Day trading guide for today: Following weak global cues, the Indian stock market on Monday halted its two-day rally. The NSE Nifty closed at 16,988, down 111 points, while the BSE Sensex closed at 57,628, down 360 points. The Nifty Bank index closed at 39,361, down 236 points. Broader market indices fell more than Nifty reflecting high jitters among non-institutional players. The advance drawdown ratio fell to 0.39:1.
Day trading guide for stock market today
speaking on the outlook for smelly TODAY, Nagraj Shetty, Technical Research Analyst, HDFC Securities said, “The short term trend smelly continues to be negative. The formation of long lower shadow over the last three sessions and the formation of Doji and Hammer type candle patterns at the lower level of 16,800 over the last few sessions indicate the possibility of a lower bottom reversal for Nifty in the short term. A sustained move above the 17,150 level could confirm the short-term bottom pattern.”
“If we look at the daily chart, Nifty has formed two Doji candles at the end of last week and a ‘Hammer’ candlestick pattern in Monday’s session. This indicates that the bulls are trying to defend this area. The market is above this level,” said Ruchit Jain, Lead Research at 5paisa.com.
Unveiling the day’s trading strategy for Tuesday, Ruchit Jain said, “Traders should look for stock specific trading opportunities and look for signals from global markets as news flows from the world are driving traders’ sentiments at the moment “
day trading stocks to buy today
On intraday stocks for today, stock market experts – Sumeet Bagadia, Executive Director, Choice Broking and Ganesh Dongre, Senior Manager – Technical Research, Anand Rathi recommend 4 stocks to buy today.
Sumit Bagadia’s shares will be bought today
1]Grasim Industries: Buy at CMP, target 1620 and 1640 stop loss 1560
2]Kotak Mahindra Bank: Buy on CMP, target since 1730 1740 stop loss 1670
Ganesh Dongre’s stock is up on Tuesday
3]Colgate Palmolive: Buy at 1498, target 1550, stop loss 1460
4]ICICI Bank : Buy on 836, target 855 stop loss 825.
Disclaimer: The views and recommendations given above are those of individual analysts or broking companies and not of Mint. We advise investors to check with certified experts before taking any Investment Decision.
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