“Indian Stock Market Bounces Back After Sell-Off, Experts Recommend Day Trading Stocks”
After a significant sell-off on Wednesday, the Indian stock market saw a positive turnaround on Thursday. The Nifty 50 index gained 148 points, closing at the 22,146 level, while the BSE Sensex added 335 points, ending at 73,097. The Bank Nifty index, however, finished 191 points lower at 46,789. Both small-cap and mid-cap indices outperformed the key benchmarks, with the small-cap index surging 3.11 percent and the mid-cap index rising 2.28 percent.
Looking ahead, experts have differing opinions on the market outlook. Nagaraj Shetti of HDFC Securities believes that a sustained upside bounce could lead Nifty towards the 22,450 to 22,500 levels. Vaishali Parekh of Prabhudas Lilladher suggests that the Bank Nifty index needs to decisively move past 47,300 levels to improve bias.
In terms of options data, Chinmay Barve of Profitmart Securities highlighted key levels for Nifty and Bank Nifty. For Nifty, major call open interest was seen at 22,400 and 22,500 strikes, while put open interest was highest at 22,000 strikes. For Bank Nifty, call open interest was concentrated at 47,000 and 47,500 strikes, with put open interest highest at 46,500 and 46,000 strikes.
For day trading, experts like Sumeet Bagadia, Ganesh Dongre, and Drumil Vithlani recommended stocks to buy. Bagadia suggested buying Tech Mahindra and Zydus Lifesciences, while Dongre recommended Tata Consultancy Services and Wipro. Vithlani’s picks included Cigniti Technologies and HEG.
It’s important to note that the views and recommendations provided by experts are their own and investors are advised to consult with certified experts before making any investment decisions.
