Day Trading Guide for Thursday: Indian stock markets bounced back on Wednesday following strong global cues, easing geopolitical tensions and renewed hopes of a stimulus in China. Nifty 50 made a spectacular comeback yesterday and closed at 16,975 with a gain of 312 points, while the BSE Sensex closed at 56,816 with a gain of 1039 points. The Nifty Bank index climbed 725 points to end at 35,748. According to stock market watchers, the current market pattern indicates the possibility of a decisive rally towards the 17,000 level in the coming session, which is a positive sign.
day trading guide for stock market today
Intraday trading tips for Nifty unveiled today; Nagraj Shetty, Technical Research Analyst, HDFC Securities said, “After positioning at the sidelines of the 17,000 mark, the stage is set for Nifty to see an excellent upside breakout from 17000 to 17050 levels in the near term. Steps. A decisive follow-up result is expected through the uptrend in the market. Any failure could result in minor weakness or consolidation at higher levels. Immediate support for NSE Nifty has been placed at 16830 levels.”
Asking traders to know their levels in relation to the Nifty and Bank Nifty indices; Sumeet Bagadiya, Executive Director, Choice Broking said, “Traders can keep a broad range of Nifty today between 16,600 to 17,250 while high risk traders can consider Nifty short range between 16,800 to 17,100. Similarly, today Bank Nifty can be in the range of 16,800 to 17,100. There is a wide range. 35,000 to 36,300 while the short range of the banking index has been kept between 35,300 to 36,000 levels.
day trading stocks
Sharing the intraday stocks for today’s session, stock market experts – Sumeet Bagdia of Choice Broking; Anuj Gupta, Vice President, IIFL Securities and Avinash Gorakshakar, Head of Research, Profitmart Securities, recommended 5 stocks to buy today.
Buying in day trading stocks of Sumeet Bagadiya
1]UltraTech Cement: Buy on CMP, Target from 6500 6600, stop loss 6150
2]Grasim Industries: Buy on CMP, Target from 1630 1650, stop loss 1570
Today’s Intraday Stock of Anuj Gupta
3]State Bank of India or SBI: Buy momentum on CMP, target 525, stop loss 474
4]Indian Oil Corporation Limited or IOC: Buy on CMP, Target 130, stop loss 114
Avinash Gorakshakar stock today
5]HDFC Ltd: Buy on CMP, Target 2355, stop loss 2260.
Disclaimer: The views and recommendations given above are those of individual analysts or broking companies and not of Mint.
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