Stock market today: Trade setup for Nifty 50 to US dollar; 5 stocks to buy or sell on Wednesday — 8 January 2025
Live MintStock market today: The domestic stock markets closed in the green zone due to positive global cues and diminishing concerns about the new HMPV virus after two trading sessions of losses. Trade Setup for Monday On the outlook for the Nifty 50 and the Bank Nifty index, Parekh said, “Nifty has indicated a pullback after the huge erosion witnessed in the previous session maintaining the 23,500 zone as a strong support area which needs to be sustained.” “The index has been hovering between a tight range since a long time and would need to breach above the important 200 period MA at 23,900 level and thereafter, to trigger a breakout, would need to cross the resistance barrier of the 50EMA level of 24,180 to establish conviction and anticipate for further rise in the coming days,” said the stock market expert. These include Max Healthcare Institute Ltd., Bharat Dynamics Ltd., IndusInd Bank Ltd., Garden Reach Shipbuilders & Engineers Ltd., and SBI Cards and Payment Services Ltd. Sumeet Bagadia stocks to buy today 1. We have seen a major support in this stock around ₹1,540 So, at the current juncture, the stock has again seen a reversal price action formation at the ₹1,575 price level, which may continue its rally till its next resistance level of ₹1,620 so traders can buy and hold this stock with a stop loss of ₹1,540 for the target price of ₹1,620 in the upcoming weeks.