Day trading guide for Friday: 8 stocks to buy or sell today — 24th June
Day trading guide: The Nifty 50 index is placed within a broader high low range of 15,700 to 15,350 levels, believe stock market experts
PremiumDay trading guide for Friday: Despite fears of rising interest rates and recession across the globe, Indian stock market recovered from the early afternoon selloff on Thursday. Volumes on the NSE were in line with the recent average. Advance decline ratio jumped up to much above 1:1. Nifty 50 index ended 143 points higher at 15,556 whereas BSE Sensex surged 443 points and closed at 52,265 levels. Nifty Bank index shot up 289 points and closed at 33,135 levels.
According to stock market experts, current Dalal Street pattern indicates upside move in the market with high volatility. They said that after the weakness of Wednesday, the market showing upside bounce could be a positive indication and the days low of 15,367 is expected to be a small higher bottom formation as per daily chart. This needs to be confirmed with follow-through upside move in the subsequent session.
Day trading guide for stock market today
Speaking on day trading guide for Nifty today, Nagaraj Shetti, Technical Research Analyst at HDFC Securities said, "The Nifty 50 index is placed within a broader high low range of 15,700 to 15,350 levels. Having bounced up from the higher low on Thursday, there is a possibility of further upside move towards the crucial overhead resistance of 15,700 to 15,800 levels in the next 1-2 sessions, before showing another round of minor weakness from the highs."
Unveiling day trading strategy, Ruchit Jain, Lead Research at 5paisa.com said, "Given that the market breadth is positive and certain sectors and stocks are also showing signs of a pullback from their oversold territory, we may see Nifty breaking the higher barrier soon. Hence, till 15,180 is intact, short term traders should look for stock specific buying opportunities and trade with a positive bias."
Day trading stocks
Sharing intraday stocks for today, stock market experts — Sumeet Bagadia, Executive Director at Choice Broking; Mehul Kothari, AVP — Technical Research at Anand Rathi; Anuj Gupta, Vice President — Research at IIFL Securities and Avinmash Gorakshkar, Head of Research at Profitmart Securities — recommended 8 stocks to buy today.
Sumeet Bagadia's stocks for Friday
1] Indian Hotels: Buy at CMP, target ₹235, stop loss ₹215
2] Pidilite: Buy at CMP, target ₹2250, stop loss ₹2075
Mehul Kothari's intraday stocks for today
3] ITC: Buy around ₹265, target ₹272, stop loss ₹260
4] Kotak Mahindra Bank: Buy around ₹1680, target ₹1740, stop loss ₹1640
Anuj Gupta's day trading stocks to buy
5] Axis Bank: Buy at CMP, target ₹700, stop loss ₹590
6] State Bank of India or SBI: Momentum buy at CMP, target ₹490, stop loss ₹418
Avinash Gorakshkar's stock picks for Friday
7] Tata Motors: Buy at CMP, target ₹437, stop loss ₹393
8] ICICI Bank: Buy at CMP, target ₹730, stop loss ₹684.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.
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