Day Trading Guide for Monday, 11 July 2022: Indian stocks closed in the green zone for the third consecutive week on Friday, driven by gains in banking, FMCG and realty stocks. The Nifty 50 index on Friday climbed 88 points to close at 16,221, a rise of 3 per cent over the previous week. Volatility Index India VIX ended 4 per cent lower at 18.40. The BSE Sensex rose 303 points to 54,482 points, hitting a close of 3 per cent weekly gain. Nifty Bank ended Friday’s session at 35,124 with a gain of 204 points.
According to Share Market According to experts, a minor downside candle was formed on the high on the daily chart with a slight lower shadow. Technically, this pattern indicates a continuation of the bullish trend in the market. Two back to back unfilled opening upside gaps of the last two sessions indicate a positive outlook for the market going forward.
day trading guide for stock market today
“short term trend” nifty remains positive. After staying above the crucial hurdle at 16170 level, Nifty is likely to move towards the next resistance level of 16500 level by next week. “Immediate support is placed around 16150-16100 levels,” said Nagraj Shetty, Technical Research Analyst, HDFC Securities.
Expecting banking and FMCG stocks to outperform other indices, Ruchi Jain, Lead Research, 5paisa.com said, “Among sectoral indices, banking indices have continued to outperform and FMCG stocks are set to propel the markets higher. The structure remains positive for both these zones and hence, traders should look for trading opportunities within these zones. Midcap 100 Index may approach its ‘200 DEMA’ resistance which is around 28270 and hence, stock specific opportunities can be selected there as well.”
day trading stocks
Sharing the intraday stocks for today, stock market experts – Sumeet Bagdia, Executive Director, Choice Broking; Avinash Gorakshakar, Head of Research, Profitmart Securities; Mehul Kothari, AVP – Technical Research at Anand Rathi and Rajesh Bhosale, Technical Analyst at Angel One – has a buy recommendation on 8 stocks today.
Will buy shares of Sumeet Bagdia today
1]NTPC: Buy on CMP, Target from 150 155, stop loss 139
2]Sun Pharma: Buy on CMP, Target 875 to 880, stop loss 840
Avinash Gorakshakar’s stock picks for Monday
3]TVS Motor: Buy Momentum on CMP, Target 875, stop loss 820
4]DLF: Buy on CMP, Target 368, stop loss 325
Mehul Kothari’s day trading shares buy
5]Bharat Dynamics: Buy Nearby 715, Target 735, stop loss 700
6]Tata Steel: Buy Nearby 886, target 920, stop loss 865
Will buy shares of Rajesh Bhosle today
7]Nippon Life India Asset Management or NAM-India: Buy Nearby 287.55, target 303, stop loss 278.80
8]City Union Bank or Cubs: Buy Nearby 144.85, Target 153, stop loss 140.80
Disclaimer: The views and recommendations given above are those of individual analysts or broking companies and not of Mint.