Trading guide: Here are key Nifty levels to watch today; two stocks to buy

Trading guide: How to trade Nifty share price today; check key level, support, stocks to buy

Nifty today: 

The Nifty today witnessed a session marked by massive intraday volatility, ultimately settling with a modest gain. From a technical standpoint, the Nifty failed to decisively surpass the 25,200 resistance on a closing basis, which indicates the continuation of its consolidation trend. The levels of 24,733 will continue to serve as strong support, while 25,200 will remain a key resistance for the Nifty in the short term.  READ STOCK MARKET UPDATES TODAY LIVE

 

Buy Dabur India ₹475, Stop-loss: ₹465, Target: ₹490

The Dabur India stock price has closed above its 10-day moving averages with rising volumes. The stochastic oscillator has exited the oversold zone on the daily chart, which indicates a probable bullish trend reversal for the short term.

 

Buy Chambal Fert ₹562, Stop-loss: ₹550, Target: ₹580

The Chambal Fertlisers stock price has been consolidating near its 200 day EMA support for the last four weeks. After witnessing a healthy correction from its all-time high, the stock seems to have formed short-term base near support. Indicators and oscillators have turned bullish on the daily chart.  (Disclaimer: This article is by Vinay Rajani, senior technical and derivative Analyst at HDFC Securities. Views expressed are his own.)