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Day trading guide for Monday: After showing upside move in the last three sessions, Indian stock market slipped into weakness on Friday. NSE Nifty closed 68 points lower at 17,003 levels whereas BSE Sensex shed 190 points and closed at 57,124 levels. Nifty Bank dipped 334 points and closed at 34,857 mark. According to stock market experts, current market pattern indicates lower top reversal pattern and there can be some weakness in the market when it opens on Monday.
Day trading guide for Nifty today
Speaking on day trading guide for stock market today; Nagaraj Shetti, Technical Research Analyst at HDFC Securities said, "The recent pullback rally of the last three sessions seems to have completed around the strong overhead resistance of 17,150 to 17,200 levels. There is a possibility of further weakness down to 16,700 to 16,650 levels by next week. Any upside bounce on NSE Nifty from current levels could be a sell on rise opportunity."
Day trading stocks to buy today
Sharing day trading stocks for today, stock market experts — Sumeet Bagadia, Executive Director at Choice Broking; Manoj Dalmia, Founder & Director at Proficient Equities Limited and Parth Nyati, Founder at Tradingo — recommended 5 stocks to buy or sell today.
Sumeet Bagadia's day trading stocks
1] Indian Overseas Bank or IOB: Buy at CMP, target ₹23 and ₹25, stop loss ₹19.75
2] Firstsource Solutions Ltd or FSL: Buy at CMP, target ₹190 to ₹195
Manoj Dalmia's day trading stocks for today
3] Radico Khaitan Limited: Buy at ₹1180, target ₹1255, stop loss ₹1144
4] Gati: Buy around ₹196, target ₹208, stop loss ₹188
Parth Nyati's stock of the day
5] KPIT Technologies: Buy at ₹539, target ₹565, stop loss ₹525.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.
