Day Trading Guide for Wednesday: After weakness in early morning deals in European markets, Indian stocks lost early gains on Tuesday and closed in negative territory. The NSE Nifty 500 index closed 24 points lower at 15,810, while the BSE Sensex lost 100 points to end at 53,234. Nifty Bank index lost 125 points and closed at 33,815 level of the day.
According to Share Market According to experts, the Nifty 50 index gave a breakout from the range with a gap in Tuesday’s session, but the momentum faded after hitting the 16,000 mark and Nifty corrected to close the intraday gap. He said that a proper downside candle was formed with a long upper shadow on the daily chart. Technically, this pattern indicates a false upside breakout of the upper boundary along with strong resistance at the 15,950 levels (high low range from 15,700 to 15,900 levels).
day trading guide for stock market today
Speaking on Day Trading Guide for nifty todayNagraj Shetty, Technical Research Analyst, HDFC Securities, said, “The short term trend of Nifty seems to have reversed from the highs and the current chart pattern shows the possibility of further weakness in the short term. A downside bias can be expected in the Nifty in the short term. Again from 15,600 to 15,500 level.”
day trading stocks
Sharing the intraday stocks for today, stock market experts – Sumeet Bagdia, Executive Director, Choice Broking; Anuj Gupta, Vice President – Research at IIFL Securities and Avinash Gorakshakar, Head of Research at Profitmart Securities – made 6 buy recommendations on the stock today.
Today’s intraday stock of Sumeet Bagadiya
1]Havells India: Buying Momentum on CMP, Target from 1200 1225, stop loss 1120
2]Polycab India: Buy on CMP, Target 2250, stop loss 2125
Anuj Gupta’s day trading shares buy
3]Tata Motors: Buy on CMP, Target 460, stop loss 380
4]LIC: Buy on CMP, Target 760, stop loss 670
Buying in the shares of Avinash Gorakshakar today
5]Mahindra & Mahindra Finance: Buy on CMP, Target 197, stop loss 176
6]Sell: Buy on CMP, Target 78, stop loss 66.
Disclaimer: The views and recommendations given above are those of individual analysts or broking companies and not of Mint.