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Day trading guide for Thursday: After showing upside move with high volatility on Tuesday, Indian stock market showed a sustainable follow-through upside move on Wednesday. NSE Nifty gained 184 points and closed at 16,955 levels whereas BSE Sensex surged 611 points and closed at 56,930 levels. Nifty Bank shot up 421 points and regained 35,000 levels after making a close at 35,029. According to stock market experts, current market pattern indicate a continuation of pullback rally in the market post sharp decline.
Day trading guide for Nifty today
Unveiling day trading strategy for stock market today; Nagaraj Shetti, Technical Research Analyst at HDFC Securities said, "The pullback rally continued in the market and the Nifty is now entering a crucial overhead resistance of around 17,000 to 17,200 levels. There are higher chances that Nifty could reverse down from near this area in the next few sessions. Immediate support for NSE Nifty is placed at 16,830 levels."
Day trading stocks
Sharing day trading stocks to buy today, stock market experts — Sumeet Bagadia, Executive Director at Choice Broking; Ravi Singhal, Vice Chairman at GCL Securities and Mudit Goel, Senior Research Analyst at SMC Global Securities — recommended 6 stocks to buy or sell today.
Sumeet Bagadia's day trading stocks to buy today
1] National Aluminium Company or NALCO: Buy at CMP, target ₹106 to ₹110, stop loss ₹99
2] Manappuram Finance: Buy at CMP, target ₹168 to ₹170, stop loss ₹157
Ravi Singhal's day trading stocks for today
3] Housing Development Finance Corp or HDFC: Sell at ₹2540 or above, target ₹2500 to ₹2470, stop loss ₹2566
4] HDFC Bank: Sell at ₹1444 or above, target ₹1400, stop loss ₹1466
Mudit Goel's day trading stocks for Thursday
5] Aurobindo Pharma: Buy at CMP, target ₹735, stop loss ₹708
6] Crompton Greaves: Buy at CMP, target ₹429, stop loss ₹409.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.
