Stock Market Today: Nifty 50 Q2 results today, experts recommend five stocks to buy or sell Thursday – October 24

Stock Market Today: The Indian stock market closed with a slight decline on Wednesday, October 23. nifty 50 The session ended 0.15 per cent lower at 24,435 and the Sensex ended 0.17 per cent lower at 80,081.

thirty-two components of nifty 50 The day ended in negative territory, with Mahindra & Mahindra leading the pack with a decline of 3.2 per cent.

Trading guide for stock market today

On the market scenario today, Hrishikesh Yedve, AVP Technical & Derivatives Research, Asit C. Mehta Investment Intermediates Ltd. said, “Nifty opened with a gap up, but the index saw buying demand in the first half. However, in the second half, the index saw profit-booking and ended the day on a negative note at 24,436. India VIX rose 1.31% to 14.59, indicating increased volatility in the market. However, the broader market outperformed the benchmarks with Nifty Midcap 100 and Smallcap 100 indices rising 0.64% and 1.25% respectively.

But bank nifty Outlook, Yedve said, “Bank Nifty also started with losses but found support near the 100-day exponential moving average (100-DEMA) at 51,100, which increased buying interest. However, the index ended the day on a flat note. Closed at 51,239. Technically, on the daily scale, Bank Nifty also formed an inverted hammer candle near its 100-DEMA support, indicating strength, with the 100-DEMA support located near 51,100. Thus, 51,000-51,100 will offer good support for Bank Nifty in the short term, as long as BankNifty remains above it, a pullback rally could be possible, however, a sustained break below 51,000 could trigger further downside.

On today’s technical outlook for Nifty, Senior Technical Analyst Rupak Dey, LKP Securities Said, “Nifty formed an inverted hammer pattern on the daily chart, suggesting the possibility of recovery in the near term. Immediate support is placed at 24,350, where the 38.20% Fibonacci retracement level lies. Going forward, if Nifty crosses 24,350 If Nifty remains above 24,700-24,750, another recovery above 24,750 may lead to 25,250, however, if Nifty breaks below 24,350 then there may be a significant correction.

Q2 results today

Nearly 100 companies including will declare their Q2 2024 results on Thursday ITCNTPC, Dixon Technologies, Adani Wilmar and others.

stocks worth buying today

Regarding stocks to buy today, stock market experts Sumeet Bagadia, Executive Director, Choice Broking and Ganesh Dongre, Senior Manager, Technical Research, Anand Rathi, have recommended buying these five stocks: Max Financial Services, mcxTata Consumer Products, MMTC and Bharat Dynamics.

Sumeet Bagadia’s stock recommendations today

1. Max Financial Services: Buy Here 1,271.9, target 1,350, stop loss 1,222.

Max Financial Services stock is showing strong bullish momentum, currently trading at all-time high 1,298.6 level. Recent breakout above important resistance The 1,212 level is an important technical development, supported by strong trading volumes, which reinforces the bullishness in the stock. This breakthrough suggests a possible continuation of the upward trend, offering an optimistic outlook for investors.

Additionally, MFSL is trading above key moving averages including short term (20 day), medium term (50 day) and long term (200 day) EMAs, confirming its bullish trend. The momentum indicator, Relative Strength Index (RSI), is at the 69 level.

For traders, keep an eye on strong support nearby The level of 1,222 is appropriate, as a breach of this level could signal a change in sentiment. Overall, MFSL’s current technical setup suggests a favorable environment for further upside potential, provided traders and investors remain alert to potential reversals and closely monitor key support and resistance levels.

Based on the above analysis we recommend buying MFSL and CMP With a stop loss of 1,271.9 Rs 1,222 for target 1,350.

2. MCX: Buy on 6,686.05, target 7,100, stop loss 6,450.

Currently trading is happening on MCX 6,686.05, showing a strong upward trajectory. The stock has displayed a consistent pattern of higher highs and higher lows, underscoring continued bullish momentum. Notably, it recently reached an all-time high 6,805.45. The stock is trading above its 20-day EMA, 50-day EMA and 200-day EMA, indicating strong support from short-term and long-term trends. There is a possibility of further rise in MCX. After breaking a key resistance level, if the trend continues and higher levels are breached, the stock could potentially reach the target 7,100.

On the downside, immediate support is located 6,450. The Relative Strength Index (RSI) is currently at 71.75 and moving upwards, indicating increasing buying momentum. To manage risk effectively, stop-loss 6,450 is suggested to avoid any unexpected reversal in the market.

In conclusion, based on technical analysis and current market conditions, MCX presents a promising buying opportunity for those who aim to buy. 7,100 target, provided appropriate risk management strategies are in place.

ganesh dongre day trading shares

3. Tata Consumer Products: Buy Here 1,015, target 1,045, stop loss 1,000.

In recent short-term trend analysis of tata consumer products In the stock, a notable bullish reversal pattern has emerged. This technical pattern suggests the possibility of a temporary retracement in the stock price, which could potentially reach around 1,045. Currently, the stock remains at important support levels 1,000. Given the current market price of A buying opportunity is being created at 1,015. This suggests that investors may consider buying the stock at the current price, expecting growth towards the set target. 1,045.

4. MMTC: Buy Here 76.50, target 80, stop loss 74.

In recent short-term trend analysis of MMTC In the stock, a notable bullish reversal pattern has emerged. This technical pattern suggests the possibility of a temporary retracement in the stock price, which could potentially reach around 80. Currently, the stock remains at an important support level 74. Given the current market price of A buying opportunity is being created at 76.50. This suggests that investors may consider buying the stock at the current price, expecting growth towards the set target. 80.

5. BDL: Buy Here 1,073, target 1,105, stop loss 1,050.

In recent short-term trend analysis of Bharat Dynamics In stocks, a notable bullish reversal pattern has emerged. This technical pattern suggests the possibility of a temporary retracement in the stock price, which could potentially reach around 1,105. Currently, the stock remains at important support levels 1,050. Given the current market price of A buying opportunity is being created at 1,073. This suggests that investors may consider buying the stock at the current price, expecting growth towards the set target. 1,105.

Disclaimer: The views and recommendations given in this analysis are those of the individual analysts or broking companies and not of Mint. We strongly advise investors to consult certified experts before making any investment decisions, as market conditions can change rapidly and individual circumstances may vary.