3 weeks ago

Gift Nifty Signals Flat Start Amid US-Iran Hormuz Uncertainty

Gift Nifty Signals Flat Start Amid US-Iran Hormuz Uncertainty
Buy or sell: Gift Nifty signals a flat start. Vaishali Parekh recommends three intraday stocks to buy today · livemint.com

Think of the stock market like a big shop where people buy small pieces of companies.

Sometimes prices go up, and sometimes they go down.

Today, the shop in India is expected to stay very quiet because people around the world are worried.

Two countries, the United States and Iran, are talking about a very important waterway called the Strait of Hormuz.

Many ships carrying oil sail through this waterway, so what happens there matters to everyone.

The talks are hard, and the US wants something from Iran while Iran keeps making its own conditions.

Because of this worry, oil has become more expensive, now about 82 dollars for one barrel.

When oil gets pricey, companies spend more, so investors become careful.

A market expert named Vaishali Parekh thinks the Indian market will start flat and stay near the 24,600 level.

She also picked three companies she believes could be good options to buy and trade today.

Key facts

Market opening signal
Gift Nifty indicates a flat start
Nifty 50 expected level
Around 24,600
Nifty breakout level
24,700 (200-period moving average)
Nifty support level
24,400
Bank Nifty level
Around 57,700
Bank Nifty resistance/support
Resistance 58,500; support 57,000 (50-EMA)
WTI crude oil price
Near $82 per barrel
Intraday stock picks
APL Apollo Tubes (buy ₹2,020, target ₹2,100), Tata Consumer Products (buy ₹1,108, target ₹1,160), NRB Bearings (buy ₹478, target ₹510)

Quotes

Vaishali Parekh

Vice President, Technical Research, Prabhudas Lilladher

“"The Bank Nifty index, as we have been mentioning, would need a decisive breach above the tough resistance hurdle at the 58,500 zone, whereas it would have the near-term support zone near the important 50-EMA level at the 57,000 zone, which needs to be sustained to maintain the overall bias intact"”
livemint.com
“"APL Apollo Tubes: Buy at ₹2020, Target ₹2100, Stop Loss ₹1980; Tata Consumer Products: Buy at ₹1108, Target ₹1160, Stop Loss ₹1090; NRB Bearings: Buy at ₹478, Target ₹510, Stop Loss ₹468"”
livemint.com

Sources

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