Day Trading Guide for Wednesday: After positive global markets, fishing at lower levels due to cheap valuations and short covering at lower levels, the Indian stock market continues to rise for the second consecutive session. Recording the biggest intraday gain since May 17, 2022, the Nifty 50 index closed 288 points higher at 15,638, while the BSE Sensex closed 934 points higher at 52,532. The Nifty Bank index rose 506 points to close at 33,191.
According to Share Market According to experts, a long bull candle was formed on the daily chart and it seems that Nifty has confirmed a short term bottom reversal at swing low of lower level of 15183. The pair of Doji and high wave pattern formation at the lows of the past two sessions finally made a decisive reversal on Tuesday. This is a positive sign.
day trading guide for stock market today
Speaking on Day Trading Guide for Nifty today, Nagraj Shetty, Technical Research Analyst, HDFC Securities said, “Nifty is currently forming a significant overhead resistance around 15,700 to 15,800 levels (previous swing low as per the concept of change in polarity). Given the importance of this price area (evident of the formation of a long bear candle during the recent downside breakout), weakness is likely to emerge from resistance. However, any consolidation or minor weakness at resistance is likely to intensify over the next few sessions. May indicate an upside breakout of 15,800 level.”
day trading stocks
Sharing the intraday stocks for today, stock market experts – Rajesh Bhosale, Technical Analyst, Angel One; Mehul Kothari, AVP – Technical Research at Anand Rathi; 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.
Rajesh Bhosale’s intraday stock for today
1]HDFC Life: Buy Nearby 564, target 579, stop loss 554
2]ITC: Buy Nearby 270, target 281, stop loss 264
Buying in the shares of Mehul Kothari today
3]Bajaj Finance: Buy Nearby 5550, target 5800, stop loss 5400
4 ]L&T: Buy Nearby 1500, target 1600, stop loss 1450
Anuj Gupta’s stock today
5]Tata Motors: Buy on CMP, Target 420, stop loss 377
Avinash Gorakshakar’s Stock Pick for Wednesday
6]DLF: Buying Momentum on CMP, Target 340, stop loss 302.
Disclaimer: The views and recommendations given above are those of individual analysts or broking companies and not of Mint.