Day Trading Guide for Thursday: After a steady uptrend over the past few sessions, the Indian stock market on Wednesday slipped into minor weakness amid volatility and closed in negative territory. Nifty 50 lost 19 points to end at 17,213 while BSE Sensex lost 90 points to close at 57,806 level. The Nifty Bank index lost 138 points to close at 35,045. According to stock market experts, the current market pattern indicates a weak type of movement at the important overhead resistance. This may indicate the possibility of a downside correction in the market from higher levels.
day trading guide for stock market today
Speaking on Day Trading Guide for Nifty today; Nagraj Shetty, Technical Research Analyst, HDFC Securities, said, “The market appears to have held on to significant overhead resistance and lacks strength to cross the hurdle. More chances of further consolidation or a downside correction in the next 1-2 The session before again showing an upward move from the lower levels. Immediate support for NSE Nifty has been placed at 17,100 level.”
Day Trading Strategy for Nifty Bank Index; Ruchit Jain, Lead Research, 5paisa.com said, “As per our analysis, a small correction is likely until Nifty crosses its resistance of 17,300 and Bank Nifty crosses its resistance of 35,500, Which will mark Nifty. A higher low and Bank Nifty to complete its final phase of correction. Hence, traders should book some profit on long positions here and make aggressive longs if the index gives breakout above the mentioned resistances. Huh.
day trading stocks for today
Sharing Day Trading Stocks to Buy Today; Stock market experts – Sumeet Bagdia, Executive Director, Choice Broking and Avinash Gorakshakar, Head of Research, Profitmart Securities, gave buy recommendations on 4 stocks today.
Sumeet Bagadiya Day Trading Stock
1]IndusInd Bank: Buy on CMP, Target 900 more 940, stop loss 840
2]Maruti Suzuki India Limited or MSIL: Buy on CMP, Target 7500 more 7600, stop loss 7150
Buying in Avinash Gorakshakar’s day trading shares
3]Titan Company: buy around 2400, target 2470, stop loss 2370
4]ICICI Bank: buy around 736, Target 765, stop loss 721.
Disclaimer: The views and recommendations given above are those of individual analysts or broking companies and not of Mint.
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