Day Trading Guide for Today: The Indian stock market closed with gains on Monday after positive global sentiment. The NSE Nifty closed 85 points higher at 18,202 while the BSE Sensex rose 234 points to end at 61,185. Bank Nifty closed 428 points higher at 41,686. Broader market indices outperformed the Nifty and posted gains of 0.64 per cent and 0.69 per cent, while the forward decline ratio rose to 1.50:1.
According to Share Market According to experts, Nifty is currently trying to see a sharp bounce above the 18,150 level and closed above it on Monday. A new swing high was formed on Monday at the level of 18,255. Therefore, a sustained move above the 18,250 level could further strengthen the upward momentum for the market.
Today’s Trading Strategies for the Stock Market
On Intraday Trading Tips for Wednesday’s session, Nagraj Shetty, Technical Research Analyst, HDFC Securities said, “Short-term trend of Nifty remains positive. Markets are now showing signs of a permanent upward move into new swing highs. Next Above levels will be seen in next 1-2 weeks around 18350 level and next at 18,600 level. Immediate support for NSE Nifty is placed at 18,100 level.
nifty call put option data
Speaking on Nifty Call Put Option Ratio, Shilpa Raut, Derivatives Lead Analyst, Prabhudas Lilladher said, “Witness PE writers of Nifty weekly expiry option chain are actively adding their positions of over one lakh contracts at 18000PE – 1.7 lakh Over 50 thousand contracts were seen in 18100PE with MAX fresh additions. The exposure of CE authors is still in 19000 areas – about 2 lakh contracts, the highest new addition of 40 thousand contracts seen in 18400 strike. On 18100 PCR_OI is now above 1, shifting the base up and providing rest for the bull run to continue.”
bank nifty call put option data
“Bank Nifty options series on a weekly basis reflect the PE writers building positions of over one lakh contracts at 41500PE, CE writers adding 43000/42000 strike- exposure on more than 80 and 75 thousand contracts respectively, which Indicates a clearing up. Up to 43000 zone for the index going forward,” Shilpa Raut said.
day trading stocks to buy today
On today’s intraday stocks, stock market experts – Sumeet Bagdia, Executive Director, Choice Broking; Mehul Kothari, AVP – Technical Research at Anand Rathi and Anuj Gupta, Vice President – Research at IIFL Securities – recommended 6 stocks to buy today.
Will buy shares of Sumeet Bagdia today
1]UPL: Buy on CMP, Target 770 to 780, stop loss 730
2]M&Ms: Buy on CMP, Target 1380 and 1400, stop loss 1325
Today’s Intraday Stock of Mehul Kothari
3]Havells: Buy here 1235, target 1275, stop loss 1205
4]Birla Corporation: Buy Here 1006, target 1048, stop loss 982
Will buy shares of Anuj Gupta today
5]State Bank of India or SBI: Buy on CMP, Target 650, stop loss 594
6]Tata Steel: Buy on CMP, Target 112, stop loss 101.
Disclaimer: The views and recommendations given above are those of individual analysts or broking companies and not of Mint.
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