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Stock market today: Trade setup for Nifty 50, five stocks to buy or sell on Friday - June 21
Stock market today: The domestic benchmark equity indices, Sensex and Nifty 50, finished Thursday's session in positive territory after a sluggish start, boosted by advances in key sectors and a favourable global economic outlook.
The 30-share BSE Sensex ended up 141.34 points, or 0.18%, at 77,478.93, while the Nifty 50 closed at 23,567.00, up 51.00 points, or 0.22%.
The trading session began flat, but gained pace as the day continued. Among the Nifty 50 firms, 28 rose while 21 fell, indicating a largely favourable market outlook.
The mid- and small-cap indices beat large-cap equities, pointing to a bigger market rebound.
Also Read: Stock market today: Sensex ends up 141.34 points, Nifty 50 above 23,500; metal, realty, bank stocks shine; auto drags
Leading the drive were firms like as Hindalco, Grasim Industries, JSW Steel, Bharat Petroleum Corporation Limited (BPCL), and Adani Ports.
According to Vinod Nair, Head of Research at Geojit Financial Services, despite enormous volatility, the domestic market closed the day on a positive note. In the immediate term, market attention is expected to be concentrated on the upcoming Union budget and monsoon season. On a global scale, the decline in US bond rates has enabled considerable FII inflows in recent days. Fertilizer stocks increased considerably, driven by the projected GST reduction and MSP increases.
Trade setup for Friday
According to Prashanth Tapse, Research Analyst, Senior Vice President of Research at Mehta Equities, the trading theme revolves around markets increasing bets into the narrative that a soft landing in the US is underway.
Nifty 50's immediate goal post seen at its psychological 23,750 mark and then aggressive targets placed at 24,000 mark.
The line in the sand is at Nifty 50's make-or-break support at 23,350 mark. Nifty 50's 200 DMA is placed at 21,310 mark.
Also Read: Buy or sell: Vaishali Parekh recommends three stocks to buy today — June 21
Buy or sell stock ideas by experts
Stock experts Sumeet Bagadia, Executive Director at Choice Broking, and Ganesh Dongre, Senior Manager of Technical Research at Anand Rathi, have recommended five stocks to buy or sell today.