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Today’s Stock Market: Nifty 50 Trade Setup and Top Five Stocks to Consider Buying or Selling on Thursday, June 20th

Posted on June 20, 2024

Stock Market Analysis and Expert Stock Picks for Today

The Indian stock market witnessed a mix of highs and lows in Wednesday’s trading session. While the Nifty 50 and Sensex reached fresh record highs, the Nifty 50 closed in the red due to profit-booking at higher levels. The broader markets also saw a decline, with the Nifty Midcap 50 and Nifty Smallcap Index down.

However, the banking sector stood out as Bank Nifty outperformed the benchmark Nifty 50 and reached a new all-time high. Market analysts attribute this positive performance to short covering and value buying, along with a rebound in FII inflows.

Looking ahead, experts suggest that the trading theme revolves around increasing bets on a soft landing in the US. The immediate goal post for Nifty 50 is seen at the psychological 23,750 mark, with aggressive targets set at the 24,000 mark.

Stock market gurus have recommended buying opportunities for investors. Sumeet Bagadia advised buying State Bank of India (SBI) and Infosys, while Ganesh Dongre recommended buying Kotak Mahindra Bank, Adani Ports and Special Economic Zone Ltd, and Carborundum Universal Ltd.

Investors are advised to closely monitor these stocks and consider the recommendations provided by the experts. As always, it is important to conduct thorough research and consult with certified experts before making any investment decisions.

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