Day trading guide for Thursday: 6 stocks to buy or sell today — 17th February
2 min read 17 Feb 2022, 06:43 AM ISTDay 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
-kiyD--621x414@LiveMint_1645060001591.JPG "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)")
PremiumDay 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.
