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News Topical, Digital Desk : On Tuesday, the stock market witnessed a decline after an initial rise and the major indexes closed in the red today. Experts advise that the index is currently showing more signs of range-bound trading, so it is better to look for opportunities in stocks. Experts have given advice for Wednesday's trade.
What should be the strategy on the index?
According to market expert Amit Seth, Nifty is still in a range. On Monday, the index saw a recovery. However, resistance remains at important levels for the index and the market has come down once again. He advised positional traders that until the index does not go above 25255, range-bound trading will be seen. On the other hand, if the level of 24850 breaks on the decline, then the difficulties will increase. The same has been seen in Bank Nifty. Yesterday, the index saw a rise, but on Tuesday this rise did not get further support and the index came down from the upper levels. Here the strategy of buying on decline remains. If there is a chance of a fall towards 56400, then you can buy there with a stop loss of 200 points. 57300 is important for the index, if this level is crossed, then new moves can be made. Where are the trade opportunities? Amit Seth has expressed confidence in Hindalco for trade. The stock is at the level of 690. According to him, you can buy here. Amit has advised to keep a stop loss of 684 and has given a target of 702. Earlier, during the session, Shrikant Chauhan of Kotak Securities expressed confidence in Mahindra & Mahindra. According to him, the stock was at the level of 3200 for a long time, now the stock has come out above this level. In such a situation, the level of 3500 is possible in the stock. The target of 3350 can be seen soon. It is advisable to keep a stop loss of 3190. The stock closed at 3232 with a gain of more than one percent on Tuesday.
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