Stock market today : Trade setup for Nifty 50 to Q3 results today; 5 stocks to buy or sell on Friday — 17 January 2025
Stock Market Today: Nifty 50 index now faces immediate resistance at 23460, with potential for further upside toward its 200-day EMA (exponential moving average) at 23,680. The support level has moved higher to 23150, as per experts
Stock market today
Markets, though rangebound, ended on a positive note, with the benchmark Nifty 50 index and S&P BSE Sensex gaining 0.42% each and ending at 23,311.80 and 77,042.82, respectively. The Bank Nifty, at 49,278.70, was also up 1.08%. Among other sectors, while metals and energy showed a decent recovery, the FMCG and pharma sectors, on the other hand, closed lower. Broader indices outperformed, registering gains ranging from 1.1-1.8%.
Stock market today :Trade Setup for Friday
The Nifty 50 index now faces immediate resistance at 23460, with potential for further upside toward its 200-day EMA (exponential moving average) at 23,680. The support level has moved higher to 23150, as per Devarsh Vakil, Head – Prime Research, HDFC Securities
The Bank Nifty index had a hurdle at around 49,900, and on the downside, support stood at 47,900, as per Hrishikesh Yedve, AVP of Technical and Derivatives Research at Asit C. Mehta Ltd.
Global Markets to Q3 Results Today
Markets will react to the Q3 Results and earnings report of major index constituents such as Reliance Industries, Infosys, and Axis Bank in early trades on Friday. While recent index movements have lacked clear direction, the resilience of the banking sector, which carries significant weight, is a positive sign. Amid these mixed signals, participants should prioritize selective stock picking and robust risk management strategies, said Ajit Mishra – SVP, Research, Religare Broking Ltd
Stocks to buy today
Sumeet Bagadia, Executive Director at Choice Broking, has recommended two stock picks for today. Ganesh Dongre, Senior Manager of Technical Research at Anand Rathi has suggested three stocks.
SENSEX trades 400 pts lower in morning trade, NIFTY50 tests 23,200; Infosys falls 6%, RIL jumps 5% post Q3 results
Stock market today: The domestic equity market was trading in the red in the morning deals on Friday, January 17, mainly on account of selling in IT stocks.
At 9:53 AM, the S&P BSE SENSEX was trading at 76,662.87 levels, down 379.95 points, or 0.49%, while the NSE’s NIFTY50 index was trading at 23,218.85, down 92.95 points, or 0.4%.
As many as 30 constituents of the NIFTY50 index were trading in the green and the remaining 20 in the red.
The top five losers on the index were Infosys, Axis Bank, ICICI Bank, Wipro, and Kotak Mahindra Bank.
The top gainers were RIL, Hindalco Industries, BPCL, Coal India, and Sun Pharma.
Stock market today in news
Infosys: Shares of Infosys, the IT bellwether, dropped as much as 5.83% to ₹1,816 apiece on the NSE in the early trade on Friday, January 17, a day after the company reported its financial results for the quarter ended December 31, 2024 (Q3 FY25).
Broader Market
The BSE MidCap index was trading at 43,884.38, up 140.69 points, or 0.32%, while the BSE SmallCap index was trading at 52,332.55, up 23.88 points, or 0.05%.
Sector Watch
IT stocks were the biggest losers on the BSE today, followed by banking and financial services counters.
The BSE Information Technology index was trading at 41,862.60 levels, down 947.37 points, or 2.21%, while the BSE BANKEX index was trading at 55,041.36, down 903.70 points, or 1.62%.
The BSE Financial Services index was trading 0.86% lower at 10,934.59.
With Thanks and Reference to:https://www.livemint.com/market/stock-market-news/stock-market-today-trade-setup-for-nifty-50-to-q3-results-today-5-stocks-to-buy-or-sell-on-friday-17-january-2025-11737027422677.html and https://upstox.com/news/market-news/stocks/axis-bank-share-price-drops-3-5-after-q3-fy-25-results-here-s-why/article-140864/
