Day trading guide for today: Following weak global cues on disappointing US data that renewed fears of a global recession, the Indian stock market halted its two-day rally and closed lower in Thursday’s session. The NSE Nifty ended 57 points lower at 18,107, the BSE Sensex closed 187 points lower at 60,858, while the Bank Nifty closed 129 points lower at 42,328. Metals, oil and gas sector stocks outperformed other sector stocks on hopes of China’s reopening. Broader market indices fell even less than the Nifty while the advance-to-decline ratio fell to 0.68:1.
According to stock market experts, till the Nifty closes below 18,000 mark, the upside breakout of the triangle pattern is intact. At the same time, a sustainable move above the 18,250 level is likely to spur the bulls into action. On the weekly chart, Nifty remains in a broad high-low range of 18,200 to 17,800.
Day trading guide for stock market today
Unveiling the intraday trading tips for Friday’s session, Nagraj Shetty, Technical Research Analyst, HDFC Securities said, “The market has moved into a consolidation after an uptrend and is expected to witness range movement or slight downside movement in the next 1-2 sessions.” Weakness is likely. Before showing an upward bounce from lower levels. Immediate support for NSE Nifty is placed in the 18,000 to 17,950 levels.
“negative sentiment from we, The markets started on a negative note for our markets. But the impact was limited as Asian markets did not react much and hence, nothing was seen in our market Spicy improvement,” Ruchit Jain said, lead Research on 5paisa.com.
Ruchit Jain further added that Nifty has given a breakout from a consolidation phase this week and hence, a fall towards support is now likely to generate buying interest. FIIs have covered their short positions in the last few sessions which was the major factor behind our market’s poor performance in the recent past. His ‘long short ratio’ has now increased to around 50 per cent from around 38 per cent. Therefore, the chart structure and data are no longer negative.
Click here for latest stock market news
On advice to intraday traders for the Friday session, Ruchit Jain said, “Till the time we do not see another short formation, traders should take a positive bias and look for buying opportunities on such intraday dips.” Should be looking for Momentum reading is in buy mode. smelly while still showing sideways motion for bank nifty index.”
day trading stocks to buy today
Sharing intraday stocks for today, Stock Market Experts – Sumeet Bagadia, Executive Director, Choice Broking; Anuj Gupta, Vice President – Research at IIFL Securities and Ganesh Dongre, Senior Manager – Technical Research at Anand Rathi – listed 6 stocks to buy on Friday.
Sumit Bagadia’s Stock Picks for Friday
1]InterGlobe Aviation or Indigo: Buy on CMP, Target from 2160 2200, stop loss 2080
2]Aditya Birla Capital: Buy on CMP, target from 155 158, Stop Loss 142
Anuj Gupta’s shares will be bought today
3] HDFC Bank: Buy on CMP, Target 1700, stop loss 1598
4]Shree Renuka Sugars: Buy at CMP, Target 64, stop loss 49
ganesh dongre intraday stock for today
5]Buy on Oil India Limited or OIL: 234, target 240, stop loss 228
6]Petronet LNG: Buy on 223, target 234, stop loss 214.
Disclaimer: The views and recommendations given above are those of individual analysts or broking companies and not of Mint. We advise investors to do due diligence with certified experts before making any investment decision.
Know your inner investor
Do you have guts of steel or are you a victim of insomnia regarding your investments? Let’s define your investment approach.
catch all business News, market news, breaking news events and breaking news Update on Live Mint. download mint news app To get daily market updates.