Market Overview
What happened in the stock market today?
The stock market experienced a downturn on Monday, with Nifty 50 ending 260 points lower at 19,281, BSE Sensex shedding 825 points and closing at 64,571, and Bank Nifty losing 571 points to finish at 43,151. The broader market indices fell even more sharply, with the advance-decline ratio at its lowest in 10 months.
What's the short-term trend of Nifty and Bank Nifty?
According to experts, the short-term trend of Nifty continues to be negative. Nifty is expected to slide down to 18,825 levels, with resistance around 19,400 levels. Bank Nifty, on the other hand, closed below its key support of 43,400, with the next visible support at 42,600. An uptrend is likely upon a successful close above 43,900 for Bank Nifty.
Corporate Actions
What's happening in the corporate world today?
Today, the board meeting of Sonata Software is under scrutiny, as the company is considering and approving interim dividends for FY24 and bonus shares. Investors are also keeping an eye on Tech Mahindra's board meeting, as it's expected to consider and announce interim dividends for the financial year 2023-24.
Which dividend stocks are trading ex-dividend?
In October 2023, Infosys shares are trading ex-dividend, with a 360 percent interim dividend for the financial year 2023-24.
Q2 Results
Which companies are declaring Q2 results today?
A total of 30 listed companies are declaring their respective Q2 results today. These include Axis Bank, Tech Mahindra, Sonata Software, CMS Info Systems, Rallis India, Dreamfolks Services, Gulf Oil Lubricants India, and more.
F&O Ban List
What stock is in the F&O ban list for today?
RBL Bank is the stock placed in the F&O ban list for trading on October 25, 2023.
Day Trading Stocks
What stocks are recommended for day trading today?
Experts have provided recommendations for six stocks to buy or sell for day trading today. Let's take a look at these recommendations:
Sumeet Bagadia's Intraday Stocks:
1. ICICI Lombard: Buy at ₹1,399, target ₹1,490, stop loss ₹1,350.
2. Balkrishna Industries: Buy at ₹2,567, target ₹2,680, stop loss ₹2,490.
Ganesh Dongre's Day Trading Stocks:
3. Aurobindo Pharma: Buy at ₹874, target ₹900, stop loss ₹855.
4. IPCA Labs: Buy at ₹998, target ₹1,030, stop loss ₹975.
Ashish Katwa's Buy or Sell Stocks:
5. Abbott India: Buy at ₹22,716 to ₹22,700 levels, target ₹23,350, stop loss ₹22,400.
6. Aditya Birla Capital November Future: Sell at ₹173.25 to ₹173.50, target ₹168.90, stop loss ₹175.40.
Please note that these recommendations are based on individual analysts' views, and it's advisable to consult certified experts before making any investment decisions.
Conclusion
This FAQ guide provides essential information about the stock market for today, including market trends, corporate actions, Q2 results, F&O ban lists, and day trading stock recommendations. Stay informed, do thorough research, and consider expert advice before making any investment decisions. Happy trading!
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