could be the most important factor in deciding in the next few sessions.