Day trading guide for Friday: 4 stocks to buy or sell today — 27th May
Day trading guide: Bears would gain more control once the recent intermediate low of 15,735 is broken, believe stock market experts
PremiumDay trading guide for Friday: After weak opening on Thursday session, Indian stock market bounced back strongly and closed in green zone after a gap of four sessions. Nifty 50 index surged 144 points and closed at 16,170 levels while BSE Sensex shot up 503 points and closed at 54,252 mark. Nifty Bank index ended 755 points higher at 35,094 levels. However, volumes on the F&O expiry day were the lowest in 5 monthly expiries.
According to stock market experts, Nifty has found support around 15,900 levels and it has rallied sharply from there. The 50-stock index has moved above the 20 and 50 period MA (moving average), which indicates strength for the near term.
Day trading guide for stock market today
Speaking on day trading strategy for Nifty today, Subash Gangadharan, Senior Technical and Derivative Analyst at HDFC Securities said, "While we remain open to a pullback rally in the very near term, we must remember that the intermediate trend remains down. The bears would gain more control once the recent intermediate low of 15,735 is broken. We recommend a stock specific approach and recommend buying stocks from sectors that are showing relative strength."
Day trading stocks
Sharing intraday stocks for today, stock market experts — Mehul Kothari, AVP — Technical Research at Anand Rathi and Avinash Gorakshkar, Head of Research at Profitmart Securities — recommended 4 shares to buy today.
Mehul Kothari's intraday stocks for today
1] India Cements: Buy around ₹169, target ₹177, stop loss ₹164
2] HDFC: Buy around ₹2290, target ₹2350, stop loss ₹2250
Avinash Gorakshkar's day trading stocks to buy today
3] State Bank of India or SBI: buy at CMP, target ₹495, stop loss ₹456
4] Vedanta or VEDL: Momentum buy at CMP, target ₹338, stop loss ₹301.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.
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