Stock Market Opening Sensex Jump 289 Points And Crossed 60550 Level Nifty Above 18K Level

Stock Market Opening: From the pre-opening signals for the domestic stock market today, it seemed that the market would have a great start and it has happened. Today American markets are closed but there is excellent support from Asian markets. Today is the first trade after the results of HDFC Bank and it opened with a gain of more than one per cent. Infosys and Tata Steel are also trading at a brisk pace.

How was the market opening

There has been a great opening of the stock market and the BSE Sensex today opened at 60,550.50 with a gain of 289.32 points or 0.48 per cent. Apart from this, the Nifty of NSE opened at 18,033.15 with a tremendous gain of 76.55 points i.e. 0.43 percent.

Sensex and Nifty condition

Out of 30 Sensex stocks, 22 are seeing a boom and 8 stocks are trading with a decline. Apart from this, 36 out of 50 stocks are trading with a boom in Nifty today and tremendous growth is being registered in the remaining 14 stocks.

How was the market in pre-opening

In the pre-opening, the Nifty in the stock market was trading at 18038 with a gain of 81.65 points i.e. 0.45 per cent. Apart from this, the level of 60654 was being seen in the Sensex with a jump of 393.41 points i.e. 0.65 percent.

What should be the strategy for the stock market today?

Dr. Ravi Singh, VP, Head of Research, Share India, says that today the domestic stock market is expected to open around 17950-18000 and thereafter it is expected to trade in the range of 17800-18200 during the day’s trading. Today only the upper range will be seen in the business and strength will be seen in the shares of PSU Bank, Metal, IT sector. Apart from this, there is a possibility of a decline in FMCG, Pharma and Realty sectors.

trading strategy for nifty

To buy: Buy above 18000, target 18080, stoploss 17950

For Sell: Sell below 17800, target 17720, stoploss 17850

Support 1- 17821
Support 2- 17685
Resistance 1- 18046
Resistance 2- 18135

Expert opinion on Bank Nifty

Dr. Ravi Singh, VP, Head of Research, Share India, says that after opening around 42350-42400, Bank Nifty is expected to trade in the range of 42100-42700. Today, Bank Nifty is expected to trade in the upper range.

Trading Strategy for Bank Nifty

To buy: Buy above 42400, target 42600, stoploss 42300

For Sell: Sell below 42000, Target 41800, Stoploss 42100

Support 1- 42020
Support 2- 41669
Resistance 1- 42588
Resistance 2- 42805

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