“Global Market Sentiments Remain Positive Despite Fitch Downgrading China: Day Trading Guide for Stock Market Today”
Despite Fitch downgrading its outlook for China, global market sentiments have remained positive, with the buzz of a potential US Fed rate cut in the near term following strong US inflation figures. As the Indian stock market opens after a holiday, Dalal Street is expected to react to the robust US CPI data. Stock market experts are optimistic about the continuation of positive trends.
Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities, highlighted that the Nifty 50 index is currently facing resistance around 22,800 levels but shows no signs of reversal at the highs. Immediate support is at 22,615 levels, with a potential move above 22,800 levels expected to drive further upside momentum.
Rajesh Bhosale, Technical Analyst at Angel One, advised caution amidst potential profit-taking triggers, suggesting disciplined stock-specific trades with proper exit strategies. Key levels to monitor include 22,800 to 22,850 as significant resistance, followed by psychological resistance at 23,000, and immediate support around 22,600 to 22,550.
Stock recommendations from experts include:
– Infosys: Buy at ₹1498, target ₹1580, stop loss ₹1468
– Tata Consumer: Buy at ₹1145, target ₹1220, stop loss ₹1107
– NHPC: Buy at ₹92.85, target ₹97, stop loss ₹90.50
– BF Utilities: Buy at ₹829, target ₹875, stop loss ₹819
– Sarda Energy: Buy above ₹230, target ₹244, stop loss ₹224
– UPL: Buy at ₹503 to ₹505, target ₹520, stop loss ₹497
– Clean Science and Technology: Buy at ₹1360 to ₹1362, target ₹1405, stop loss ₹1339
These recommendations are based on technical analysis and market trends. Investors are advised to consult with certified experts before making any investment decisions.
