Day trading guide for today: In a holiday thin session on Monday, Indian stock market indices – Sensex and Nifty – were higher, while the Nifty Bank index ended in the red zone. The Nifty 50 index closed at 17,624, up 24 points, while the Sensex closed at 59,846, up 13 points. However, the Nifty Bank index closed at 40,834, down 206 points. In the broader market, the small-cap index gained 0.16 per cent, while the mid-cap index gained 0.38 per cent. This helped the advance drawdown ratio to remain at 1.13:1.
Day trading guide for stock market today
on outlook for smelly Today, Deepak Jasani, Head of Retail Research HDFC Securities said, “Nifty seems to have run out of steam after a rally in last 6 sessions. Though the trend hasn’t turned bullish yet, it may turn rocky from now on. Short term traders may book some profits.” Needed. Nifty can.” Hold on to 17,530 to 17,772 band in next 1-2 sessions.”
Rohan Patil, Technical Analyst, SAMCO Securities said, “The momentum of rally in the indices is slowing down as prices are moving closer to their intermediate resistance. Both the indices -Nifty-50 and Bank Nifty – remain united on the daily charts. Bearish Bat harmonic pattern and price is trading near its potential reversal zone. The momentum oscillator RSI (14) has seen a breakout of the three-month-long consolidation band and the oscillator closed above its horizontal trend line with a bullish crossover.
for intraday trading tips indian stock market Jobbers, Rahul Ghosh, Founder & CEO, Hedged said, “Nifty index is currently in a congestion zone between 17,650 and 17,900. The index will see some volatility around this range, but the highest open interest is still at 17,000. level, the trend is still to buy on decline.” Rahul Ghosh further added that Bank Nifty saw huge increase in call writing towards 41000 level to end this week which is now going to act as near term resistance for it.
Suggesting F&O traders, Rahul Ghosh said, “For monthly expiry, traders maintain their 41000 short straddle positions, which also indicates that market may give a range breakout only after 42,000 and after April series.” Looking at the formation. Once the index closes below 17,500 level, i.e. buying on a small dip, in both the indices, one can initiate a bull spread in Nifty index with May expiry.
day trading stocks to buy today
When asked about intraday stocks for today, stock market experts – Sumeet Bagadia, Executive Director, Choice Broking; Ganesh Dongre, Senior Manager – Technical Research and Rajesh Bhosale, Technical Analyst at Anand Rathi angel one – Recommended 6 day trading stocks for Tuesday – Mahindra & Mahindra (M&M), Tech Mahindra (TECHM), BPCL, Bajaj Electricals, zomato and Reddington.
Sumit Bagadia’s shares will be bought today
1]Mahindra & Mahindra (M&M): Buy on CMP, Target 1210 and 1225, stop loss 1170
2]Tech Mahindra or TechM: Buy on CMP, Target from 11130 1140 stop loss 1090
Ganesh Dongre trading stocks for today
3]BPCL : Buy on 336, target 348, Stop Loss 328
4]Bajaj Electricals: Buy on 1050, target 1075 stop loss 1033
Rajesh Bhosle’s stock is up on Tuesday
5]Zomato: Buy on 54, Target 58, Stop Loss 51.80
6]Reddington: Buy on 175, target 185, Stop Loss 170.
Disclaimer: The views and recommendations given above are of individual analysts or broking companies and not of Mint. We advise investors to do due diligence with certified experts before making any investment decision.
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