Day trading guide for today: Dalal Street snapped two days of losses on Tuesday, following strong global cues and a weak WPI number in India. The Nifty 50 index closed at 17,929, up 158 points, while the BSE Sensex closed at 61,032, up 600 points. The Bank Nifty index climbed 366 points to close at 41,648. The broad market index also closed lower than the Nifty, while the advance/decline ratio was lower at 0.52:1. The muted corporate results of a large number of mid and small-cap stocks seem to be the reason for the lack of interest in them.
According to stock market experts, on Tuesday, a long bull candle was formed on the daily chart with a gap up opening. Technically, this market action indicates a big upside move in Nifty after formation of a lower low at 17,719 level on Monday. Nifty is now placed on the hurdle of an ascending trend line around 17950-18000 levels. Hence, a decisive upside above 18,000 is likely open A bullish follow-through towards the 18,250 level in the near term.
Day trading guide for stock market today
Nagraj Shetty, Technical Research Analyst speaking on Nifty outlook today HDFC Securities said, “The short-term trend of Nifty seems to be up. Placed at the important downtrend line resistance around 18,000 mark, there is a possibility of minor consolidation in the coming sessions before showing any decisive upside breakout. Immediate for Support. Nifty is placed at 17,750 level.”
Ruchit Jain on Nifty Bank Index, lead Research at 5paisa.com said, “Bank Nifty index has also consolidated in a range over the past few sessions, with 41700-41800 range acting as resistance. A breakout above this zone in Bank Nifty index There could be a lot more positive momentum in stocks in this sector.”
Ruchit Jain of 5paisa.com further said that the global markets are looking positive and since FII positions are under-heavy, short covering by them could be a major trigger for an upside move after the breakout. “Traders should look for buying opportunities and trade with a positive bias,” he concluded.
nifty call put option data
On Nifty Call Put Ratio, Shilpa Raut, Derivatives Lead Analyst at Prabhudas Lilladher said, “Nifty Weekly Expiry Option Chain still shows maximum PE writers positions at 17800PE of over 1.93 lakh OI contracts followed by 1.34 lakh OI contracts.” of 17900PE. CE writers position lies. Over 1.44 lakh OI contracts at 18200CE and 1.37 lakh OI contracts at 18000CE. Aggressive put additions and call unwinding seen at 17800/17900 strikes, PCR_OI at 17800 is now 2.44 which index There is a comfortable area for.
bank nifty call put option data
“Bank Nifty Weekly Expiry Options Series witnesses participation from PE writers of 1.16 Lakh OI contracts at 41500PE and 1.02 Lakh OI contracts at 41000PE. CE writers positions of 1.09 Lakh OI contracts at 42000CE and over 85 thousand OI contracts at 43000PE respectively is on strike,” Raut said.
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 Securities and Ganesh Dongre, Senior Manager – Technical Research Anand Rathi – Recommends four stocks to buy today.
sumit bagadia intraday stock for today
1]Reliance Industries Limited or RIL: .uy, target on cmp 2425 and 2450, stop loss 2325
2]ICICI Bank: Buy on CMP, Target since 880 890 stop loss 851
Ganesh Dongre’s stock is up on Wednesday
3]State Bank of India or SBI: buy at 540, target 558 stop loss 528
4]Canara Bank: buy on 290, target 305 stop loss 283
Anuj Gupta’s earning today
5]Vedanta: Buy on CMP, Target 330 stop loss 304.
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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