The Stock Market Updates: Market Stabilizes after 3 days of Volatility

In today’s share market news live NSE Nifty was up by 0.43% or 97 points at 22,718, whereas BSE Sensex was at 74,715 up by 0.45% or 333 points in early trading. 2,708 stocks were actively traded from which 2,226 advanced, 385 declined, and 97 stocks remained the same. Further, 41 and 19 stocks hit a 52-week high and low respectively. After the 3 days of volatility, the Stock market today opened back to normalcy.

The Chief Investment Strategist at Geojit Financial Services, Dr. V K Vijayakumar, said, “As the market returns comes back to normalcy after the abnormal volatility of the last three days, the global construct has turned favourable, with rising possibility of rate cuts by the Fed. Clear signs of a weakening labour market in the US has led to a sharp decline in the US bond yield to 4.29 per cent. Even though this is favourable for foreign capital inflows, the FIIs continue to sell on high valuations in India, particularly, in comparison to the cheap valuations of Chinese stocks. In the near-term we have political stability, but political developments will continue to weigh on the markets. A concern in the market is that the BJP’s dependence on allies might put economic reforms on the back burner, impacting growth and, thereby, corporate earnings in the long run.”

Share market today

The Senior Technical Research Analyst at HDFC Securities, Nagaraj Shetti said, “Technically, this pattern indicates bullish inside day type pattern formation. This market action signals a counterattack of bulls after one day of weakness in the market. This is a positive indication. Nifty moved above the crucial hurdle of mid part of Tuesday’s long range bear candle around 22,250 on Wednesday and closed higher”.

He further said, according to this, the next crucial hurdles to be watched are around the higher part of that candle on 23,200 levels.

Check below to learn the Indian stock market prediction for next week:

Nifty OI Data

As per the options data, the highest open interest (OI) on the call side is at the strike price of 22,800, followed by 23,000 strikes. On the put side, the 22,200 strike price is the highest OI.

Nifty 50 Prediction

Nifty showed a recovery on 5th June and was up by 735 points at 21,786. If they maintain its 21-day EMA or 22,500, a buy-on-dip is advised. They could trade within the 3-5% range this week.

Nifty is expected to support between 22,500 and 22,350 in the next session while the resistance is between 22,850 and 23,000.

Bank Nifty Prediction

The Bank Nifty index showed an upsurge of 2,126 points or 4.53% to close at the 49,054 level, above the 21-day EMA. A buy-on-dip approach is suggested with a stop-loss at 47,500. The support is expected at 47,800 and resistance is expected at 49,500 level.

List of share market holiday 2024

The share market holiday 2024 consists of 14 weekdays and 5 weekend holidays. For the detailed holiday list, check the list given below:

FAQ
Which share is best for buy?

Some of the trending stocks to invest in are Reliance, Adani Ports, ICICI Bank, SBIN, Tata Steel, GAIL and IRFC.

How to invest in share market?

Following these easy steps to invest in share market: Open a demat account, open a trading account, Login to your demat account, search the stock you want to invest in, allocate the investment amount, buy the stock and then check the confirmation in your demat account.

Which share is good to buy today?

A few hot stocks to buy today are Bajaj Auto, Reliance Industry, NTPC, Axis Bank, Adani Ports, Coal India Tata Steel, and Shriram Finance.