Stock market today: Trade setup for Nifty 50 to global markets; 5 stocks to buy or sell on Monday — 30 December 2024
Live MintStock Market Today: Consolidation continued in the Indian stock market during the week ending 27 December, as the Benchmark Nifty 50 Index and S&P BSE Sensex ended about 1% weekly. Caution in the markets is reflected in the broader markets as mid-caps and small-caps ended flat Trade setup for Monday On the technical front, Nifty is striving to hold its critical long-term moving average, A decisive breach below the recent swing low of 23,500 could intensify selling pressure, with the next major support level near November’s low of 23,263.15, said Ajit Mishra – SVP, Research, Religare Broking Ltd. On the upside, the 24,100–24,400 zone remains a key resistance, he added For the Bank Nifty, 51000 will act as a crucial support zone for traders, while the 50-day SMA or 51600 and 52000 will serve as important resistance zones, said Amol Athawale, VP- Technical Research, Kotak Securities. Sumeet Bagadia's stocks to buy today 1.CEAT Ltd - Bagadia recommends buying CEAT Ltd at ₹3253.45, keeping Stoploss at ₹3139 for a target price of ₹3481 CEAT Ltd is currently trading at ₹3253.45, exhibiting a strong bullish trend marked by the formation of higher highs and higher lows. Bharat Electronics Ltd _ Dongre recommends buying Bharat Electronics Ltd at ₹293 for a Stoploss at ₹285 for a target price of ₹305 A notable bullish reversal pattern has emerged in the stock's recent short-term trend analysis. This suggests that investors might consider purchasing the stock at its current price, anticipating a rise towards the identified target of Rs.305 5.