Day Trading Guide for Friday: After witnessing a sharp jump in the past few sessions, the Indian stock market continued to rally for the third consecutive session on Thursday. The Nifty 50 index closed 249 points higher at 16,594 while the BSE Sensex closed 817 points higher at 55,464. Bank Nifty index climbed 660 points to end at 34,475. According to stock market experts, the current market pattern is indicating a higher level of profit-booking.
Day Trading Guide: What do global signals indicate?
Short-covering expected to continue; Anuj Gupta, Vice President, IIFL Securities said, “Both Dow Jones and SGX Nifty live indexes are showing slight weakness but the major trigger will be the ongoing geopolitical tensions between Russia and Ukraine. As the Indian stock market is in oversold position, I would like to know more about it. Hoping to be bordered with a positive bias session today.”
day trading guide for stock market today
Today’s Trading Guide for Nifty Unveiled; Nagraj Shetty, Technical Research Analyst, HDFC Securities, said, “Short term trend of Nifty remains positive. While Nifty reacted closer to the hurdle of 16,750 levels on Thursday, the market is expected to make efforts towards 16,800 to 17,000 levels. Chances are. In the short term. Weaknesses are more likely to emerge from the upper resistance in the coming sessions.”
Russia-Ukraine news is expected to dominate the global stock markets today; Avinash Gorakshakar, Head of Research, Profitmart Securities, said, “The Russia-Ukraine war will continue to be the major trigger for the markets. But, for the Indian markets, Dalal Street is expecting a hike in diesel and petrol prices after the assembly elections of 5 states. The way crude oil prices have been skyrocketing in the last three months, further delay in announcing hike in petrol and diesel prices may impact the positive mood of the market.
Sharing of key Nifty and Bank Nifty levels for intraday traders; Sumeet Bagadiya, Executive Director, Choice Broking said, “The broader range of Nifty today is 16,100 to 16,900 while high risk traders can take the short range of Nifty from 16,300 to 16,750. Similarly, high risk traders can take a range of 34,100 to 34,700 from smaller banks. Nifty range can be taken while the broad range of Nifty Bank index has been kept between 33,700 to 35,000 levels.
Advising intraday traders to indulge in stock specific trading; Ruchit Jain, Lead Research at 5paisa.com said, “Short term momentum will remain dependent on global news flow and international market movements. Trading with a stock specific approach may be a better strategy here as volatility is likely to remain high and trend There is no confirmation yet about the change in price. Traders can look for stock specific opportunities where one should look for the trade set-up on both the sides of the trade. However, one should avoid aggressive positions and Must follow proper risk management principles during such volatile times.”
day trading stocks
Stock market experts share intraday stocks to buy today – Sumeet Bagdia of Choice Broking; Avinash Gorakshakar of Profitmart Securities and Anuj Gupta of IIFL Securities have 6 buy positions today.
Sumit Bagadiya trading stock today
1]Britannia Industries: Buy on CMP, Target from 3350 3400, stop loss 3150
2]GNFC: Buy on CMP, Target from 645 650, target 615
Today’s Intraday Stock of Avinash Gorakshakar
3]Tata Consumers: Speed Buying on CMP, Target 765, stop loss 705
4]Jindal Steel: Buy on CMP, Target 490, stop loss 452
Buying in Anuj Gupta’s shares today
5]Tata Power: Buy on CMP, Target 255, stop loss 218
6]Ashok Leyland: Buy on CMP, Target 120, stop loss 97.
Disclaimer: The views and recommendations given above are those of individual analysts or broking companies and not of Mint.
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