Momentum was seen in India's stock market on the very first day of the week. Growth was witnessed in Sensex and Nifty, with a positive impact on other sectoral indices as well. How will the market perform on Tuesday? According to various reports, experts have indicated that the market may open on a flat note on this day. A slightly positive note may also be seen. Stability has been observed in stock market indices elsewhere in the world, and following this trend, a similar picture is expected to be seen in India as well. GIFT Nifty has indicated that the market may start at the 26200-26250 level.
From a sectoral perspective, according to experts, the financial, IT and metal sectors could set the market direction. 'Selective participation' may be seen in foreign investment. Along with this, investors may continue to keep an eye on the overall global economic dynamics.
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According to Vaishali Parekh, Vice President of Technical Research at Prabhudas Lilladher, since Nifty 50 closed above 26000, this index may gain further momentum and touch new heights. Citing Monday's example, Vaishali Parekh mentioned that Nifty opened with a gap up that day, and the index rose throughout the day. She indicated that the index may rise further in the coming days.
According to Vaishali Parekh, Nifty 50's immediate support is now at 26050. On the other hand, the resistance level is 26350. Bank Nifty may remain at the 59000-59800 level.
What did Parekh say for Tuesday's Intraday Trading?
There is advice to keep an eye on some stocks on this day
1. Indian Bank:
Buy: ₹788. Target: ₹820. Stop Loss: ₹778
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2. Varun Beverages:
Buy: ₹486. Target: ₹505. Stop Loss: ₹475
3. RVNL:
Buy: ₹332. Target: ₹345. Stop Loss: ₹327
{News Ei Samay does not provide investment advice anywhere. Investment and trading in the share market or any field involve risk. Proper study and expert advice are recommended beforehand. This news is published for educational and awareness purposes.}
