Day Trading Guide for Today: After a day’s fall, the Indian stock market jumped on Thursday and closed in a positive zone. The Nifty 50 index closed 80 points higher at 17,736 while the BSE Sensex closed 212 points higher at 59,756. Bank Nifty closed 176 points higher at 41,299. Realty across sectors. Oil & Gas, Metals and Power indices were the biggest gainers while IT index declined the most. The advance fall ration ended positive at 1.23:1.
According to Share Market According to experts, Nifty can now try to test the recent highs of 17,812 to 17,919. Once above these levels, Nifty is set to move towards the previous intermediate high of 18,096. The index may see slight improvement in the near future. It is important that Nifty is above the immediate support level of 17,607 to 17,505 for the uptrend to continue.
Today’s Trading Strategies for the Stock Market
Speaking on the technical outlook for Nifty 50 index, Subhash Gangadharan, Senior Technical and Derivatives Analyst, HDFC Securities said, “Although Nifty remains in a short term uptrend and is poised to move towards the previous intermediate high of 18,096 But, it is important that on any minor correction, the index remains above the immediate support of 17,607 to 17,505 points to continue the uptrend.”
Ruchit Jain, Lead Research, 5paisa.com, on Intraday Trading Tips, said, “Nifty has traded in the range of 17600-17800 in the last three trading sessions, but with the market breadth turning positive, the key support remains intact. It has corrected in few sessions and came back below 110 level which is positive for equity markets. The RSI oscillator on the daily as well as hourly chart is indicating positive momentum.
Unveiling the day trading strategy, Ruchit Jain of 5paisa.com said, “Traders should continue to trade with a positive bias till Nifty 50 index remains support, or till the data changes. One should look for stock specific buying opportunities.”
nifty call put option data
On Nifty Call Put Option Ratios, Shilpa Raut, Derivatives Lead Analyst at Prabhudas Lilladher said, “PE writers in Nifty Weekly Expiry Option Series actively add their positions on various strikes of more than 55 thousand contracts but 17700 strikes. The highest fresh exposure has been observed at CE – over 40 thousand annexes. CE authors stand at the level of 18400 CE – over 80 thousand annexes, with high additions of over 70 thousand annexes. PCR_OI at 17700 just below 1 It is important to look forward to direction.”
bank nifty call put option data
“Bank Nifty options series on weekly basis shows the position of PE writers creation at 40,000 strike – over 40 thousand contracts in total, with CE writers exposure at 41500 strike, followed by 43000 strike – 20 thousand plus each The latest addition of contracts, indicating an immediate range between 40000-41500 zones for the index with an expanded target of 43000,” said Shilpa Raut of Prabhudas Lilladher.
day trading stocks to buy today
On today’s intraday stock, stock market experts – Sumeet Bagdia, Executive Director, Choice Broking, Anuj Gupta, Vice President – Research at IIFL Securities, Ravi Singhal, CEO, GCL Securities and Manoj Dalmiya, Founder and Director, Proficient Equities – recommended 6. Stocks to buy or sell today.
Today’s Intraday Stock of Sumeet Bagadiya
1]Sun Pharma: Buy on CMP, Target 1030 and 1050, stop loss 990
2]Tata Steel: Buy on CMP, Target 108-110, stop loss 100
Will buy shares of Anuj Gupta today
3]Coal India: Buy on CMP, Target 265, stop loss 225
4]BEL: Buy on CMP, Target 115, stop loss 102
Ravi Singhal’s stock today
5]DLF: Buy Here 382, target 394 more 400, stop loss 377
Will buy shares of Manoj Dalmiya today
6]Adani Ports: Buy Here 832, target 837, stop loss 828.50.
Disclaimer: The views and recommendations given above are those of individual analysts or broking companies and not of Mint.
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