Stock Market Update: Nifty 50 Trade Setup & Key Stocks to Watch – February 19
In the near term the Nifty-50 Index, which is the benchmark index may remain a bit weak for in the event that it remains at or below 23,150. Support is located at 22,800. A drop below that level could result in a correction.
Stock Market Update: Nifty 50 Trade Setup & Key Stocks to Watch – February 19
Stock market Today: The benchmark Nifty 50 index as well as the S&P BSE Sensex after a volatile market session ended with a slight decrease with 22,945.30 or 75,967.39 respectively. In the Bank Nifty at 49,087.30 ended 0.35 percent lower, while indexes like the FMCG and Auto indexes were among the major loser's.
Trade Setup for Wednesday
Nifty experienced yet an additional day of volatility when the index did not take an obvious direction. In the near term Nifty could remain in a'sell-on-rise for as long as it is not at or below 23,150. Support is set at 22,800. A drop below this level could cause a further correction.
Stocks to Buy Today
Sumeet Bagadia, Executive Director at Choice Broking, has recommended two stocks for today. Ganesh Dongre is the senior manager in Technical Research at Anand Rathi recommended three stocks, and Shiju Koothupalakkal, Senior Manager -for Technical Research at Prabhudas Lilladher has provided two additional stock selections.
NPC Bagadia Day trading guide for Today NTPC in the range of Rs311 and and keeping Stoploss in the range of Rs300, with a goal price of Rs333.
1. NTPC has a current price of a price of Rs311, and has recently risen from a crucial support zone. The stock has created the bullish candlestick pattern, and is in the process of breaking out of the short-term trend of falling in day-to-day timeframes.
2. Persistent Systems Ltd - Bagadia recommends purchasing Persistent Systems Ltd at Rs5797.25 and keeping Stoploss at Rs5594 to achieve an estimated price of Rs6203.
Persistent is trading at Rs5,797.25 It has recently retreated from a crucial support zone. Persistent has created a Morning Star candlestick pattern on the daily timeframe. This is and has seen a noticeable increase in the volume of trading that indicates strong bullish momentum and confirming an optimistic outlook.
3. The Phoenix Mills Ltd- Dongre suggests buying the Phoenix Mills at around $1600, with a Stoploss at Rs1570, which will give you the target price of Rs1645.
