Day trading guide for Monday: In the last week's trade session, NSE Nifty registered 3 per cent rise due to the gains in the early part of the week
Day trading guide for Monday: Indian benchmark indices fell on Friday i.e. 6th August 2021 breaking four days rally even after the RBI kept the repo rates steady at its MPC meet and maintained an accommodative stance. On a day when the volumes were lower than recent averages, power and telecom stocks did well while energy and realty stocks fell. However, over the week, NSE Nifty was up 3 per cent due to the gains in the early part of the week. But, Nifty mid-cap 100 rose 0.49 per cent while Nifty small-cap 100 index fell 0.78 per cent over the week, reflecting the pressure on the broader markets.
Asian stocks also lost ground on Friday as the spread of the Delta variant of the Coronavirus across the region heightened worries about its economic recovery. European stocks too struggled for direction on the weekend trade session, with nervousness over the spread of the COVID-19 Delta variant Coronavirus and uncertainty about government policy in China keeping underlying sentiment cautious.
Speaking on day trading guide for Monday; Deepak Jasani, Head of Retail Research at HDFC Securities said, "15,962 to 16,146 could be the support band for the Nifty in the coming week while 16,337 to 16,349 could act as a resistance."
Day trading stocks to buy today
On the basis of these facts and figures, stock market experts — Sumeet Bagadia, Executive Director at Choice Broking; Mudit Goel, Senior Research Analyst at SMC global Securities and Sandeep Matta, Founder at TRADEIT Investment Advisors — recommended these shares to buy today.
Sumeet Bagadia's stocks to buy today
1] Punjab National Bank or PNB: Buy at ₹39.50, target ₹44 to ₹45, stop loss ₹38