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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.

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