Market Experts’ Insights: Trade Setup for Today

Here’s what the market experts are saying about today’s trade setup:

  1. Nifty 50 Analysis: According to Osho Krishan, a Sr. Analyst at Angel One, the Nifty 50 index might see a slight correction after recent bullish activity. Immediate support is expected around 22,800-22,700 levels, while resistance lies at 23,000 and 23,100.
  2. Bank Nifty Outlook: Om Mehra from SAMCO Securities notes that the Bank Nifty’s recent halt in gains could lead to a correction towards 49,100 levels. To resume the uptrend, the index needs to break above 49,400.
  3. Market Predictions: Siddhartha Khemka of Motilal Oswal expects the Nifty to maintain a sideways to slightly positive trend, driven by reduced FII selling, favorable monsoon forecasts, and ongoing Q4 results.
  4. Volatility Forecast: Rahul Ghose, CEO of Hedged.in, anticipates continued volatility, with the India VIX rising and Nifty facing resistance around 23,000. The bearish outlook suggests 23,000 as a challenging level for the Nifty to surpass.

For those considering stock trades, here are the recommendations from experts:

Sumeet Bagadia’s Picks:

  • Hero MotoCorp: Buy around ₹5,185, with a target of ₹5,525 and a stop loss at ₹5,020.
  • Muthoot Finance: Buy near ₹1,745.40, aiming for ₹1,850, with a stop loss at ₹1,685.

Ganesh Dongre’s Recommendations:

  • HDFC Life: Buy at ₹578, targeting ₹600, with a stop loss at ₹560.
  • HCL Technologies: Buy around ₹1,358, targeting ₹1,420, with a stop loss at ₹1,320.
  • Kotak Mahindra Bank: Buy near ₹1,698, aiming for ₹1,740, with a stop loss at ₹1,665.

These insights and stock picks can guide investors in navigating today’s market dynamics and identifying potential trading opportunities.


Disclaimer: The views and investment tips expressed by investment experts on Sharepriceindia.com are their own and not those of the website or its management. Sharepriceindia.com advises users to check with certified experts before taking any investment decisions.​​

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