Stock Market Trading Setup: After a long-term slowdown, the Headline Index – BSE Sensex and Nifty 50 – bounced back on Tuesday, March 5th. Both equity benchmarks have made a significant comeback, with a surge of over 1% each. During the daytime market session, BSE Sensex rose 811.93 points to 73,801.86, up 1.11%, while the 50-stake basket Nifty 50 increased 263.80 points (1.19%) to trade at 1:17 at 22,346.45 PM. Banknifty is trading at 48,491.05, up 1.51% or 245.85 points.
Will the trend continue or will it be on fire?
With this rally, traders want to know if this uptrend will continue. In a conversation with Zee Business, several stock market experts evaluated their opinions about Nifty and Bank Nifty.
What to do with the Nifty50 and Bank Nifty? Records the target down
Tina Gadodia believes Rally on the Nifty 50 index could expand even further. Between Banknifty and Nifty 50, she preferred the index of 50 shares over Banknifty. For the Nifty 50, she suggested buying a call option with a target of 22,400 at Expiry on March 13th.
Do I need to take the cell call option on my NIFTY50?
Gadodia also recommends selling 22,600 call options with targets of 160 and 50 outage losses.
What does Banknifty’s “triple bottom pattern” show?
In contrast, Nilesh Jain from Centrum Broking is bullish on Bank Nifty, citing its excellent chart structure and formation of triple bottom patterns. For the Nifty 50, we advise against opposition to future transactions, citing the unfavourable risk response ratio. Instead, he recommends purchasing the Nifty 50 index call option.
Jain suggests buying 22,300 call options in a basket of 50 shares at 100 and 115 with a target of 165 and 200. Stop loss at 70 is recommended to buy 49,100 and 49,300 futures at bank Nifty.
Nilesh Jain recommends buying JSW energy, Rec Stocks. Check your target
JSW Energy Stock Target
Jain also recommends purchasing JSW Energy and Rec Stocks. Regarding JSW Energy, he proposed to buy futures targeted at Rs 512 and Rs 520, resulting in a suspension loss at Rs 492.
REC inventory targets
He recommends purchasing target Rec Futures at Rs 408 and Rs 413.
According to JM Financial’s Soni Patnaik, the Nifty 50 index could witness profit bookings at levels 22,400 and 22,500. She recommends making long trading at current levels.
Should I apply a “buying” strategy?
If the index is trading at 22,300 and 22,200, then a fresh, long-position trade can be made, Patnaik said. However, if someone buys at the 22,000 level, she suggests booking the profit now and waiting for “Dip” to buy. For Bank Nifty, Patnaik recommends buying targets of 49,000 and 49,200.
HAL, what should you do with the best industry? Check your target
Patnaik recommends purchasing shares in HAL and Supreme Industries. She recommends purchasing the HAL Rs 3,500 call option in the range of Rs 85-86 against targets of Rs 140 and Rs 170, earning a stop loss at Rs 60.
Supreme Industries stock targets
Regarding Supreme Industries Stock, she proposed to buy futures targeted at Rs 3,550 and Rs 3,600, which was stopped at Rs 3,370.
How many Nifty 50s can I jump if I hit the 22,450 level?
SMC Global analyst Nitin Murarka predicts the Nifty 50 index will surge between 40 and 50 points after reaching the 22,450 level. He recommends creating 22,200 put options on the expiration date next week, i.e. March 13th.
Murarka proposes a Put option strategy with targets of 125 and 150 and maintains a stop loss to 60.
(Disclaimer: The views/suggestions/recommendations expressed here in this article are made solely by investment experts. Zee Business suggests that readers consult their investment advisors before making any financial decisions.)
