Nifty’s Muhurat Trading Day Strategy
If you’re planning to trade on the Muhurat day, it’s essential to consider that Nifty has shown resistance around the 19,460 level and consolidated in the last two trading sessions. Many traders token buy on this occasion, leading to a green close for Sensex. However, due to profit booking the next day, it tends to fall. Therefore, be cautious with your strategy on Muhurat trading day as Nifty is expected to trade within a confined range.
Nifty Bank Option Traders’ Strategy
For Nifty Bank option traders in the week ahead, it’s important to note that Bank Nifty has found support at the 21-day Moving Average (DMA) before surging towards the day’s peak. The trend indicates a potential movement of the index towards 44,000/44,200. At the lower end, 43,500 is expected to serve as robust support.
Stock Analysis: Suzlon and Honasa
Suzlon has jumped 15% to hit a fresh high. However, be cautious as the stock has entered the overbought zone according to the Relative Strength Index (RSI), indicating potential profit-taking in the short term. On the other hand, Honasa saw a volatile trading day on Friday; however, trading solely based on technical levels might be premature given the limited data available on the chart.
Top Muhurat Trading Day Picks
If you’re looking for top picks for Muhurat trading day, consider buying NMDC at 165-167 with a target of 180 and a stop loss at 160. Additionally, BEL is another good buy at 133-136 with a target of 167/183 and a stop loss at 117. Lastly, Lemon Tree is also recommended at 110-113 with a target of 135/145 and a stop loss at 99.
Hot Take: Navigating Muhurat Trading Day
As you plan your strategy for Muhurat trading day, remember that token buying often leads to a green close for Sensex. However, due to profit booking tendencies the next day, it tends to fall. Consider these trends when planning your trades and exercise caution.
By
By
By
By
By
By