Day Trading Guide For Monday: 3 Stocks To Buy/Sell On 25th Sept

Benchmark indices the Sensex and the Nifty 50, both ended Friday (September 22) sessions in the negative for the fourth session in a row. The Sensex ended the day at 66,009.15, down 221 points, or 0.33%, while the Nifty 50 closed at 19,674.25 with a loss of 68 points, or 0.34%. The BSE Midcap index dropped by 0.14% on the broader market, while the BSE Smallcap index ended with a modest rise of 0.04%. For the week ended September 22, the BSE Midcap index plummeted by 1.7% and the Smallcap index dropped by 2%.

Nifty Outlook On Monday

According to Jatin Gedia - Technical Research Analyst at Sharekhan by BNP Paribas, "The Nifty is currently trading at a crucial support zone 19720 - 19620 where support parameters in the form of 40 moving average and key Fibonacci retracement level is placed. The speed of the fall has slowed down as the hourly momentum indicator has a positive crossover which indicates that a pullback is likely before the next leg of the fall resumes. The pullback can be till 19850 - 19880 where key hourly moving averages and the gap area formed on 21st September is placed. In terms of levels, 19620 - 19604 is the crucial support zone while 19850 - 19880 shall act as an immediate hurdle zone."

Bank Nifty Outlook On Monday

"Bank Nifty has also witnessed a volatile day of trade. Ultimately the bears managed to keep the index under pressure and it closed on a negative note. More importantly, it has closed below the crucial 20 and 40-day moving averages which is a sign of weakness. The daily momentum indicator has a negative crossover which is a sell signal. Thus, both price and momentum indicators suggest a further decline. Considering the sharp fall during the week it can provide a pullback and so sell-on rise around resistance 44900 - 45000 shall be the preferred trading strategy. On the downside 44500 - 44300 shall be the potential downside from a short-term perspective," said Jatin Gedia.

Stocks To Buy On Monday

Pavitraa Shetty, Co-owner, Tips2trades has recommended 3 stocks to buy on Monday, 25th September.

RVNL

RVNL stock price looks slightly bearish on the Daily charts with strong resistance at 168.7. A daily close below support of 153.5 could lead to 130.5 in the near term.

IFCI

IFCI looks very overbought yet bullish with next resistance at 27.25. Investors should be booking profits at current levels as a daily close below support of 20 could lead to 15.6 in the near term.

Zydus Lifesciences

Zydus Lifesciences stock price looks bearish on the Daily charts with strong resistance at 612.6. A daily close below support of 590 could lead to 575 in the near term.

Disclaimer

The recommendations made above are by market analysts and are not advised by either the author, nor Greynium Information Technologies. The author, nor the brokerage firm nor Greynium would be liable for any losses caused as a result of decisions based on this write-up. Goodreturns.in advises users to consult with certified experts before making any investment decision.