Day Trading Guide for Thursday: After showing a sharp jump from the lows on Tuesday, Nifty shifted to a consolidation movement on Wednesday and closed 15 points lower at 17,546 levels. The BSE Sensex closed at 58,927, down 77 points. On Wednesday, the Indian stock market opened with a positive trend, tried to gain in the early part of the session. It was later shifted to a narrow intraday range and continued for the entire session. According to experts, this pattern indicates a respite momentum followed by a reversal from the lows.
On a day when volumes on the NSE were in line with the recent average – realty, metal and auto indices were the biggest gainers, while banks, utilities and FMCG suffered the most. The broader indices outperformed their larger peers, with the S&P BSE Mid-cap gaining 1.5 per cent and the S&P BSE Small-cap gaining over 1 per cent.
Trade View on NSE Nifty
Speaking on intraday trading strategy; Nagraj Shetty, Technical Research Analyst, HDFC Securities said, “Short term uptrend continues and the market is taking a breather before showing any further upside. The overall chart pattern of daily and weekly indicates the possibility of range-bound action in the next 1-month period. 2 trading sessions before proceeding further. Important upper hurdles for NSE Nifty are placed at 17,625 and 17,790 levels and immediate support is placed at 17,445 levels.
intraday stocks for today
Today’s Trading Shares Unveiled, Stock market expert – Sumeet Bagdia, Executive Director, Choice Broking; Sandeep Matta, Founder, TRADEIT Investment Advisors; Dr. Ravi Singh, Founder and Director, DRS Advisory; Manoj Dalmiya, Director & Founder, Proficient Equities Pvt Ltd and Rohit Singre, Senior Technical Analyst LKP Securities – recommended 9 day trading stocks to buy today.
Sumit Bagadiya trading stock today
1]Grasim Industries: buy speed on cmp, target ₹from 1625 ₹1650, stop loss ₹1525
2]Oil India Limited: Buy on CMP, Target ₹from 230 ₹240, stop loss ₹205
Will buy shares of Rohit Singre today
3]United Breweries Limited or UBL: Buy on CMP, Target ₹from 1670 ₹1690, stop loss down ₹1624
4]Century Textile: Buy on CMP, Target ₹960, stop loss ₹880
Will buy shares of Sandeep Matta today
5]Vedanta: buy on ₹294, target ₹from 308 ₹316, stop loss ₹294
6]Lupine: buy on ₹940, target ₹965, stop loss ₹920
Today Stock of Manoj Dalmiya
7]Birlasoft: buy on ₹435, target ₹455, stop loss ₹426
Ravi Singh shares selected for today
8]Ashok Leyland: buy on ₹128.50, target ₹135, stop loss ₹125
9]Federal Bank: buy on ₹81, target ₹88, stop loss ₹78.
Disclaimer: The views and recommendations given above are those of individual analysts or broking companies and not of Mint.
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