Day Trading Guide for Tuesday: The Indian stock market continued to rally on Monday with range-bound action on the back of fall in inflation expectations and easing of COVID-19 restrictions in China. The Nifty 50 index closed 132 points higher at 15,832 while the BSE Sensex closed 433 points higher at 53,161. The Nifty Bank index rose 183 points to end at 33,811.
According to Share Market According to experts, the critical overhead resistance at 15,800 levels (previous swing lows as per the concept of change in polarity) has been drawn to the upside. However, further downside followed by an upside breakout and the formation of range bound action after the open could undermine the effort of the bulls to maintain higher levels.
day trading guide for stock market today
Speaking on today’s trading guide for Nifty, Nagraj Shetty, Technical Research Analyst, HDFC Securities said, “Short-term trend of Nifty remains positive. Lack of strength to sustain higher levels during an upward breakout. The performance is likely to continue further. Consolidation from higher or a downside correction. On the other hand, a decisive upside move above 15,900 could lead to further hurdles near the 16,200 level.”
day trading stocks
Sharing the intraday stocks for today, stock market experts – Rajesh Bhosale, Technical Analyst, Angel One Limited; Mehul Kothari, AVP – Technical Research at Anand Rathi; Rohit Singre, AVP of Technical Research at Bonanza Portfolio and Anuj Gupta, Vice President, IIFL Securities recommend 8 stocks to buy today.
Rajesh Bhosale’s intraday stock for today
1]NTPC: Buy Nearby 138.50, target 142, stop loss 136.60
2]Ambuja Cements: Buy Nearby 365, Target 378, stop loss 359
Mehul Kothari’s stock picks for Tuesday
3]Buy on: Mphasis 2340, target 2420, stop loss 2300
4]Havells India: Buy Nearby 1102, target 1150, stop loss 1080
Anuj Gupta’s day trading shares buy
5]Paytm: Buy on CMP, Target 760, stop loss 668
6]LIC: Buy on CMP, Target 740, stop loss 628
Shares of Rohit Singre’s day
7]CCL Products: Buy at CMP, Target 400, stop loss 365
8]JSW Energy: Buy on CMP, Target 230, stop loss 209.
Disclaimer: The views and recommendations given above are those of individual analysts or broking companies and not of Mint.