Day trading guide for Monday: The short term uptrend of Nifty remains intact. There is a possibility of further consolidation or minor downward correction from the highs in early next week
Day trading guide for Monday: After bleeding heavily for the three successive trade sessions, bulls tried to pull Indian market. However, this wasn't enough to pare the early week's losses and finally NSE Nifty ended at 15,856 levels — around 100 points lower from the previous Friday close. BSE Sensex too lost more than 0.50 per cent and closed at 52,975 — 281 points lower from previous Friday close. However, in this period, BSE Mid-cap index lost mere 0.29 per cent while BSE small-cap index shed around 0.21 per cent in the same period.
While speaking on the day trading guide for traders when the marker opens on Monday; Nagaraj Shetti, Technical Research Analyst at HDFC Securities said, "The short term uptrend of Nifty remains intact. There is a possibility of further consolidation or minor downward correction from the highs in early next week. A sustainable move above 15,900 could open next upside towards 16,100 levels in the short term. Any weakness could find support at 15,750 levels."
On the basis of these facts and figures, stock market experts — Sumeet Bagadia, Executive Director at Choice Broking; Rohit Singre, Senior Technical Analyst at LKP Securities and Mudit Goel, Senior Research Analyst at SMC Global Securities — recommended these 5 shares to buy today.
Sumeet Bagadia's shares to buy today
1] ITC: Buy at ₹211, target ₹221, stop loss ₹208
2] SBI Life Insurance Company or SBI Life: Buy at ₹1050, target ₹1100 to ₹1120