The stock market today: The Indian stock markets started on Tuesday, with both the most important indices staying early in the trade. Investors remained vigilant amid the ongoing peace negotiations in Ukraine and waited for international clues. The Nifty 50 index started on 24,891.35, with an increase of 14.40 points or 0.06%, while the BSE Sensex opened at 81,319.11, with 45.36 points or 0.06%. Market analysts have indicated that any developments in the Ukraine Russia fraudster will serve as an important catalyst for Indian stocks. Worldwide influences have also affected market sentiments. The upcoming address of US Federal Reserve Chairman Jerome Powell during the annual Jackson Hole Symposium is carefully monitored for insights on Fed policies and possible interest rate changes. Although the increase in the US Producer Price Index (PPI) for July has slightly reduced the likelihood of a rate reduction in September, the prevailing market view still leans into a reduction. In addition, US retail earnings are expected to lead consumer strengths in the world’s largest economy this week. Market Views – Riyank Arora, Technical Analyst, Mehta Equities Ltd Nifty 50 – Technical View Nifty 50 opened nearly 300 points higher, but quickly had sales pressure on top levels. The index is now resistant to 24,960, and a move beyond this level it can take to 25.022. On the daily chart, a clumsy candle has appeared near the Anker VWAP resistance, and this indicates short-term profit discussion. Unless Nifty 50 holds more than 25,000 decisively, the index can slip to 24,675 before they find support. Traders should remain careful at higher levels. Bank Nifty Bank Nifty crossed 55,600, but saw the sale of pressure in the 56,000-56,100 region. The index currently consolidates in a broad range of 55,500 to 56,400. A break from above 56,100 can attract further profits, while a decline can attract renewed sale below 55,500. For the time being, the structure is sideways with no clear trend, and traders need to prepare for more consolidation before a guiding movement emerges. Shares to buy for short -term Riyank Arora recommend these three shares in the short term – NSDL, Gabriel India and BSE. NSDL Buy | CMP: £ 1,207,80 | SL: £ 1,150 | Target: £ 1,300 and £ 1,400 NSDL recently held on to its anchor VWAP support near 1.175 and shows early signs of recovery. The share consolidates well around this support, while increasing volumes indicate buying interest. This indicates the possibility that the surveys are resumed, with an upward targets placed at 1.300 and 1.400. To protect against any disadvantage risk, traders must maintain a strict downtime at 1,150, as a break below this level can weaken the current bullish setup. Gabriel India Buy | CMP: £ 1,146 | SL: £ 1,075 | Target: £ 1,250 and 1,300 Gabriel India has broken out of its consolidation phase and is much higher. Supported by strong volumes and the improved sentiment, the stock seems to be on a continued rally. Technical indicators point to sustained momentum, which indicates possible upside down to 1,250 and 1.300 in the near term. However, to manage the risk effectively, traders must place a strict stopos on 1.075. A closure below this level can deny the positive setup, while the stock above remains in a bullish trajectory. BSE Ltd Buy | CMP: £ 2,494 | SL: £ 2,400 | Target: £ 2,700 BSE Ltd has set out above a key resistance level, backed by strong volumes and positive momentum. The technical setup remains healthy, with the stock that has power and potential to move to 2,700 in the short term. Support is placed on 2400, which should serve as a strict downtime to protect positions. As long as this level applies, the prospects for BSE remain clumsy, and traders can expect the rise to continue with higher targets ahead. Disclaimer: The views and recommendations given in this article are those of individual analysts. This does not represent the views of coin. We advise investors to check with certified experts before making investment decisions.
Shares to buy in the short term: Mehta Equity ‘Riyank suggests that NSDL, Gabriel India, buy BSE shares
