Day Trading Guide for Today: Indian stocks broke their two-day slump last week on Friday, following positive news flows from China on the ‘zero Covid’ policy. The Nifty 50 index closed 64 points higher at 18,117 while the BSE Sensex closed 113 points higher at 60,950. But, Bank Nifty lost 39 points to close at 41,258. The small-cap index outperformed the Nifty with a gain of 0.41 per cent, while the forward decline ratio rose to 1.41:1.
According to stock market experts, Nifty formed a long bull candle on the weekly chart on the edge of a decisive upside breakout of the crucial resistance level of 18,100 (previous top). This is a positive sign and further upside can be expected in the near future.
Stock Market Today: Day Trading Strategies for Monday
Unveiling the intraday trading tips for today, Nagraj Shetty, Technical Research Analyst, HDFC Securities said, “Nifty has a short-term trend and the market is now poised to show a decisive bounce above the 18,100 to 18,200 level hurdles .Another Nifty is expected to move from 18,500 to 18,600 levels in near future. Immediate support for NSE Nifty is placed at 17,950 level.
nifty call put option data
On Nifty Call Put Option Rating, Shilpa Raut, Derivatives Lead Analyst at Prabhudas Lilladher said, “Witness PE writers of Nifty weekly expiry options series are actively adding to their positions of over one lakh contracts at 18000PE – 1.6 lakhs More contracts and more new additions as well as 60k contracts, which continues to be a strong support for the index. The exposure of CE authors is still in 19000 sectors – the freshest high of over one lakh contracts as well as 70 thousand contracts With the additions. PCR_OI at 18000 is now above 1.5, now forming a decisive cushion.”
bank nifty call put option data
“Bank Nifty options series on weekly basis shows the position of creation of more than 70 thousand contracts on PE writers at 41000PE, followed by 40500PE, with CE writers adding exposure at 41500/43500 strike- one lakh and 90 thousand respectively Over contract, which indicates an upward clearing up to 43000 zones for INDEX to move forward,” Shilpa Raut said.
day trading stocks to buy today
On today’s intraday stocks, stock market experts – Sumeet Bagdia, Executive Director, Choice Broking; Mehul Kothari, AVP – technical research at Anand Rathi and Rajesh Bhosale, technical analyst at Angel One – listed these 6 stocks to buy today.
Will buy shares of Sumeet Bagdia today
1]IndusInd Bank: Buy on CMP, Target from 1180 1200, stop loss 1120
2]Aditya Birla Capital: Buy on CMP, Target 130 to 132, stop loss 120
Will buy shares of Mehul Kothari today
3]Adani Ports: Buy Here 858, Target 895, stop loss 845
4]Wipro: Buy Here 391, target 410, stop loss 383
Today’s Intraday Stock of Rajesh Bhosle
5]Finolex Cables: Buy On 530, target 551 stop loss 516
6]Muthoot Finance: Buy Here 1076, target 1130, stop loss 1052.
Disclaimer: The views and recommendations given above are those of individual analysts or broking companies and not of Mint.
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