Day Trading Stocks: After showing high volatility on Friday, the Indian stock market shifted to a permanent uptrend on Monday and closed in the green zone with decent gains. NSE Nifty closed 237 points higher at 17,339 while BSE Sensex closed 813 points higher at 58,014 level. Bank Nifty index closed 285 points higher at 37,975 level.
According to stock market experts, after opening with gains on Monday, the Indian secondary market moved northwards in the early part of the session. It later shifted to a narrow intraday range with a positive bias for the remainder of the session. The opening upside gap remains incomplete. Technically, this pattern indicates a consolidation of the upward momentum, following the formation of a swing low of 16,836 on the NSE Nifty on January 25.
day trading guide for stock market today
Today speaking on Day Trading Guide for Nifty; Nagraj Shetty, Technical Research Analyst, HDFC Securities, said, “The market seems to be consolidating in the short term uptrend. Further upside is likely in the next session, but occurrence of higher volatility cannot be ruled out. A till Tuesday’s session. With continued upward move, NSE Nifty may open towards 17,700 to 17,800 levels in near future. Immediate support for NSE Nifty has been placed at 17,260 level.
Speaking on today’s trading guide for Bank Nifty; Anuj Gupta, Vice President, IIFL Securities said, “Immediate support for Bank Nifty is at 37,850 while strong support comes at 37,500 levels. It is facing immediate resistance at 38,460, while it is facing strong hurdles at 38,880. Nifty Overall trend is bullish for the Bank index. And one can keep buying on Dips strategy till the next trigger.”
day trading stocks to buy
Speaking on day trading stocks for today; Stock market experts – Sumeet Bagdia, Executive Director, Choice Broking and Anuj Gupta of IIFL Securities gave buy advice on 4 stocks today.
Sumit Bagadia’s trading shares on Tuesday
1]Infosys or INFY: Buy on CMP, Target from 1790 1810, stop loss 1690
2]Grasim Industries: Buy on CMP, Target from 1780 1800, stop loss 1680
anuj gupta today trading stock
3]Hindustan Aeronautics Limited or HAL: Buy on CMP, Target 1550, stop loss 1360
4]State Bank of India or SBI: buy speed on cmp, target 560, stop loss 520.
Disclaimer: The views and recommendations given above are those of individual analysts or broking companies and not of Mint.
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