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Day trading guide for Thursday: 6 stocks to buy or sell today — 17th February

Day trading guide for stock market today: Small range of Nifty today is 17,200 to 17,400 whereas broader range of Nifty 50 index is 17,100 to 17,500, say experts. (MINT)Premium
Day trading guide for stock market today: Small range of Nifty today is 17,200 to 17,400 whereas broader range of Nifty 50 index is 17,100 to 17,500, say experts. (MINT)

  • Day trading guide for Thursday: Small range for SGX Nifty today is 17,180 to 17,650. Bullish or bearish trend can be confirmed on breakage of either side of this small intraday range, say experts

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Day trading guide for Thursday: After showing sharp upside move on Tuesday, Indian stock market shifted into volatility at the highs on Wednesday and ended in red territory. BSE Sensex shed 145 points and ended at 57,996 whereas NSE Nifty went off 30 points and closed at 17,322 levels. Nifty Bank index ended 216 points lower at 37,953 levels.

At Wall Street, Dow Jones Futures and Nasdaq too ended lower after a volatile session on Wednesday.

Day trading guide for Thursday: What global cues signal?

Expecting flat opening with positive bias at Indian stock market today; Anuj Gupta, Vice President at IIFL Securities said, "Dow Jones Futures on Wednesday ended in red zone whereas SGX Nifty today is in green zone. This signals that Indian secondary market may open flat with positive bias but one should keep an eye on SGX Nifty Live index for further cues."

Advising stock market traders to keep an eye on SGX Nifty live index, Anuj Gupta of IIFL Securities said, "Small range for SGX Nifty today is 17,180 to 17,650. Bullish or bearish trend can be confirmed on breakage of either side of this small intraday range of SGX Nifty today. However, broader range of SGX Nifty today is 16,800 to 17,900 levels."

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 short term uptrend status of Nifty remains intact and further upside move above 17,490 is expected to pull Nifty towards immediate resistance of 17,650 levels. Inability of bulls to sustain the highs could result in another round of downward correction in the market. Immediate support for NSE Nifty is placed at 17200 levels."

Sharing short and broad range of Nifty and Bank Nifty index; Sumeet Bagadia, Executive Director at Choice Broking said, "Small range of Nifty today is 17,200 to 17,400 whereas broader range of Nifty 50 index is 17,100 to 17,500. Likewise, small range of Bank Nifty is 37,700 to 38,300 while broader range of Nifty Bank index is 37,500 to 38,500 levels."

Day trading stocks

On day trading stocks to buy today; stock market experts — Sumeet Bagadia of Choice Broking; Anuj Gupta of IIFL Securities and Avinash Gorakshkar, Head of Research at Profitmart Securities — recommended 6 stocks to buy today.

Sumeet Bagadia's day trading stocks for today

1] Housing Development Finance Corporation or HDFC: Buy at CMP, target 2500, stop loss 2290

2] Lupin: Momentum buy at CMP, target 800 to 820, stop loss 750

Anuj Gupta's day trading stocks for Thursday

3] GAIL: Buy at CMP, target 154, stop loss 129

4] ICICI Bank: Buy at CMP, target 800, stop loss 744

Avinash Gorakshkar's stocks to buy today

5] Kotak Mahindra Bank: Buy at CMP, target 1890, stop loss 1800

6] IOC: Buy at CMP, target 130, stop loss 117.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.

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