Day Trading Guide for Friday: After weak global cues and overnight losses in US markets, the Indian stock market ended in the red zone for the third consecutive session on Thursday. The Nifty 50 index closed 168 points lower at 17,639 while the BSE Sensex closed 575 points lower at 59,034. Nifty Bank index lost 75 points to close at 37,557.
According to stock market experts, the secondary market is currently led by non-institutional players, who have started taking profits aggressively due to reduction in balance sheet by the US Fed. He expected very little build-up for Friday’s session as of today RBI Monetary Policy Meeting Can’t bring any positive surprises.
day trading guide for stock market today
On the ideal day trading strategy for today; Deepak Jasani, Head of Retail Research at HDFC Securities, said, “There was panic in the broader markets on Thursday as the forward drawdown ratio fell below 1:1 after 4 days. Currently, the markets are led by non-institutional players who have Balance sheet reduction by US Fed and taking gains aggressively ahead of RBI policy meeting. Nifty should now seek support from 17,442 to 17,519 band. Friday’s RBI MPC meeting may not bring any positive surprises and hence There seems to be a little build-up ahead of it.”
Speaking on Day Trading Guide with respect to Nifty and Nifty Bank Index; Mehul Kothari, AVP – Technical Research at Anand Rathi Shares & Stock Brokers said, “The broader range for Nifty today is placed between the 17,600 to 17,850 band while the smaller range for the 50-stock index is placed between the 17,550 to 17,800 band. Similarly, for broad range Nifty Bank Index has been placed between 37,200 to 38,300 band while for Bank Nifty Index the short range can be taken between 37,500 to 38,000 levels.
day trading stocks
Intraday share sharing for today, stock market experts; Mehul Kothari of Anand Rathi Shares & Stock Brokers; Avinash Gorakshakar, Head of Research, Profitmart Securities and Anuj Gupta, Vice President, IIFL Securities has a buy recommendation on 6 stocks today.
Today’s Intraday Stock of Mehul Kothari
1]HDFC Bank: Buy on CMP, Target 1625, stop loss 1450
2]Suntec Realty: Buy on CMP, Target 530, stop loss 450
avinash gorakshakar today trading stock
3]Axis Bank: Momentum buy on CMP, target 825, stop loss 778
4]LIC Housing Finance: Buy on CMP, Target 410, stop loss 385
Buying in Anuj Gupta’s shares today
5]Yes Bank: Buy on CMP, Target 23, stop loss 9
6]Indian Hotels: Buy on CMP, Target 290, stop loss 224.
Disclaimer: The views and recommendations given above are those of individual analysts or broking companies and not of Mint.
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