Day Trading Guide for Friday, June 9: Six Stock Recommendations
On Thursday, the Indian Trading market witnessed a decline, breaking its four-day rally, due to weak global market sentiments. The Nifty 50 index closed 91 points lower at 18,634, while the BSE Sensex finished 294 points lower at 62,848. The Bank Nifty index also saw a decline of 280 points, settling at 43,995. The mid-cap index dropped by 0.87%, while the small-cap index corrected by 0.47%. Read More: Enhancing Risk Management on MT4: Trailing Stop Loss Orders and Beyond Outlook for Nifty: Nagaraj Shetti, a Technical Research Analyst at HDFC Securities, stated that the Nifty has been following a bullish pattern with higher tops and bottoms on the daily chart. Thursday’s swing high can be considered a new higher top, and further weakness is expected in the short term, which could form a higher bottom. The Nifty is likely to find support around the 18,560-18,450 levels, where an ascending trend line, 10-day, and 20-day exponential moving averages (EMA) converge. Nifty Call Put Rati...