Stock Market Today: Trade setup for Nifty 50 Q2 results today; Five stocks to buy or sell on Monday – November 4

Stock Market Today: Nifty-50 index consolidated during the last week; However, it closed 0.05% higher at 24304.35, snapping its losing streak over the past weeks. Bank Nifty also closed the week 1.7% higher. Industrials, real estate, metals and healthcare sectors were the top gainers, while IT and auto were the top underperformers. However, the broader indices saw relief, with the small-cap index gaining nearly 5%.

trade setup for monday

Nifty continues to consolidate within the 24,000-24,500 range, and breakouts on either side are expected to determine the next direction. An upside breakout of 24,500 could take the index to the target of 24,800 points, said Ajit Mishra, SVP, Research, Religare Broking Ltd.

For Bank Nifty, 51,000-51,150 will provide short-term support for the index, while resistance lies near the previous swing high of 52,580, said Hrishikesh Yedve, AVP Technical and Derivatives Research at Asit C. Mehta.

Global Market Outlook and Today’s Q2 Results

This week, investors will also focus on developments in the US markets, especially the US elections on November 5 and the Federal Reserve policy meeting on November 8.

We expect this range-bound move to continue with increased volatility heading into an eventful week. Investors’ focus will be on the ongoing results session as several key indices like Titan, Dr Reddy’s, Tata Steel, Power Grid, Apollo Hospitals, M&M, Trent, SBI, Tata Motors, Asian Paint, Divis Labs are set to announce their quarterly results. . Results next week, said Siddharth Khemka, head-research, Wealth Management. Motilal Oswal Financial Services Limited,

stocks worth buying today

Sumeet Bagadia, executive director, Choice Broking, has recommended two stock picks for Tuesday. Ganesh Dongre, senior manager, technical research, Anand Rathi, suggests three stock ideas for today.

Buy Sumeet Bagadia’s shares today

Zomato Limited – Bagadiya advises to buy Zomato Keeping stop loss at 248.99 For target price of 240 265

ZOMATO stock chart is showing some signs of improvement, but overall, it is still in a downtrend. Currently the price is around The recent rise from support levels at 248.99, 245 closely aligns with the 100-day EMA following a longer period of decline, indicating that things may get better if more buyers continue to support the stock. Can.

UTI Asset Management Company Limited- Bagadia has advised to buy UTI AMC But Keeping stop loss at 1360.40 Rs 1322 for target price 1444

UTI AMC is currently trading around 1360.40, demonstrating a strong uptrend since the beginning of the year. The trend is characterized by a pattern of higher highs and higher lows, indicating continued buying interest and positive momentum. The stock recently hit an all-time high of 1373.9, marking a key resistance level which, if crossed on a closing basis, could confirm further upside potential. If the stock manages to close above its high then a short term target of Rs 1444 can be seen.

Buy Ganesh Dongre shares today

3.Grasim Industries Limited– Dongre recommends buying Grasim Industries But keep stoploss at 2702 The target is 2650 2850.

In the recent short-term trend analysis of the stock, a notable bullish reversal pattern has emerged. This technical pattern suggests the possibility of a temporary retracement in the stock price, which could potentially reach around 2850. Currently, the stock is holding important support level at Rs 2650. Considering the current market price of Rs 2702, there is a buying opportunity. This suggests that investors can consider buying the stock at the current price, hoping for a move towards the set target of Rs 2850.

LIC Housing Finance Limited– Dongre recommends buying LIC Housing Finance But Keeping stop loss at 632 For target price of 605 660

In the recent short-term trend analysis of the stock, a notable bullish reversal pattern has emerged. This technical pattern suggests the possibility of a temporary retracement in the stock price, which could potentially reach around Rs 660. Currently, the stock is holding important support level at Rs 605. Looking at the current market value of rupee, there is a buying opportunity. This suggests that investors may consider buying the stock at the current price in the hope of moving towards the set target of Rs 660.

ITC Limited – Dongre recommends buying ITC Limited But keep stoploss at 489 For target price of 480 503.

In the recent short-term trend analysis of the stock, a notable bullish reversal pattern has emerged. This technical pattern suggests the possibility of a temporary retracement in the stock price, which could potentially reach around Rs. 503. Currently, the stock is holding important support level at Rs 480. Considering the current market price of Rs 489, there is a buying opportunity. This suggests that investors may consider buying the stock at the current price, expecting a rise towards the set target of Rs. 503.

Disclaimer: The views and recommendations given above are those of individual analysts or broking companies and not of Mint. We advise investors to check with certified experts before taking any investment decision.