Day Trading Guide for Tuesday: After showing short range movement at the swing high of 17947 on Friday, NSE Nifty continued its consolidation movement on Monday and closed the day on a flat note amid limited momentum. The BSE Sensex closed above 60,000 and closed at 60,077 – 29 points higher than its previous trading session. Intraday profit booking started from one day high of 17,943 level and saw a slight increase in mid to later part from one day low. According to stock market experts, this pattern indicates the strength of the market in the last two sessions after Thursday’s rally. This market action indicates a lack of sharp selling participation in the market at new highs.
The day when the volumes on NSE were in line with the recent average; Realty, oil & gas and auto stocks were the biggest gainers, while IT, healthcare and FMCG indices were the biggest losers. BSE Mid-Cap closed unchanged and BSE Mid-Cap down 0.13 per cent.
Asian stocks were mostly up on Monday, but fears of further waves of the coronavirus outbreak clouded the region’s economic outlook, tempered the rally and resulted in some gains in the morning session.
Trade View on NSE Nifty
Speaking on intraday trading strategies; Nagraj Shetty, Technical Research Analyst, HDFC Securities said, “Short term trend of Nifty remains range bound. This consolidation movement may continue for next 1-2 sessions and may show an upside breakout of range movement. An upside breakout above 17,950 A decisive move is likely to open the next level at 18,200 in the near future. The crucial lower support for NSE Nifty is now placed at 17,650.”
day trading stocks to buy today
Intraday shares unveiled for today, Stock market expert – Sumeet Bagdia, Executive Director, Choice Broking; Rohit Singre, Senior Technical Analyst, LKP Securities; Ravi Singhal, Vice Chairman, GCL Securities and Sandeep Matta, Founder, TRADEIT Investment Advisors gave buy recommendation on 7 shares today.
Today’s Intraday Stock of Sumeet Bagadiya
1]ICICI Bank: buy speed on cmp, target ₹745 to ₹750, stop loss ₹715
2]Grasim Industries: Buy on CMP, Target ₹from 1680 ₹1700, stop loss ₹1615
Will buy shares of Rohit Singre today
3]Indiabulls Housing Finance: buy on ₹234, target ₹from 240 ₹244, stop loss below ₹230
4]Motherson Sumi: buy on ₹232, target ₹237 to ₹241, stop loss below ₹228
Ravi Singhal’s stock today
5]Trent: buy on ₹1005, target ₹1044, stop loss ₹988
Will buy shares of Sandeep Matta today
6]Mahindra & Mahindra or M&M: buy on ₹811, target ₹from 850 ₹900, stop loss ₹760
7]Shriram Transport Finance Company: buy up ₹1325, target ₹1400, stop loss ₹1250.
Disclaimer: The views and recommendations given above are those of individual analysts or broking companies and not of Mint.
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