Stock Market Today:
The stock market opened strong this week with the Nifty 50 index rising by 0.47% to end at 24,461.15. On the other hand, Bank Nifty dropped slightly by 0.30% to close at 54,919.50. Sectors like auto, oil & gas, and FMCG led the gains, and the broader markets also saw a rise of over 1%.
The Nifty index is still trading in a narrow zone between 24,200 and 25,500. Analysts say the market remains positive if Nifty stays above 24,200. A strong close above 24,550 could indicate a clear upward trend. For Bank Nifty, if it crosses the 56,098 level, it could move towards 56,800. However, strong support is between 54,000 and 53,500.
Experts believe the market will likely remain in a positive range while watching international developments, especially news related to India-Pakistan relations. The announcement of Q4 results from companies like Godrej Consumer, BSE, and HPCL may also influence stock movements.
1. Inox Wind Ltd – Buy at ₹173.08, target ₹186, stop loss ₹167. The stock shows bullish signs and could break out soon.
2. Indian Bank – Buy at ₹576.50, target ₹617, stop loss ₹556. The stock is trending upwards with strong buying interest.
3. BSE Ltd – Buy at ₹6450, target ₹6650, stop loss ₹6350. The stock is showing consistent strength.
4. Narayana Hrudayalaya Ltd – Buy at ₹1778, target ₹1825, stop loss ₹1740. Bullish reversal pattern seen.
5. CAMS – Buy at ₹3810, target ₹3910, stop loss ₹3740. A recovery move is expected.
6. HUDCO – Buy at ₹228.79, target ₹240, stop loss ₹224. Breakout from a channel suggests further upside.
7. Bharat Dynamics Ltd – Buy at ₹1563, target ₹1650, stop loss ₹1530. Strong bullish momentum is visible.
8. Castrol India Ltd – Buy at ₹203.96, target ₹215, stop loss ₹199. The stock shows signs of a positive trend.
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