Today’s Stock Market Update: Nifty 50 Trade Setup and Key Q3 Results; 5 Stocks to Buy on Friday, February 14
It is reported that the Nifty 50 index is trading lower than that 21EMA in the chart for daily. At the lower end it is positioned at 23,000 over the long term and on the other end, the index could rise to 23,200 or even higher as per experts.
Today’s Stock Market Update: Nifty 50 Trade Setup and Key Q3 Results; 5 Stocks to Buy on Friday, February 14
Stock Market Today: The benchmark Nifty 50 index ended volatile session in the Thursday market marginally down in the range of 23,031.40 (down 0.06 percent). S&P BSE Sensex at 76,138.97 was also 0.04 percent lower.
Trade Setup for Friday
It is reported that the Nifty 50 index is trading lower than that 21EMA in the chart for the last day. The RSI is currently in Q3 results today, and it continues to fall. On the lower side the support level is 23,000 over a long period and on the other side, the index could rise to 23,200 or even higher According to Rupak De who is a Senior Technical Analyst with LKP Securities.
Stocks to buy today
Sumeet Bagadia, Executive Director at Choice Broking, has recommended two stocks to consider today. Ganesh Dongre is the Senior Manager for Technical Research at Anand Rathi recommended three stocks.
The Sumeet Bagadia stock suggestions today
1. JSW Steel Ltd- Bagadia recommends purchasing JSW Steel at Rs969.8 keeping the stoploss at Rs935 to achieve the target price of Rs1035.
JSW Steel showcases the strength of bullish momentum evident in a significant upward move and a notable closing at Rs969.8.
2.Welspun Corporation Limited - Bagadia recommends purchasing Welspun Corporation at Rs793.25 with a Stoploss at Rs765 to get an underlying price of Rs850.
Welspun Corp showcases a strong trade setup for Friday, as evident from an evident uptrend from support levels at 780, and in close proximity to its 20-Day Experiential Moving Average (EMA).
3. Hindustan Aeronautics Ltd (HAL) - Dongre suggests buying Hindustan Aeronautics at Rs3665 keeping Stoploss at Rs3600 to achieve an expected price of Rs3825.
4. CG Power and Industrial Solutions Limited- Dongre recommends purchasing CG Power at Rs580 and maintaining a Stoploss at Rs570 to achieve the goal price of Rs600.
5. Bharat Electronics Limited (BEL) - Dongre recommends purchasing BEL at Rs 261 and keeping Stoploss at Rs255 to achieve the target price of Rs275.
