Day Trading Guide for Friday: After showing a sharp jump in the previous session, Indian stocks slipped into weak territory on Thursday following weak global cues. Nifty 50 index lost 216 points to end at 17,542, BSE Sensex closed 770 points lower at 58,766 while Nifty Bank index ended 235 points lower at 39,301. Broad markets outperformed as mid-cap and small-cap indices rose 0.57 per cent and 0.48 per cent, respectively.
According to Share Market After experts reacted to the crucial trend line resistance at 17,900 levels last month, Nifty took another turn towards the trend line hurdle at 17,800 levels on Tuesday, before witnessing another round of selling pressure from higher levels on Tuesday. Tried.
day trading guide for stock market today
Speaking on the Nifty 50 Index outlook, Nagraj Shetty, Technical Research Analyst, HDFC Securities said, “Short term trend of Nifty 50 remains limited with high volatility. There is a possibility of an upside move from the lower support of 17,350 to 17,300. Short term Level in. The immediate resistance for the Nifty 50 Index is placed at 17,650 levels.
On Nifty Call Put data, Shilpa Raut, Derivatives Lead Analyst at Prabhudas Lilladher said, “The market is definitely on a secret mission to support the Bulls, as it is happening on buy on Dips Way. Nifty Options for Weekly Expiry. The series reflects on CE. Writers aggressively added more than 70 thousand annexes in 18000 CE, followed by the highest fresh annexes in 18500 CE – more than 40 thousand additions. PE writers working their way up to 17000PE – in total With over 60 thousand contracts, signals further on the range between 17000-19000. The PCR OI at 17500, being around 2, is now forming a new support base for the index.”
“Bank Nifty Future Option Chain on PE writers is active at 38000PE – with over 40k contracts, and CE writers add their positions all the way up to 42000 strike – with new additions of over 25k contracts each, fixed are clearly indicating the strength to continue now,” said Shilpa Raut.
day trading stocks
Unveiling the intraday stocks for today, stock market experts – Vaishali Parekh, Vice President – Technical Research at Prabhudas Lilladher and Anuj Gupta, Vice President – IIFL Securities – recommended 4 stocks to buy today.
Today’s Intraday Stock of Vaishali Parekh
1]Cummins India: Buy Nearby 1222, target 1255, stop loss 1205
2]Gujarat Kshar: Buy Nearby 902, target 955, stop loss 882
Anuj Gupta’s shares selected for today
3]Federal Bank: Buy on CMP, Target 132, stop loss 108
4]State Bank of India or SBI: buy momentum on CMP, target 565, stop loss Hong Kong’s Hang Seng lost 1.79 per cent, down 505.0.18 per cent, while Chinese Shanghai was trading flat around Thursday’s close.
Disclaimer: The views and recommendations given above are those of individual analysts or broking companies and not of Mint.
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