Stock market today: Trade setup for Nifty 50 to VIX; 5 stocks to buy or sell Bank Nifty remains above support level of 49,650; buy-on-dips strategy advised
Stock Market Today: February 11 Insights
As the stock market opens today, investors are keenly watching the Nifty 50’s performance alongside the Bank Nifty. With the Bank Nifty holding strong above the crucial support level of 49,650, a buy-on-dips strategy is highly recommended. Let’s dive into the trade setup for Nifty 50 and identify some stocks to consider for your portfolio.
Nifty 50 Trade Setup
The Nifty 50 is expected to exhibit volatility, influenced by global cues and local market sentiment. Key resistance is observed near the 18,200 mark, while support is strong at around 17,900. Investors should keep an eye on these levels to make informed trading decisions.
Bank Nifty: A Buy-On-Dips Strategy
With the Bank Nifty maintaining its position above 49,650, it’s prudent to adopt a buy-on-dips approach. This strategy not only capitalizes on potential upward movements but also provides opportunities to enter at favorable prices. Keep your eyes peeled for banking stocks exhibiting strength and positive momentum.
5 Stocks to Buy or Sell
- Buy: HDFC Bank – Strong fundamentals and consistent performance.
- Buy: ICICI Bank – Positive news flow and robust growth prospects.
- Sell: Reliance Industries – Watch for profit booking after recent highs.
- Buy: Infosys – Tech sector resilience makes it a strong candidate.
- Sell: Tata Motors – Monitor for potential corrections post-rally.
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Happy trading!
