Day Trading Stocks: The Indian stock market closed in positive territory for the third straight session on Wednesday following strong global cues after Fed chief Jerome Powell indicated a less aggressive stance on interest rate hikes. The Nifty 50 index closed 150 points higher at 17,871, the BSE Sensex closed 377 points higher at 60,663 while the Nifty Bank index closed 46 points higher at 41,537. 7 out of 10 stocks of Adani Group closed with positive correction. In the broader markets, the mid-cap index gained one per cent and outperformed major benchmark indices, while the small-cap index gained 0.76 per cent.
According to stock market experts, smelly The day started on a marginally positive note but it saw buying interest from the opening tick itself led by IT sector giants. The 50-stock index traded with a positive bias throughout the day and closed above 17,850, up 0.85 per cent. India VIX has now cooled below 14, indicating that the market has discounted all recent news flows.
Stock Market Today: Day Trading Guide for Thursday
Speaking on intraday trading tips for Nifty today, Ruchit Jain, Lead Research, 5paisa.com said, “Nifty is trading in a channel and it has recovered from the lower end of the channel since Budget day, and now its moving towards. Higher end around 17,950 to 18,000. Market breadth has been positive indicating buying interest in broader markets. The only worrying factor is selling by FIIs as they had only 15 per cent positions long and 85 per cent On the short side. But, these positions also appear to be short heavy and if they start covering their short positions, it could give a decent rally in the indices in the near term.
Ruchit Jain advises traders to trade with a positive bias, “Traders are advised to continue trading with a positive bias and look for buying opportunities on intraday dips. Support for this is placed in the range of 17,800 to 17,770 and one can look to buy on any dips towards this range. On the flipside, 17950-18000 is seen as an immediate hurdle, above which the index may head towards 18,200 levels. movement can continue.
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Subhash Gangadharan, Senior Technical & Derivatives Analyst, HDFC Securities said, “Nifty has broken the recent high of 17,811 and is now in a short-term uptrend, the index needs to cross the next resistance of 17,972 to continue the uptrend. Otherwise, we will be back in the trading range.” On the daily chart, we see that Nifty has made a great comeback after taking support near the 200-day EMA. The index was finding resistance near the 20-day SMA, but is now on the verge of an uptrend. “
nifty call put option data
Shilpa Raut on Nifty Call Put Ratio, Derivatives lead Analyst at Prabhudas Lilladher said, “Nifty Weekly Expiry Options Series shows fresh additions at 17800PE of over 1.89 Lakh OI contracts and 17700PE of 1.84 Lakh OI contracts. Maximum participation by CE writers at 18000CE of over 2.34 Lakh OI contracts and Thereafter at 18100CE of 1.8 lacs. OI contracts. Aggressive call unwinding and put addition strikes at 17800 and below, PCR_OI at 17800 is 2.9 which supports on immediate basis.
bank nifty call put option data
“Bank Nifty weekly expiry options series witnessed PE writers position of over 1.38 lakh OI contracts at 40000PE and over 1.35 lakh and 1.27 lakh OI contracts at 41500PE/41000PE. CE writers participation of over 1.84 lakh OI contracts at 43000CE and lies at 42000CE. Over 1.68 lakh OI contracts,” said Shilpa Raut.
day trading stocks to buy today
Unveiling the intraday stocks for today, stock market experts – Sumeet Bagadia, Executive Director, Choice Broking; Anuj Gupta, Vice President – Research at IIFL SecuritiesGanesh Dongre, Senior Manager – Technical Research Anand Rathi And Rajesh Bhosale, technical analyst at Angel One, has a buy recommendation on the stock today.
Sumit Bagadia’s share picks for the day
1]Cipla: Buy on CMP, Target 1060 and 1070 stop loss 1020
2]UPL: Buy on CMP, Target since 740 750, stop loss 700
Anuj Gupta’s earning today
3]AU Small Finance Bank: Buy at CMP, target 680 stop loss 622
ganesh dongre intraday stock for today
4]Stata Bank of India or SBI: buy at 550, target 575 stop loss 534
5]Asian Paints : Buy at 2768, target 2840, stop loss 2720
Rajesh Bhosle’s shares will be bought today
6]Titan : Buy on 2466, target 2520, stop loss 2430
7]Cummins India : Buy 1474, target 1520 stop loss 1444.
Disclaimer: The views and recommendations given above are those of individual analysts or broking companies and not of Mint. We advise investors to check with certified experts before taking any Investment Decision.
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