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Day trading guide for Thursday: After showing weakness from all time highs on Tuesday, Indian stock market witnessed follow-through declines on Wednesday trade session. NSE Nifty dipped 152 points and closed at 18,266 levels whereas BSE Sensex shed 456 points and closed at 61,259 levels. Bank Nifty index went off 22 points and closed at 39,518 mark. According to experts, current trend indicates sharp reversal in the market. The recent swing high of 18,604 could now be considered as a short term top formation for the NSE Nifty.

On a day when the volumes on the NSE were high (but lower than that on the past two days); telecom was the only sectoral index that ended in the green while metals, consumer durable, capital goods, power and realty indices fell the most.

Trade view on NSE Nifty

Unveiling intraday trading tips for Thursday markets; Nagaraj Shetti, Technical Research Analyst at HDFC Securities said, "The short term trend of Nifty continues to be negative and there is a possibility of some more weakness in the next 1-2 sessions before showing any convincing upside bounce from the lows. Important lower support for NSE Nifty is placed around 18,150 to 18,100 levels."

Day trading stocks to buy today

Sharing intraday stocks for today, stock market experts — Sumeet Bagadia, Executive Director at Choice Broking; Ravi Singhal, Vice Chairman at GCL Securities; Dr Ravi Singh, Head of Research & Vice President at Share India and Manoj Dalmia, Director & Founder at Proficient Equities Private Limited — recommended 8 shares to buy today.

Sumit Bagadia's intraday stocks for today

1] Bharti Airtel: Buy at CMP, target 740 to 750, stop loss 680

2] Federal Bank: Momentum buy at CMP, target 98 to 100, stop loss 89

Ravi Singhal's stock of the day

3] Dr. Lal Path Labs: Sell at 3540, target 3422, stop loss 3570

Ravi Singh's shares to buy or sell today

4] Bharat Heavy Electricals Limited or BHEL: Buy at 72.50, target 76, stop loss 71

5] Canara Bank: Buy at 194, target 199, stop loss 192

6] Berger Paints India: Sell at 802, target 785, stop loss 806

Manoj Dalmia's stock pick for Thursday

7] Transport Corporation of India or TCI: Buy at 551, target 613, stop loss 524.

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

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