Stock market today: Trade setup for Nifty 50 to VIX today; 5 stocks to buy or sell on February 11
The Stock Market Today: Bank Nifty remains above the support level of 49.650 Buy-on-dips strategies should be incorporated to Bank Nifty.
Stock market today: Trade setup for Nifty 50 to VIX today; 5 stocks to buy or sell on February 11
Index Market Today: The market's consolidation continued as the indexes that are the benchmark, Nifty 50 and S&P BSE Sensex, closed at 23,603.35 and 78,058.16 with declines of 0.39 percent and 0.27 percent and 0.27 per cent, respectively on Thursday. Then, Bank Nifty edged upwards by 0.08 percent to end at 50,382.10.
Trade Setup for Monday
In his comments on discussing the Nifty50 forecast, Rupak De, Senior Technical Analyst for LKP Securities, "The decline continues in the index's headline as it is falling following creating a lower-top in the chart for daily trading. The sentiment has further weakened following the Nifty fell lower than the 21EMA.
On the other hand, regarding the Bank Nifty outlook, Hrishikesh Yedve, AVP Technical and Derivatives Research at Asit C. Mehta Investment Interrmediates Ltd and said "Similarly as it was the same for Bank Nifty. Bank Nifty opened with a gap lower but then saw volatility and ended the day in a negative direction with 49,981 points.
Stocks to Buy today
1. Varroc Bagadia recommends purchasing Varroc Rs557.35 Limits of sale at Rs538 to achieve a price of Rs596.
Varroc has a current price of Rs557.35 which is showing a significant bullish momentum following the breaking above the main resistance limit of Rs550.
2. Signature Bagadia suggests buying Signature at Rs1325.90 with a Stoploss at Rs1280 to achieve an estimated price of 1419 rupees.
SIGNATURE has a current price of Rs1325.9 The stock has recently recovered from a major support zone.
3. IRCTC Dongre recommends purchasing IRCTC at a price of Rs775 and making sure to keep Stoploss at Rs765 to achieve an estimated price of 795 rupees.
This pattern of technical analysis could suggest an upcoming retracement of the price of the stock getting to approximately Rs. 795.
4. Bata India Dongre recommends purchasing Bata India at a price of Rs1341 and maintaining a Stoploss at Rs1320, with an expected price of Rs1370.
We have seen major resistance in this stock around the Rs1320 price level. Therefore, at the present point the stock has experienced a reversed price action pattern at the price of Rs1341 level.
