Day Trading Guide for Today: The Indian stock market ended in positive territory last week, driven by strong global cues, positive quarterly data from companies and FIIs turning net buyers. The Nifty 50 index closed 1.28 per cent higher at 18,349 while the Nifty Bank index ended 2.13 per cent higher at 42,137. FIIs became net buyers in the last week 6,330.17 crore while DII became a net seller 2,255.91 crores.
The Indian national rupee (INR) appreciated 1.80 per cent against the US dollar to close at 80.79 on Friday last week. The IT sector rallied higher on positive cues from Nasdaq indices, while HDFC twins led the latter, followed by some positivity in heavyweight Reliance Industries Ltd or RIL.
According to Share Market According to the experts, a long bull candle was formed on the daily chart, with a huge open upside gap. Nifty has decisively closed above the key hurdle of 18,150 level and is on the verge of moving above another resistance of 18,350 level (top of 18 Jan 22). This is a positive sign and further growth can be expected in the near future.
day trading strategy for monday
Nagraj Shetty, Technical Research Analyst, HDFC Securities, while revealing intraday trading tips for the stock market today said, “Nifty formed a proper bull candle with long lower shadow on the weekly chart. Nifty decisively topped the previous top at 18,150 level. As per the weekly time frame chart. Hence, further upside is likely from here and fresh highs can be expected above 18,600 level in near term. Immediate support for NSE Nifty 18,150 level.
“Equity markets turned bullish on US inflation data, which came in below expectations. This data led to a sharp fall in bond yields and dollar index, resulting in a sharp rally in global equities. Global factors gave impetus and 5paisa “The way the charts are shaping up, it seems that our markets are headed for an all-time high soon,” said Ruchit Jain, Lead Research, .com.
On intraday strategy for Monday, Ruchit Jain of 5paisa.com said, “Heavyweights have taken the lead, while Nifty mid-cap and small-cap indices are still trading below their swing highs. Hence, among the underperformers.” Instead of anticipating a reversal, traders should look at the trend with the giants or sectors participating in this up move.”
nifty call put option data
“Nifty Weekly Expiry Option Chain witnesses that PE writers are actively adding their positions of over a million contracts at 18000PE – over a million contracts, with CE writers risking 19000CE – over a million contracts, as of 18700CE After. PCR_OI is relaxed at 18000. Above 1, there is cushion for the bulls going ahead, said Shilpa Raut, derivatives lead analyst at Prabhudas Lilladher.
bank nifty call put option data
“Bank Nifty options series on a weekly basis, reflected on PE writers taking long positions on 41500 strike, CE writers adding exposure on 42000/43000/44000 strikes – over 40 thousand contracts each, which showed limited downside and huge upside Reflects the index,” said Shilpa Raut.
day trading stocks to buy today
On today’s intraday stocks, stock market experts – Sumeet Bagadia, Executive Director, Choice Broking; Anuj Gupta, Vice President – Research, IIFL Securities and Rajesh Bhosle, Technical Analyst, Angel One – have BUY recommendations on the stock today.
sumit bagadia intraday stock for today
1]Infosys or INFY: Buy on CMP, Target 1610 more 1630, stop loss 1540
2]Reliance Industries Ltd or RIL: Buy on CMP, target since 2680 2700, stop loss 2590
Buying in Anuj Gupta’s shares today
3]ITC: Buy on CMP, Target 375 stop loss 344
4]Wipro: Buy on CMP, Target 420, stop loss 384
Will buy shares of Rajesh Bhosle today
5]PVR: Buy On 1145, target 1204 stop loss 1115
6]Manappuram Finance: Buy on CMP, Target 117, Stop Loss 104.70.
Disclaimer: The views and recommendations given above are those of individual analysts or broking companies and not of Mint.
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