Day trading guide for stock market today: Six stocks to buy or sell on Friday — November 10

Day trading guide for stock market today: After showing upside recoveries in the last couple of sessions, Indian stock market continued with choppy movement on Thursday and closed lower on Thursday. Nifty 50 index lost 48 points and closed at 19,395 levels, BSE Sensex went down 143 points and closed at 64,832 mark whereas Bank Nifty index finished 24 points higher at 43,683 levels. In broad market, small-cap index went off 0.27 per cent while mid-cap index finished marginally higher.

"Nifty traded lacklustre throughout the session and closed with loss of 48 points at 19395 levels. Sectorially as well as broader market were mixed. Buying was seen in select midcap, Auto and Realty stocks. Nifty after the upmove last week, is in consolidation mode. It has been unable to cross the 19450-19500 levels for last 4 trading sessions. Overall we expect the ongoing recovery to continue and any dips can be used as buying opportunity," said Siddhartha Khemka, Head - Retail Research at Motilal Oswal.

Day trading guide for stock market today

On outlook for Nifty 50 today, Nagaraj Shetti, Technical Research Analyst at HDFC Securities said, "The smaller degree of higher tops and bottoms is intact on the daily chart and the recent unfilled opening upside gap around 19,250 levels could offer support for the market during present consolidation to form a higher bottom," adding, "Currently, the market is facing resistance around 19,450 to 19,500 levels and there is a possibility of some more consolidation or minor weakness in the short term, before witnessing a decisive upside breakout in the near term."

Buy or sell: Vaishali Parekh recommends three stocks to buy today — November 10

On outlook for Bank Nifty, Vaishali Parekh, Vice President - Technical Research at Prabhudas Lilladher said, "Bank Nifty witnessed a range-bound session to end on a flat note once again near 43,700 zone consolidating since the last 2-3 sessions. As said earlier, the index needs to breach above the 44,000 zone to further strengthen the trend and establish some conviction to anticipate for further rise in the coming days."

Day trading stocks for today

On intraday stocks for today, stock market experts — Sumeet Bagadia, Executive Director at Choice Broking; Ganesh Dongre, Senior Manager — Technical Research at Anand Rathi and Rajesh Sinha, Sr. Research Analyst at Bonanza Portfolio — recommended six stocks to buy or sell today.

Stocks to Watch: ESAF SFB, ICICI Bank, Zee Entertainment, Apollo Hosp, JSPL

Sumeet Bagadia's intraday stocks for today

1] Maruti Suzuki Indian Ltd: Buy at ₹10400, target ₹10800, stop loss ₹10200.

A fascinating technical landscape is presented by Maruti. As of right now, the stock is trading at ₹10400.35, the crucial ₹10200 level of support, from which the stock has experienced a substantial upswing. The fact that the stock is currently trading above both its 200 and 50 Day EMA levels suggests strength.

The Relative Strength Index (RSI) currently stands at 49, indicating a supportive environment for price gains. It's not yet in overbought territory, suggesting room for further growth. Based on the above analysis we recommend buying MARUTI at the CMP of ₹10400.35 with a stop loss of ₹10200 for the targets of ₹10800.

2] Larsen & Turbo or LT: Buy at ₹3024.85, target ₹3150, stop loss ₹2950.

LT share price is currently trading at ₹3024.85 levels. The stock has respected the support levels and hasn't closed below its strong support levels of ₹2950 which is also close to 20 Day EMA levels. LT shares can now progress even further towards all-time high levels and beyond. The strength for the stock to climb upwards is demonstrated by the RSI indicator, which is comfortably trading at 58 levels. The stock is also moving above all important moving averages. Once stock crosses the previous resistance of ₹3075 it can move towards the level of ₹3150 and above. Based on the above technical analysis we recommend buying LT at CMP of ₹3024.85 for a medium term outlook with a stop loss of ₹2950 for targets of ₹3150.

Ganesh Dongre's stock picks for today

3] Tata Power: Buy at ₹248, target ₹260, stop loss ₹242.

In the short-term trend, Tata Power share has a bullish reversal pattern, technically retrenchment could be possible till ₹260. So, holding the support level of ₹242 this stock can bounce toward the ₹260 level in the short term. Hence, the trader can go long with a stop loss of ₹242 for the target price of ₹260.

4] Bharat Forge: Buy at ₹1032, target ₹1070, stop loss ₹1010.

On the short-term chart, the stock has shown a bullish reversal pattern, so holding the support level of 1010. this stock can bounce toward the 1070 level in the short term, so the trader can go long with a stop loss of 1010 for the target price of 1070.

Rajesh Sinha's day trading stocks

5] PI Industries: Buy at ₹3645 to ₹3648, target ₹4016, stop loss ₹3385.

PI Industries share is forming a rising wedge pattern on a weekly time frame. At lower trend line the security has taken support an formed a bullish candlestick pattern confirming a short term upward movement in stock. The price is trading above the Ichimoku Cloud indicating an uptrend whereas the RSI has given a breakout of falling parallel channel on the upside supporting the price action. Hence based on the above technical setup a long position can be made in PIIND with a SL of ₹3385 for TP of ₹4016.

6] FDC: Buy at ₹385 to ₹386, target ₹420, stop loss ₹361.

FDC has given a breakout of Falling Parallel channel on a daily basis indicating an uptrend with volume supporting the breakout. The price is trading above the Ichimoku cloud indicating an uptrend. RSI has given a breakout of falling trendline supporting the price action. Hence based on above technical setup a long position can be made in FDC with a SL of ₹361 for a TP of ₹420.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decision.