Day Trading Guide for Wednesday: The Indian stock market closed in the positive zone on Tuesday. The NSE Nifty closed 46 points higher at 17,991 while the BSE Sensex closed at 60,284, up 148 points. Bank Nifty index closed 227 points higher at 38,521 level. The day when the volumes on NSE were in line with the recent average; Consumer durables, metals and FMCG indices were the biggest gainers, while IT and telecom indices were the biggest losers. The BSE Midcap index closed up 0.65 per cent and the Smallcap index rose 0.26 per cent.
trade view on nifty
According to stock market experts, although the NSE Nifty index has corrected from Monday’s high, it bounced back on Tuesday and managed to close on a strong note above the 20 DMA (Days Moving Average). This indicates that the short term uptrend is set to continue.
Speaking on intraday trading strategy; Subhash Gangadharan, Senior Technical and Derivatives Analyst, HDFC Securities, said, “There is a possibility of further upside on NSE Nifty once the immediate resistance of 18,009 is removed. Next up target for Nifty is at 18,100. NSE for weakness. There is immediate support for Nifty at 17,958 levels.”
day trading stocks for today
Sharing the intraday stocks for today, stock market experts – Sumeet Bagdia, Executive Director, Choice Broking; Mudit Goyal, Senior Research Analyst at SMC Global Securities; Ravi Singhal, Vice Chairman, GCL Securities; Dr. Ravi Singh, Head of Research and Vice President, Share India; Sandeep Matta, Founder of TRADEIT Investment Advisors and Manoj Dalmiya, Director and Founder, Proficient Equities Pvt Ltd – recommended 9 intraday stocks for today.
Today’s Intraday Stock of Sumeet Bagadiya
1]Hindustan Petroleum Corporation Limited or HPCL: Buy on CMP, Target ₹from 338 ₹345, stop loss ₹318
2]Hindustan Unilever Limited or HUL: buy speed on cmp, target ₹from 2750 ₹2820, stop loss ₹2600
mudit goyal stock today
3]Tata Consumer Products: Buy on CMP, Target ₹834, stop loss ₹805
Will buy shares of Ravi Singh today
4]Ambuja Cements: buy around ₹405, Target ₹414, stop loss ₹401
5]Exide Industries: buy on ₹187, target ₹195, stop loss ₹184
Will buy shares of Sandeep Matta today
6]3M India: buy up ₹26000, target ₹28500, stop loss ₹24000
7]NMDC: buy on ₹152, target ₹164, stop loss ₹141
Ravi Singhal Day Trading Stock
8]United Breweries Limited or UBL: buy on ₹1717, Target ₹1766, stop loss ₹1701
Manoj Dalmiya Intraday Stock for Wednesday
9]Indian Bank: buy on ₹160.50, Target ₹175, stop loss ₹155.50.
Disclaimer: The views and recommendations given above are those of individual analysts or broking companies and not of Mint.
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