Stock Market Update: Five Stocks To Buy Or Sell On August 28

Stock Market Updates: Five Stocks to Buy or Sell on August 28

Weak Global Cues Extend Losses: The Indian stock market continued its downward trajectory for the second consecutive day on Friday (August 25) due to weak global market cues. The NSE Nifty declined by 120 points to close at 19,265 levels, while the BSE Sensex dropped by 365 points to end at 64,886. The Bank Nifty index also corrected by 264 points, closing at 44,231 levels.

Sectoral Indices in the Red: All sectoral indices concluded the day in negative territory. Nifty PSU Banks, Nifty Reality, and Nifty Healthcare were the major losers among the sectoral indices.

Higher NSE Cash Market Volumes: NSE Cash market volumes were notably higher compared to the recent average, indicating increased trading activity.

Day Trading Outlook:

Nifty: Nagaraj Shetti, Technical Research Analyst at HDFC Securities, suggested that the short-term trend for Nifty remains negative. He mentioned the possibility of further weakness in the upcoming sessions. However, he also highlighted the potential for a substantial upside bounce from the critical lower support level of 19,000.

Bank Nifty: Apurva Sheth, Head of Market Perspectives & Research at SAMCO Securities, noted that Bank Nifty opened with a gap down and moved lower. He pointed out that the maximum put open interest is situated at 44,000 levels, with horizontal support at 43,500. Sheth anticipated that bulls would attempt to sustain above these levels in the coming week.

Stocks to Watch:

Stock market guide for today: Market observers and investors were advised to pay attention to the board meeting outcomes of Vedavaag System, Dhruv Consultancy Services, and Blue Chip Tex Fuel Industries. These companies were expected to consider and approve interim and final dividends. Additionally, three dividend-paying stocks—Wardwizard Innovations and Mobility, Precision Wires, and Bannariamman Sugars—were scheduled to trade ex-dividend today.

F&O Ban List:

Eight stocks were placed on the F&O ban list for the trading session. These stocks were BHEL, Escorts, GMR Infra, Hindustan Copper, India Cements, Manappuram Finance, RBL Bank, and Sun TV.

Day Trading Guide for Today: Six Stocks to Buy or Sell on Friday, September 22

Intraday Stock Recommendations:

Sumeet Bagadia (Executive Director at Choice Broking):

Infosys: Buy at ₹1420, target ₹1465, stop loss ₹1394.
Titan Company: Buy at ₹3067, target ₹3210, stop loss ₹2980.

Rajesh Bhosale (Technical Analyst, Angel One):

KPI Green Energy: Buy at ₹920, target ₹1000, stop loss ₹870.
Century Plyboards: Buy at ₹660, target ₹720, stop loss ₹620.

Pravesh Gour (Senior Technical Analyst at Swastika Investmart):

CE Info Systems (Map My India): Buy at ₹1775, target ₹1834, stop loss at ₹1735.

Please note that these recommendations are based on the insights provided by market experts and should be considered with appropriate research and risk assessment.