Day Trading Guide for Thursday: After moving upwards with high volatility on Tuesday, the Indian stock market witnessed a sharp jump on Wednesday and closed in the green zone for the second consecutive session. NSE Nifty closed 197 points higher at 17,463 while BSE Sensex ended 657 points higher at 58,465, Bank Nifty index also closed at 581 points and 38,610 levels. According to stock market experts, the opening upside gap in the market is still not filled. He said that in the near term there could be further upside.
Day Trading Guide: What do global signals indicate
Speaking on the day trading strategy for today; Anuj Gupta, Vice President, IIFL Securities said, “On Wednesday, Dow Jones Futures ended in positive territory for the second consecutive session and SGX Nifty is up 38 points at 17,522 levels today, indicating a positive start for the Indian markets. I recommend buy on downside and suggest investors to watch Dow Jones futures today as it is trading in a narrow range from 35,420. 35,900 while for Dow futures the broader range is 35,180 to 36,140.”
Sharing the important range for SGX Nifty, Anuj Gupta of IIFL said, “Today’s short range of SGX Nifty is 17,350 to 17,700 while SGX Nifty has a broader range of 17,100 to 17,950. Breaking of both sides of the range is in coming time. Bullish or bearish pattern will decide the session.”
day trading guide for stock market today
Today’s Trading Guide for Nifty; Nagraj Shetty, Technical Research Analyst, HDFC Securities said, “The short term trend of Nifty has reversed after the bullish candlestick pattern on Tuesday. A further move towards 17,600 to 17,700 levels is likely in the next few sessions. However, the overall chart pattern remains unchanged. Lowering below the level of 17,800 indicates a possibility of weakness. Immediate support for NSE Nifty has been placed at 17,350.
Sharing important levels with respect to Nifty and Bank Nifty; Sumeet Bagdia, Executive Director, Choice Broking said, “For high-risk traders, the short range of Nifty is 17,300 to 17,550 while the broader range of NSE Nifty is 17,200 to 17,600. Similarly, the short range of Bank Nifty is 38,100 to 38,800, Whereas the broad range Bank Nifty is 37,700 to 39,300.”
day trading strategy
Intraday trading strategy unveiled; Ruchi Jain, Lead Research, 5paisa.com said, “Whether an upside move from current levels will be a bullish move or a gradual one is a tough call at present. But since we have already seen a good time- wise Correction also, this is a good opportunity for traders to look for delivery based buying opportunities.For the coming session, the market may see some higher intraday volatility due to RBI policy outcome.But 17000 support remains intact. Till now, one should now look for buying opportunities on intraday downtrend.”
day trading stocks to buy today
While sharing the day-to-day trading stocks for Thursday, Sumeet Bagdia, Stock Market Expert at Choice Broking and Anuj Gupta of IIFL Securities put forward 4 buy recommendations on the shares.
Sumeet Bagadiya Day Trading Stock
1]UPL: Buy on CMP, Target from 790 800, stop loss 750
2]Pidilite Industries or Pidilite: Buy on CMP, Target from 2600 2650, stop loss 2380
Anuj Gupta’s day trading stock today
3]Shree Renuka Sugars: Buy on CMP, Target 44, stop loss 34
4]Federal Bank: buy speed on cmp, target 110, stop loss 94.
Disclaimer: The views and recommendations given above are those of individual analysts or broking companies and not of Mint.
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