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Nifty: Day trading guide: 2 stock recommendations for Thursday

Following the sharp up move of 500 points in just two trading sessions, Nifty50 has reached an overbought territory on a shorter time frame chart, suggesting that a temporary pause or correction could be witnessed in the coming sessions. ....

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Positive open seen for markets - The Hindu BusinessLine


Positive open seen for markets
June 30, 2021
 
Markets are expected to open marginally higher, indicates a trend from SGX Nifty, Singapore. However, most global markets are ruling in the flat-to-negative territory, signalling volatility.
According to market experts, after two consecutive days of fall, markets will try to regain some strength. Besides, today being the last date of the first quarter (June), markets generally remain resilient due to fund managers’ portfolio churning activity. However, the key concern is the rise of new Covid variant, said analysts.
Currently, SGX Nifty is ruling at 15,827, a 40-point gap-up opening for Nifty futures, which on Tuesday closed at 15,785. The spot Nifty closed at 15,748.45. ....

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Nifty: Day trading guide: 2 stock recommendations for Monday


Post the previous Monday’s swift rally, Nifty swung between 15,670-15,900 zone through the rest of the week. On Friday, Nifty closed at 15849, up 59 points, forming another bullish candle. Recent rebound from the lower levels indicates an immediate floor near 15700-15635 levels, while positive follow-up action is required to attempt 15975. Nifty s breadth remained mildly positive, moreover, all the sectoral indices ended in the green, except the FMCG index.
Bulls regained momentum in the banking space. Except for
Kotak Bank and Bandhan bank, all the components of Bank Nifty ended in positive territory. Bank Nifty rose significantly, gaining 1.5 per cent in Friday’s trade and 2.3 per cent for the week gone by. Levels of 35000 could turn out as immediate floor, while on the higher side, it might inch higher till 35800-36000 zone. ....

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Nifty50: Day Trading Guide: 2 stock recommendations for Monday


YES Securities
Nifty rallied for the straight sixth session, in Friday’s trade Nifty opened on a gap up note above 15,400 mark and traded in positive territory throughout the session. Surpassing Feb months high, Nifty also registered a new record high at 15,470. However, Nifty traded within a narrow trending band of 75 points which is the lowest daily trading range since 10th May.
Moreover, Nifty s breadth was unimpressive as about half of Nifty50 components ended in red, it represents stock specific action at play. Shifting the base higher, now levels of 15,250 could turn out as immediate floor, while on the higher side on-going rally could continue till 15,600 level. ....

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