Day trading guide for Thursday: 6 stocks to buy or sell today — 12th August
Premium- Trade view on Nifty: Nifty is currently placed at the support of 16,150 levels and could possibly make another upside attempt towards 16,350 in the next session, say experts
Day trading guide for Thursday: Indian benchmark indices had another roller-coaster day on Wednesday even as the indices recovered from the morning lows to end almost flat. NSE Nifty ended 2 points higher at 16,282 while BSE Sensex shed 28 points and closed at 54,525 levels. On a day when volumes were in line with recent averages, metals, oil & gas and power stocks gained the most, while healthcare and banking stock fell the most. Foreign Institutional Investors (FIIs) ended up adding ₹238 crore in their portfolio while Domestic Institutional Investors (DIIs) added ₹206 crore in the Indian markets on Wednesday.
Global shares hit record highs on Wednesday after data showed US consumer price increases slowed in July, easing concerns that the Federal Reserve will imminently signal a scaling back of bond purchases. At Wall Street, Dow Jones closed 0.62 per cent higher while Nasdaq shed 0.16 per cent on Wednesday.
Trade view on Nifty
Speaking on day trading guide for Thursday; Nagaraj Shetti, Technical Research Analyst at HDFC Securities said, "The short term trend of Nifty continues to be range bound with volatile movement and similar market action is expected to continue for the next session. Nifty is currently placed at the support of 16,150 levels and could possibly make another upside attempt towards 16,350 in the next session. Immediate support is placed at 16,180 levels."
Day trading stocks to buy today
Unveiling day trading strategies for Thursday, 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 6 shares to buy today.
Sumeet Bagadia's stocks to buy today
1] Pidilite Industries: Buy at CMP, target ₹2310 to ₹2340, stop loss ₹2210
2] Tata Steel: Momentum buy at CMP, target ₹1470 to ₹1500, stop loss ₹1370
Mudit Goel's day trading stock
3] Vedanta: Buy at CMP, target ₹333, stop loss ₹318
Sandeep Matta's shares to buy today
4] Prakash Industries: Buy at ₹73, target ₹79 to ₹82, stop loss ₹65
5] MSTC: Buy at ₹260, target ₹275 to ₹283, stop loss ₹245
6] Star Paper: Buy at ₹154, target ₹165 to ₹173, stop loss ₹138.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.
