Day Trading Guide for Monday: Indian stock market is going to open today after an extended weekend of 3 days. On Thursday, the bullish trend in the market continued and NSE Nifty closed at 18,338 level by 176 points while BSE Sensex closed at 61,305 level. Bank Nifty on Thursday climbed 705 points to close at 39,340 level. According to stock market experts, last week the Indian stock market saw two opening upside gaps one after the other in the last two sessions. It shows a sharp upside momentum, which is unfolding in the market.
The day when the volumes on NSE were higher than the recent average; Realty, power, metals, capital goods and bank indices were the main gainers, while auto was the only loser. Mid-cap and small-cap indices rose close to 0.5%.
Trade View on NSE Nifty
Intraday Trading Strategy Unveiled for Monday; Nagraj Shetty, Technical Research Analyst, HDFC Securities said, “Short term trend of Nifty remains positive. Though Nifty closed near all time highs, there is no sign of any upside formation at new highs. Profit-booking can be expected in the week Nifty from the level of 18,500 to around 18,600. The immediate support for NSE Nifty has been placed at 18,265 level.
day trading stocks for today
While sharing the intraday stocks for today, stock market experts – Sumeet Bagdia, Executive Director, Choice Broking and Ravi Singh, Head of Research and Vice President, Share India, recommended 5 buys today.
Will buy shares of Sumeet Bagdia today
1]HDFC: buy speed on cmp, target ₹from 2850 ₹2880, stop loss ₹2750
2]Indian Oil Corporation Limited or IOCL: Buy on CMP, Target ₹from 138 ₹140, stop loss ₹130
Will buy shares of Ravi Singh today
3]Hindalco Industries: buy on ₹515, target ₹535, stop loss ₹511
4]PFC: buy on ₹146, target ₹155, stop loss ₹143
5]ACC: buy on ₹2310, target ₹2360, stop loss ₹2295
Disclaimer: The views and recommendations given above are those of individual analysts or broking companies and not of Mint.
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