Day trading guide for today: Even as Asian shares climbed to seven-month highs, the Indian stock market crashed on Wednesday after short seller Hindenburg raised concerns over Adani Group’s debt position. The NSE Nifty closed at 17,891, down 226 points, while the BSE Sensex closed at 60,205, down 773 points. The Bank Nifty index fell 1,085 points to close at 41,647. The small-cap index fell less than the 50-stock Nifty, though the advance-decline ratio fell to 0.34:1.
According to stock market experts, the recent upside breakout of the triangle pattern has been negated smelly The lower end of the triangle reached the level of 17,800 on Wednesday. This is not a good sign, as the weakness is likely to intensify further below 17,750 levels.
Share Market Today: Day Trading Strategy For Friday
Pivot Levels Unveiled for Nifty Today, Nagraj Shetty, Technical Research Analyst HDFC Securities said, “Nifty’s short term trend has turned negative. Placed on key support, minor pullback rally is expected in short term. But, overall chart pattern indicates high probability of decisive decline towards 17,750 levels.” Near term. Such anticipated market action is likely to lead to further weakness in the market.
Nagaraj Shetty of HDFC Securities said that Nifty is currently placed on the important support of previous swing lows of 17,780 to 17,800 levels.
day trading stocks to buy today
Unveiling the intraday stocks for today, stock market experts – Sumeet Bagadia, Executive Director, Choice Broking and Anuj Gupta, Vice President – Research at IIFL Securities – Recommended 4 stocks to buy today.
Sumit Bagadia’s shares will be bought today
1]Hero MotoCorp: Buy on CMP, Target 2850 and 2900, stop loss 2725
2]Bharti Airtel: Buy on CMP, Target since 790 800, stop loss 760
Anuj Gupta intraday stock today
3] Bye Steel: Buy on CMP, Target 130, stop loss 114
4]ONGC: Initiate Momentum Buying on CMP, Target 163, Stop Loss 147.
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.
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