Day trading guide for today: Indian stock markets closed flat on Tuesday as most Asian markets were closed for the Lunar New Year holiday. The NSE Nifty closed at 18,118, down 0.25 points, while the BSE Sensex closed at 60,978, up 37 points. The Bank Nifty index closed at 42,733, down 87 points. The broad market indices closed in the negative while the advance/decline ratio stood at 0.66:1.
According to market experts, a long bear candle was formed on the daily chart, which indicates the continuation of range bound movement in the market. The high-low range around the 18,200 to 18,000 level has been acting as the high-low range for the last five sessions.
Today’s day trading strategy for stock market
Speaking on intraday trading patterns, Nagaraj Shetty, Technical Research Analyst HDFC Securities said, “After upside breakout of triangle pattern at 18,100 level on Jan 18, Nifty subsequently failed to exhibit any upward momentum and subsequently shifted to sideways movement. As per the weekly chart, Nifty closed at 18,250.” Placed around the broad higher lower band. At the 17,800 level over the past month.”
HDFC Securities expert said that the short-term trend smelly This movement within 18,200 to 18,000 levels is likely to continue for next 1-2 sessions. He said Dalal Street is waiting for signals from the upcoming union. budget 2023Which is to be held on February 1 i.e. next week on Wednesday.
nifty call put option data
Speaking on Nifty Call Put Ratio, Shilpa Raut, Derivatives lead Analyst Prabhudas Lilladher said, “Nifty Monthly Expiry Option Chain shows active PE writers at 18100/18000 PE of over 2 lakh OI contracts each. Maximum CE writers participation is at 18200CE of over 2.7 lakh OI contracts, with Following is 18100CE above 2.6 and 18500CE at around 2.3 lakh OI contracts. PCR_OI at 18100 is below 1 which needs to be watched while 18200 acts as resistance on an immediate basis.”
“Bank Nifty monthly expiry option series saw positions of 42500PE writers with over 1.4 lakh OI contracts followed by 42000PE with 1.1 lakh OI contracts while the highest CE writers exposure is stable at 43000CE of around 2.2 lakh OI contracts. Bank Nifty Trading is limited in the range 42500-43000,” said Raut.
day trading stocks to buy today
Unveiling the intraday stocks for the day, stock market experts – Sumeet Bagadia, Executive Director, Choice Broking and Anuj Gupta, Vice President, IIFL Securities – recommend 4 stocks to buy today.
sumit bagadia intraday stock for today
1]Britannia Industries: Buy at CMP, target 4500, stop loss 4320
2]Maruti Suzuki India Ltd: Buy at CMP, Target from 8900 9000, stop loss 8550
Anuj Gupta’s stock rose on Wednesday
3]Delta Corp: CMP, Initiate buying momentum at Target 234 with stop loss 198
4]Dabur India: Buy at CMP, Target 585 stop loss 520.
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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