Day Trading Guide for Today: In this torn trading week, Dalal Street is going to reopen after a gap of one day of stock market holiday. On Tuesday, Indian indices broke a seven-day winning streak and ended in the red zone. NSE Nifty closed 74 points lower at 17,656, BSE Sensex lost 287 points to 59,543 while Nifty Bank closed 182 points lower at 41,122. The mid-cap index outperformed major benchmark indices even after rising 0.45 per cent, while the forward decline ratio came in at 0.61:1.
According to Share Market According to experts, Nifty is set to move towards the previous intermediate high of 18,096, but the index may see a slight correction in the very near term. It is important that Nifty can stay above the immediate support of 17,607 to 17,503 to continue the uptrend.
Today’s Trading Strategies for the Stock Market
“Although Nifty remains in a short term uptrend and is set to move towards the previous intermediate high of 18096, it is important that on any mild correction the index remains above the immediate support of 17607-17503 to continue the uptrend ” Subhash Gangadharan, Senior Technical and Derivatives Analyst, HDFC Securities said.
Experts at HDFC Securities said that Nifty is still in a short-term uptrend as it moved above the previous swing high of 17429 and made a higher bottom in the past few weeks. Nifty also closed above the downward sloping trend line which is maintaining the 2021 and 2022 highs.
nifty call put option data
Speaking on Nifty Call Put Option Ratio, Shilpa Raut, Derivatives Lead Analyst at Prabhudas Lilladher said, “Witness PE writers of the Nifty weekly expiry options chain actively add their positions across various strikes up to 17000/17500 strikes – a total of one lakh The contract and CE authors stand. Tall at the level of 18000CE – more than 2 million contracts, with high additions of over 30 thousand contracts in various instant attacks. The PE OI observed in immediate attacks and PCR_OI at 17700 is 0.35, which is now Presenting a strong resistance to the index.”
bank nifty call put option data
“Bank Nifty options series on a weekly basis shows the position of PE writers building at 40,000 strikes – over one lakh contracts in total, with CE writers adding equal and fair exposure at 41500-42000 strikes – one lakh each This indicates a wide range between 40000-42000 sectors for the index,” Shilpa Raut said.
day trading stocks to buy today
Speaking on intraday trading tips, stock market experts – Sumeet Bagdia, Executive Director, Choice Broking, Anuj Gupta, Vice President – Research at IIFL Securities and Manoj Dalmiya, Founder and Director of Profitable Equities – recommended 5 buys today Of.
Will buy shares of Sumeet Bagdia today
1]NTPC: Buy on CMP, Target from 175 178, stop loss 164
2]JSW Steel: Buy on CMP, Target from 660 680, stop loss 620
Anuj Gupta’s Stock Picks for Thursday
3]ICICI Bank: Buy on CMP, Target 960, stop loss 888
4]MCX: Buy on CMP, Target 1550, stop loss 1455
Today Stock of Manoj Dalmiya
5]IndusInd Bank: Buy Here 1153, target 1164, stop loss 1147.
Disclaimer: The views and recommendations given above are those of individual analysts or broking companies and not of Mint.
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