Day Trading Guide for Monday: After showing decent gains on Thursday, the NSE Nifty again went into profit-booking mode on Friday to hit new highs and closed 30 points higher at 17,853 levels. BSE Sensex closed above 60,000 for the first time.
According to experts, the overall positive outlook of the market remains intact and minor weakness is not likely to hurt the uptrend position of the market. The opening upside gap has been completely filled. Technically, this action signals the formation of a spinning top type candle pattern at a higher. Typically, such formations act as a downside reversal pattern after a proper reversal move or more often at a barrier.
trade view on nifty
Speaking on intraday trading strategies; Nagraj Shetty, Technical Research Analyst, HDFC Securities, said, “Nifty has again faced resistance at new highs. The overall positive trend remains intact and minor weakness is unlikely to hurt the market’s uptrend position. Hence, any weakness could be a buying opportunity to drop below the support level of 17,600. The near term target to be seen for NSE Nifty is around 18,200 to 18,300 for the next 1-2 weeks.”
day trading stocks to buy
Intraday shares unveiled for today, Stock market expert – Sumeet Bagdia, Executive Director, Choice Broking; Mudit Goyal, Senior Research Analyst at SMC Global Securities; Sandeep Matta, Founder, TRADEIT Investment Advisors; Kapil Goenka, Founder, Eternity Financial Services; Manoj Dalmiya, Director & Founder, Profitable Equities Pvt Ltd and Dr Ravi Singh, Founder & Director, DRS Advisory made a buy recommendation on 9 stocks today.
Sumeet Bagadiya’s Monday Trading Shares
1]Mahindra & Mahindra or M&M: buy speed on cmp, target ₹from 800 ₹820, stop loss ₹760
2]Eicher Motors: Buy on CMP, Target ₹3050, stop loss ₹2875
mudit goyal stock today
3]HDFC Bank: Buy on CMP, Target ₹1650, stop loss ₹1590
Sandeep Matta’s intraday share for today
4]Bharat Forge: buy on ₹750, target ₹790, stop loss ₹725
5]Maruti Suzuki India Limited or MSIL: buy on ₹6950, Target ₹7200, stop loss ₹6800
Will buy day trading stock of Manoj Dalmiya today
6]Tata Chemicals: buy on ₹886, target ₹915, stop loss ₹877
Kapil Goenka’s intraday share for today
7]ITC: buy on ₹238, target ₹250, stop loss ₹233
Will buy shares of Ravi Singh today
8]India Cements: buy on ₹186, target ₹198, stop loss ₹182
9]Infrastructure Development Finance Company or IDFC: buy on ₹55, target ₹60, stop loss ₹52.
Disclaimer: The views and recommendations given above are those of individual analysts or broking companies and not of Mint.
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