Day trading guide for today: The Indian stock market closed with losses for the third day in a row despite registering slight gains in global markets. NSE Nifty marginally broke the key support of 17,770 and touched a low of 17,762 but later recovered and closed 37 points lower at 17,858. The 30-stock index BSE Sensex closed 147 points lower at 59,958, while Bank Nifty closed 150 points lower at 42,082. The small-cap index declined less than the Nifty, although the advance/decline ratio fell to 0.74:1.
According to stock market watchers, the triangle type pattern continues to form on the daily charts and Nifty remained at the lower end of the triangle at 17,800 on Thursday with a falls down breakout. The market is still struggling to hold the highs and we observe continuous formation of lower swing highs on the daily chart.
intraday trading strategy for friday
On intraday trading tips for Friday session, Nagaraj Shetty, Technical Research Analyst HDFC Securities said, “Upward recovery in the market from lower levels could be an encouraging factor for the bulls to make a comeback. But, Nifty needs to maintain a pull back rally to call this action as a bullish reversal pattern.” Need to hold. A sustainable move above 17,950. The 18,000 level could be crucial for an upside bias. Further weakness below 17,800 to 17,750 is likely. to open chances of Spicy Downside breakout in the market.”
smelly call put option data
On smelly Call Put Ratio, Shilpa Raut, Derivatives lead Analyst Prabhudas Lilladher said, “Nifty weekly expiry options chain shows 17900 straddle, where PE and CE writers add to their positions of 80k and 95k OI contracts each. PE writers position more than 50k at 17500 PE.” OI contracts while CE writers add to their positions. Positions all the way up to 19000CE with over 1 lakh OI contracts. PCR_OI at 18000 is 0.28 which is a stiff resistance for the index.”
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bank nifty call put option data
“Bank Nifty weekly expiry options series also sees aggressive straddle at 42000 with over 50K OI contracts each while PE writers add to their positions up to 41000PE with over 30K OI contracts while CE writers still hold positions at 42000″ and is followed by 43000CE of about 50 thousand. OI contracts,” Raut said.
day trading stocks to buy today
Unveiling the intraday stocks for the day, stock market experts – Sumeet Bagadia, Executive Director, Choice Broking and Ganesh Dongre, Senior Manager – Technical Research, Anand Rathi recommend 6 stocks to buy today.
Sumeet Bagadia’s shares are up for Friday
1]JK Cement: Buy at CMP, target since 2975 3000, stop loss 2850
2]MCX: Buy at CMP, Target since 1550 1575 stop loss 1480
ganesh dongre intraday stock for today
3]Buy on IRCTC: 641, target 670, stop loss 625
4] larsen and toubro or LT: buy at 2161, target 2240, stop loss 2120.
Disclaimer: The views and recommendations given above are those of individual analysts or broking companies and not of Mint. We advise investors to do due diligence with certified experts before making any investment decision.
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