Day Trading Guide for Thursday: After showing a sharp correction from swing lows on Tuesday, the Indian stock market saw an excellent follow-up on Wednesday and closed the day on a good note. nifty 50 The index ended 331 points higher at 16,345, while the BSE Sensex closed at 54,647, up 1223 points. Bank Nifty index closed 657 points higher at 33,815.
According to stock market experts, in the second consecutive session on the daily chart, one after the other long bull candles have been formed. Technically, this pattern indicates a sharp reversal from lows in the market. Hence, the recent low of 15,671 in NSE Nifty can now be considered as an important bottom reversal pattern.
day trading guide for stock market today
Today speaking on Day Trading Guide for Nifty; Nagraj Shetty, Technical Research Analyst, HDFC Securities said, “Short term trend of Nifty seems to be reversing. The overall positive chart pattern indicates possibility of Nifty moving towards the crucial resistance level of 16,800 in the next few sessions. Immediate support on NSE For now Nifty is at the level of 16,200 to 16,150.
Unveiling of key levels with respect to Nifty and Bank Nifty; Sumeet Bagdia, Head of Research, Choice Broking said, “The broader range of NSE Nifty today is 16,000 to 16,600 whereas for high-risk traders, a shorter range of Nifty can be considered between 16,150 to 16,450 levels. Similarly, Nifty Bank Index may have a short range today. A take on 33,000 to 34,000 can be taken while a broad range can be considered between 32,700 to 34,500 levels.”
day trading stocks to buy today
Speaking on today’s intraday stocks, stock market expert – Sumeet Bagdia of Choice Broking; Anuj Gupta, Vice President, IIFL Securities and Avinash Gorakshakar, Head Research, Profitmart Securities give buy call to 6 stocks today.
Sumeet Bagadiya Day Trading Stocks
1]Asian Paints: Buy on CMP, Target 3000 to 3100, stop loss 2750
2]Poonawalla Fincorp: Buy Momentum on CMP, Target from 255 260, stop loss 225
Today’s Intraday Stock of Anuj Gupta
3]Equitas Holdings: Buy on CMP, Target 120, stop loss 97
4]Adani Wilmar Limited or AWL: Buy on CMP, Target 380, stop loss 318
Buying in the shares of Avinash Gorakshakar today
5]State Bank Of India Or SBI: Buy On CMP, Target 468, stop loss 440
6]Tata Chemicals: Buy on CMP, Target 930, stop loss 870.
Disclaimer: The views and recommendations given above are those of individual analysts or broking companies and not of Mint.
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