Day Trading Guide for Wednesday: After showing gradual weakness amid a range of movements over the past four sessions, Indian stock market Amid rising tension, there was a sharp weakness in early trading on Tuesday Ukraine And new regulatory scrutiny on China’s tech sector has rattled investors’ nerves. NSE Nifty closed 114 points lower at 17,092 while BSE Sensex lost 382 points to close at 57,300 level. Bank Nifty index lost 313 points to close at 37,371 level. According to stock market experts, the current market pattern indicates a return of the bulls from the lower levels.
Day Trading Guide: What do global signals indicate
On Wall Street on Tuesday, the Dow Jones closed down 482 points at 33,596, while the Nasdaq lost 166 points to close at 13,381.
Advising intraday traders to keep an eye on global triggers; Ruchit Jain, Lead Research at 5paisa.com, said, “The escalating tensions between Russia and Ukraine have irked market participants and have resulted in increased volatility. It is the global news flow that has so far determined the market momentum. and hence one should avoid aggressive positions and trade with proper risk management.”
day trading guide for stock market today
Speaking on Intraday Trading Tips with regards to Nifty today; Nagraj Shetty, Technical Research Analyst, HDFC Securities said, “Nifty’s near-term trend remains weak. After testing the crucial support level of 16,800, a slight bounce back from the current levels can be expected in the coming session.” As per the pattern of lower levels, Nifty can expect a further decline from 17,300 high to 17,400 level in the next few sessions.
Sharing important ranges and key levels with respect to Nifty and Bank Nifty; Sumeet Bagadiya, Executive Director, Choice Broking said, “Immediate support for Nifty is placed at 17,000 while strong support for Nifty 50 is placed at 16,850. For high-risk traders, today’s short intraday range for Nifty is placed at 17,000. 17,200 while broad today’s range is 16,850 to 17,300. Similarly, today’s short intraday range for Nifty Bank is 37,300 to 37,700 while Bank Nifty’s today’s broad range is 36,800 to 38,000 levels.
day trading stocks to buy today
Sharing the intraday trading stocks for Wednesday, stock market experts — Sumeet Bagdia of Choice Broking; Anuj Gupta, Vice President, IIFL Securities and Avinash Gorakshakar, Head Research, Profitmart Securities give buy call to 6 stocks today.
Sumeet Bagadiya Day Trading Stocks
1]NALCO: Buy on CMP, Target 120 to 124, stop loss 108
2]Housing Development Finance Corp or HDFC: Buy on CMP, Target from 2550 2600, stop loss 2350
Anuj Gupta’s intraday shares will be bought today
3]Adani Wilmar Ltd or AWL: Buy Momentum on CMP, Target 360, stop loss 290
4]Hindalco Industries: Buy on CMP, Target 560, stop loss 475
Avinash Gorakshakar’s trading shares on Wednesday
5]Kotak Mahindra Bank: Buy on CMP, Target 1890, stop loss 1810
6]Mahindra & Mahindra or M&M: Buy on CMP, Target 890, stop loss 835.
Disclaimer: The views and recommendations given above are those of individual analysts or broking companies and not of Mint.
Never miss a story! Stay connected and informed with Mint.
download
Our App Now!!
,