Day trading guide for Monday: NSE Nifty last week lost 103 points and closed at 15,763 levels while BSE Sensex lost 381 points and closed at 52,586 mark in this period
Day trading guide for Monday: Indian benchmark equity indices once again failed to hold on to intraday gains on July 30 on the back of weakness in markets elsewhere. The NSE Nifty last week lost 103 points or 0.65 per cent and closed at 15,763 levels while BSE Sensex lost 381 points last week and closed at 52,586 mark. However, mid-cap and small-cap stocks continue to attract bulls throughout last week as BSE mid-cap index ended 0.16 per cent higher while small-cap index surged 0.80 per cent in this period.
Speaking on day trading guide for Monday; Deepak Jasani, Head of Retail Research at HDFC Securities said, "Nifty has repeatedly run into resistance in the 15,862 to 15,899 band over the past 6 sessions. It closed lower for the second consecutive week, though by a small per cent. However the lower shadows (area between the lows and close) are growing over the past three weeks, suggesting sharp recovery post higher selling pressure. How long such recoveries will continue is a moot point. Nifty could remain in the 15,578 to 15,899 band in this week."
Day trading stocks to buy today
On the basis of these facts and figures, stock market experts — Sumeeet Bagadia, Executive Director at Choice Broking; Jay Thakkar, VP & Head of Equity Research at Marwadi Shares and Finance and Sandeep Matta, Founder at TRADEIT Investment Advisors — recommended 8 shares to buy today.
Sumeeet Bagadia's stocks to buy today
1] L&T Finance Holdings or L&T FH: Buy at ₹88, target ₹92 to ₹94, stop loss ₹85
2] Cadila: Buy at ₹585, target ₹600 to ₹610, stop loss ₹571