Day Trading Guide for Friday: The Indian stock market closed in the green for the second consecutive session on Thursday on strong global cues and lower institutional selling. The Nifty 50 index closed 1.49 per cent higher at 17,392 while the BSE Sensex closed 1.53 per cent higher at 57,911. The Nifty Bank index rose 501 points, or 1.38 per cent, to close at 36,816. Volumes on the NSE remained below the recent average for the second consecutive session, suggesting lower FPI selling pressure. between regions; Auto, IT, Bank and Healthcare indices were the top gainers while Metal indices ended marginally in the negative.
according to this Share Market According to experts, the forward drawdown ratio rose significantly above 1:1, but the gains of small and midcap indices are still lagging vis-a-vis large-caps, indicating that trading interest has shifted to large-caps . He said Nifty had formed an ‘Inside Bar’ reversal pattern on Wednesday and a move above 17,275 confirmed the trend reversal.
day trading guide for stock market today
Speaking on intraday trading strategy with respect to Nifty today; Ruchit Jain, Lead Research, 5paisa.com said, “Nifty formed an ‘Inside Bar’ reversal pattern on Wednesday and a move above 17,275 confirmed the trend reversal. Thus Nifty marked the completion of the corrective phase. resumed its uptrend after .. The broader markets also participated in the uptrend throughout the session. Along with the price rise, some oscillators are also indicating positive momentum and hence we expect the trend to continue in the near term. All sectoral indices (except media) ended in the green and most of them saw a gain of 1-2 per cent. With the rise in prices in the last few sessions, the support base for Nifty has turned higher And 17,270 will now be seen as immediate support. Traders should look for buying opportunities in intraday downside and trade with positive bias. At higher levels, potential near term targets are seen around 17,470 and 17,620.”
echoing the thoughts of Ruchit Jain; Nagraj Shetty, Technical Research Analyst, HDFC Securities said, “Short term trend of Nifty continues to remain positive. A sustained move above the immediate resistance of 17,450 to 17,500 could open the next higher level of 17,800 to 18,000 levels. Term for Nifty.”
day trading stocks
Sharing the intraday stocks for today, stock market experts – Sumeet Bagdia, Executive Director, Choice Broking; Mehul Kothari, AVP – Technical Research, Anand Rathi Shares & Stock Brokers; Rahul Sharma, Head of Research, Equity 99; Anuj Gupta, Vice President – Research at IIFL Securities and Avinash Gorakshakar, Head of Research at Profitmart Securities – recommends these 8 stocks to buy today.
Today trading shares of Sumeet Bagdia will be bought
1]Divi’s Lab: Buy on CMP, Target from 4650 4700, stop loss 4450
2]Kotak Mahindra Bank: Buy on CMP, Target from 1800 1825, stop loss 1725
Today’s Intraday Stock of Mehul Kothari
3]Bandhan Bank: Momentum buy on CMP, target 350, stop loss 325
4]DLF: Buy on CMP, Target 405, stop loss 380
Avinash Gorakshakar stock today
5]State Bank Of India Or SBI: Buy On CMP, Target 540, stop loss 503
Anuj Gupta’s stock pick for today
6]Renuka Sugars: Buy on CMP, Target 62, stop loss 47
Will buy shares of Rahul Sharma today
7]Tata Motors: Buy Nearby 448, target 462, stop loss 440
8]Maheshwari Logistics: Buy Nearby 101, target 112, stop loss 97.
Disclaimer: The views and recommendations given above are those of individual analysts or broking companies and not of Mint.