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Day trading guide for Thursday: After witnessing a sharp weakness on Monday, the Nifty showed a sustainable upside bounce on Tuesday amidst a high volatility and closed the day with decent gains. The NSE Nifty closed 128 points higher at 17,277 levels whereas BSE Sensex gained 366 points and closed at 57,858 levels. Bank Nifty index shot up 759 points and closed at 37,706 levels. According to current market pattern indicate a type of 'counter attack bulls' type pattern at the lows. Hence, a further follow-through upside move from current levels could open a sizable upside bounce in the market ahead.
Day trading guide for stock market today
Speaking on day trading guide for Nifty today; Nagaraj Shetti, Technical Research Analyst at HDFC Securities said, "The sharp down trend in the market seems to have halted at the important support and the market is now ready to show upside bounce. A confirmation of bottom reversal as per Tuesday's low is likely to pull Nifty towards the upper 17,800 levels in the near term. On any dips, Nifty could find support at around 17,100 levels."
Day trading stocks
Sharing day trading stocks to buy today; stock market experts — Sumeet Bagadia, Executive Director at Choice Broking and Anuj Gupta, Vice President at IIFL Securities — recommended 4 stocks to buy today.
Sumeet Bagadia's day trading stocks for today
1] Infosys or INFY: Buy at CMP, target ₹1801, stop loss ₹1691
2] Hero Motocorp: Momentum buy at CMP, target ₹2875 and ₹3000, stop loss ₹2675
Anuj Gupta's day trading stocks for Thursday
3] Equitas Holdings: Buy at ₹104, target ₹115, stop loss ₹97
4] Hindalco Industries: Buy at ₹480, target ₹510, stop loss ₹459.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.
