Day trading guide for Wednesday: Indian stock market shifted into a consolidation movement on Tuesday post-sharp weakness of Monday. Nifty 50 went off 43 points and closed at 17,324 levels whereas BSE Sensex shed 166 points and closed at 58,117 levels. Nifty Bank lost 31 points and closed at 36,893 mark. According to stock market experts, such trade pattern after a reasonable weakness alerts for trend reversal. However, they maintained that confirmation is required for the reversal pattern.
On a day when the volume son the NSE were in line with recent averages; power, oil & gas and capital goods indices rose the most while telecom, FMCG and auto indices fell the most. BSE Small-cap index ended flat while Mid-cap index was down 0.37 per cent.
Day trading guide for Nifty today
On intraday trading tips for stock market today; Nagaraj Shetti, Technical Research Analyst at HDFC Securities said, "The Indian stock market showing consolidation movement on Tuesday, post-bearish pattern of Monday could signal chances of sustainable upside bounce back in the coming sessions. The important resistance to be watched on NSE Nifty is around 17,500 and next 17,650 levels. Immediate support for NSE Nifty is placed at 17,200 levels."
Day trading stocks to buy today
Sharing day trading stocks for today’s trade session, stock market experts — Sumeet Bagadia, Executive Director at Choice Broking; Ravi Singhal, Vice Chairman at GCL Securities, Ravi Singh, Head of Research & Vice President at ShareIndia, Manoj Dalmia, Founder & Director at Proficient Equities Limited and Parth Nyati, Founder at Tradingo — recommended 8 stocks to buy today.
Sumeet Bagadia’s day trading stocks
1] Hindustan Unilever Ltd or HUL: Momentum buy at CMP, target ₹2400 to ₹2450, stop loss ₹2270
2] Torrent Power: Buy at CMP, target ₹600 to ₹610, stop loss ₹565
Ravi Singhal’s stock of the day
3] Narayana Hrudayalaya: Buy around ₹600, target ₹640, stop loss ₹580 Ravi Singh’s day trading stocks for today 4] Berger Paints: Buy at ₹755, target ₹770, stop loss ₹750 5] State Bank of India or SBI: Buy at ₹488, target ₹498, stop loss ₹484 Manoj Dalmia’s stock picks for today 6] Subros: Buy at ₹398, target ₹444, stop loss ₹381 Parth Nyati’ stocks to buy today 7] Orient Electric: Buy at ₹389.7, target ₹405, stop loss ₹383 8] KNR Constructions: Buy at ₹293, target ₹305, stop loss ₹287. Disclaimer: The […]
