Day Trading Guide for Friday: After opening on a flat note in Thursday’s session, the Indian stock market managed to end in the green zone and the Nifty 50 index closed 105 pins higher at 16,628 levels. The BSE Sensex closed 436 points higher at 55,818 while the Bank Nifty index fell 7 points to end at 35,613.
According to Share Market According to experts, NSE Nifty has recently given breakout above 12,450 levels and now 12,400 to 12,450 looks good immediate support for the markets. He further added that the short term trend of the market is expected to be positive.
day trading guide for stock market today
Speaking today on Day Trading Guide for Nifty, Ruchi Jain, Lead Research, 5paisa.com said, “Recently, Nifty gave a breakout from the resistance end of the consolidation phase which was placed around 16,400 to 16,450. This resistance was broken with a gap up opening and thus this breakaway gap will now be seen as support on intraday correction. During the day, the index corrected properly towards the gap area and recovered from that support zone Broadly speaking, as long as the index trades above 16,400, the short term momentum remains positive and the index may try to reach the resistance level which is seen near the ‘200 DEMA’ at 16,750 Therefore, traders should trade with a positive bias till the index trades above 16,400 and keep an eye on profit-booking. Move towards 16,750. Within this broad range, stock specific moves provide better trading opportunities. and hence, short term traders should take advantage of it.”
day trading stocks
Sharing the intraday stocks for today, stock market experts – Sumeet Bagdia, Executive Director, Choice Broking; Anuj Gupta, Vice President – Research at IIFL Securities and Mehul Kothari, AVP – Technical Research at Anand Rathi – listed 6 stocks to buy today.
Today’s Intraday Stock of Sumeet Bagadiya
1]IndusInd Bank: Buy on CMP, Target from 960 970, stop loss 920
2]NMDC: Buy on CMP, Target 135, stop loss 124
Day Trading Stock of Mehul Kothari
3]Godrej Agrovet Ltd: Buy Nearby 526, target 569, stop loss 518
4]Adani Transmission: Buy Nearby 2030, Target 2130, stop loss 1975
Today’s rise in Anuj Gupta’s shares
5]Axis Bank: Buy on CMP, Target 735, stop loss 655
6]ITC: Buy on CMP, Target 310, stop loss 254.
Disclaimer: The views and recommendations given above are those of individual analysts or broking companies and not of Mint.