Day Trading Guide for Friday: Indian markets failed to sustain intraday gains on Thursday as FIIs remained ‘net sellers’, despite strong global cues after the US Fed cooled its tough stance on interest rate hikes. NSE Nifty closed 5 points higher at 16,682 while BSE Sensex closed 32 points higher at 55,702. Bank Nifty index lost 31 points to close at 35,232.
According to stock market watchers, technically the current pattern indicates lack of strength to sustain higher levels. But, it also indicates a halt in a sharp follow-up weakness for the day after a sharp decline from the 16800 level in the previous session. He said that probably the effect of RBI’s sudden rate hike on May 04 is affecting the minds of the participants.
day trading guide for stock market today
Speaking on intraday trading strategy for Nifty today, Nagraj Shetty, Technical Research Analyst, HDFC Securities said, “Short-term trend of Nifty remains negative. Expect to open next low near 16,200 near slide below 16,600 level. Duration. Any attempt to rally to the upside may find strong resistance at 16,800 to 17,000 levels as per the polarity change hypothesis.”
Bull vs Bear: Day Trading Stocks
Sharing the intraday stocks for today, stock market experts – Sumeet Bagdia, Executive Director, Choice Broking; Mudit Goyal, Senior Research Analyst at SMC Global Securities; Rohit Singre, AVP – Research at Bonanza Portfolio; Anuj Gupta, Vice President – Research at IIFL and Avinash Gorakshakar, Head of Research at Profitmart Securities – gave a buy or sell recommendation of 8 stocks today.
Today trading shares of Sumeet Bagdia will be bought
1]Tech Mahindra or TechM: Buy on CMP, Target from 1300 1320, stop loss 1220
2]DLF: Sell on CMP, Target 330 to 325, stop loss 351
mudit goyal stock today
3]UPL: Buy on CMP, Target 845, stop loss 812
Rohit Singre’s stock pick for today
4]Endurance Technologies: Buy on CMP, Target 1350, stop loss 1180
Today’s Intraday Stock of Anuj Gupta
5]Bank of Baroda: Buy on CMP, Target 118, stop loss 94
6]Federal Bank: Buy on CMP, Target 105, stop loss 86
Buying in the shares of Avinash Gorakshakar today
7]Ashok Leyland: Buy on CMP, Target 138, stop loss 118
8]GAIL: Buy on CMP, Target 175, stop loss 155.
Disclaimer: The views and recommendations given above are those of individual analysts or broking companies and not of Mint.