Day Trading Guide for Wednesday: Following bull interest in the broader markets, Indian stocks on Tuesday closed higher for the sixth consecutive session. The Nifty 50 index closed 127 points north at 17,825, while the BSE Sensex closed 379 points higher at 59,842. Nifty Bank index closed 197 points higher at 39,239. Volumes on the NSE were higher than the recent average.
According to Share Market According to experts, a small positive candle was formed with a gap up opening on the daily chart. Several opening upside gaps have not been filled during the recent uptrend and this signals a continuation of an upward move in the market. Nifty is now positioned on the edge of the important overhead resistance of the Down Sloping Trend line (Down trend line attached to the important lower top) at 17,850 to 17,900 levels. This is a positive sign and suggests that the hurdle may soon move upwards.
day trading guide for stock market today
“Nifty is now placed on the edge of important resistance at 17,900 to 18,000 levels and a permanent upside above this barrier may open up next upside targets around 18,500 to 18,600 levels in near future. Immediate support near 17,650 levels. kept on.” Nagraj Shetty, Technical Research Analyst, HDFC Securities said.
Speaking on Nifty Call Put data, Shilpa Raut, Derivatives Lead Analyst at Prabhudas Lilladher said, “Nifty FUT making higher and higher levels on daily basis is a clear sign of bull run to continue for some time. For option chain expiry shows that 17800 straddles are playing the most important role with very aggressive additions on the PE side – new contracts totaling over 89 thousand contracts and CE writers holding their maximum exposure with 1.88 lakh contracts in total. “
“BANKNIFTY FUT Option series reflects over 88 thousand contracts with PE writers active at 39000PE and 39200 being the most aggressive strike – 45 thousand contracts added anew. CE writers on one million contracts each at 39500CE/ Added offensive positions at 40000CE, Shilpa Raut said, built in areas 39300/39400 with very disorganized resistance.
day trading stocks
Intraday stocks for today unveiled, Stock market expert – Anuj Gupta, Vice President – Research at IIFL Securities; Mehul Kothari, AVP – Technical Research at Anand Rathi and Vaishali Parekh, Vice President – Technical Research at Prabhudas Lilladher – recommended 6 stocks to buy today.
Today’s Intraday Stock of Anuj Gupta
1]PC Jeweler: Buy at CMP, Target 72, stop loss 57
2]ITC: Buy on CMP, Target 325, stop loss 298
Buying in the shares of Mehul Kothari today
3]Whirlpool: Buy Nearby 1790, Target 1850, stop loss 1755
4]Canara Bank: Buy Nearby 232, target 244, stop loss 225
Buying in the shares of Vaishali Parekh today
5]TVS Motor: Buy Nearby 979, target 1010, stop loss 962
6]Godrej Industries: Buy Nearby 483, target 503, stop loss 474.
Disclaimer: The views and recommendations given above are those of individual analysts or broking companies and not of Mint.
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