Nifty 50 Today: US Fed Rate Hangs Over Market, 5 Stocks to Watch

Keywords: Nifty 50, Stock Market, US Fed Rate, Trade Setup, Stocks to Buy, Stocks to Sell, June 18

The Indian stock market opened on a cautious note today, June 18, with the Nifty 50 index hovering around the 19,500 mark. The market’s direction will be heavily influenced by the US Federal Reserve’s rate decision, expected later today. A hawkish stance could lead to further volatility in the Indian market.

Here’s a look at the trade setup for the Nifty 50 and five stocks to watch:

Nifty 50 Trade Setup:

Support: 19,400
Resistance: 19,600

Key Levels: The Nifty 50 is expected to trade within a narrow range today. Traders should focus on the key levels mentioned above and look for breakout opportunities.

Stocks to Buy:

1. HDFC Bank: The stock is showing positive momentum and could continue its upward trend.
2. Reliance Industries: Strong fundamentals and a positive outlook make Reliance a potential buy.
3. Infosys: The IT sector is expected to benefit from global economic growth, making Infosys a promising pick.

Stocks to Sell:

1. Tata Motors: The stock has been under pressure recently and could see further downside.
2. Sun Pharma: The pharmaceutical sector is facing headwinds, and Sun Pharma could be vulnerable to further correction.

Disclaimer: This is not financial advice. Consult with a qualified professional before making any investment decisions.

Stay tuned for updates throughout the day as the market reacts to the US Fed’s decision.