Day Trading Guide for Wednesday: After witnessing a smart upside bounce from the lows on Monday, the momentum of the uptrend continued with range bound action in the Indian stock market on Tuesday. Nifty 50 closed 147 points higher at 17,233 level while BSE Sensex closed 477 points higher at 57,897 level. Nifty Bank index closed 125 points higher at 35,183 level. According to stock market experts, the current pattern of the market indicates the continuation of the bullish trend.
day trading guide for stock market today
Speaking on Day Trading Guide for Nifty today; Nagraj Shetty, Technical Research Analyst, HDFC Securities, said, “The market continues to strengthen and the overall chart pattern indicates that Nifty may breach the next important resistance of 17,350 in the near term. Hence, any fall from higher levels makes NSE Nifty a buy point. Should be seen as opportunity. NSE Nifty is placed with immediate support at 17,120 level.”
Day Trading Strategy Unveiled for Nifty Bank Index; Ruchit Jain, Lead Research, 5paisa.com said, “Bank Nifty index has underperformed the benchmark so far, but it is hovering around its crucial resistance of 35,500. If the index gives a breakout above this resistance, we will Can see. A tempting move in banking stocks to cover the poor performance.”
day trading stocks for today
To buy or sell today, stock market experts – Sumeet Bagadia, Executive Director, Choice Broking and Avinash Gorakshakar, Head of Research, Profitmart Securities, recommended 3 stocks to buy on Wednesday.
Sumeet Bagadiya Day Trading Stocks
1]Sun Pharma: Buy on CMP, Target from 840 8850, stop loss 790
2]Cummins India Limited or CumminsIND: Buy on CMP, Target 960 more 980, stop loss 920
Avinash Gorakshakar’s Wednesday Day Trading Stock
3]Asian Paints: buy around 3368, target 3425, stop loss 3340.
Disclaimer: The views and recommendations given above are those of individual analysts or broking companies and not of Mint.
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