Stocks

Indian stocks to purchase as of today

Based on good global sentiments and year-end financial buybacks, the Indian stock market ended Friday’s session on a higher note. In the last session of the fiscal year 2022-23, the Nifty 50 index rose 279 points and ended at 17,359 levels, while the BSE Sensex closed up 1,031 points to 58,991. The Nifty Bank index concluded 698 points higher at 40,608 levels. The amount on the NSE was higher than the recent average.

Commenting on Nifty’s outlook today, Nagaraj Shetti, a Technical Research Analyst at HDFC Securities, said, “Nifty’s short-term trend has increased. After clearing the hurdle and an overall positive chart setup, this suggests further upside for Nifty around the 17,800 level in the coming weeks. NSE Nifty instant support is fixed at 17,250 levels.”

In the expectance of the Indian stock market to keep growing, Rahul Ghose, CEO and Founder at Hedged, said, “Nifty has noted huge short cover on Friday hitting the 17,000 level, very strong support for the April range. The index also traded higher from 17,000 to 17,300, with the highest opening interest rate to buy at 17,500. An interesting observation with Nifty OI is that the highest opening interest for the monthly expiration when buying is 18,000 on the call side, not at 17,500, which is still 700 points below the current price. Indicates a higher location. The Nifty trend has also shifted from side to side.”

Trading stock to purchase today

Stock Experts for Intraday Stocks – Sumeet Bagadia, Executive Director of Choice Broking; Ganesh Dongre, Senior Director of Technical Research at Anand Rathi and Rajesh Bhosale, Technical Analyst at Angel One recommended a 6-day share for today.