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Business News/ Markets / Stock Markets/  Day trading guide for Thursday: 7 stocks to buy or sell today — 23rd June
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Day trading guide for Thursday: 7 stocks to buy or sell today — 23rd June

Day trading guide for Thursday: The market showing immediate reversal of upside bounce is not a good sign for the bulls to sustain the highs, believe stock market experts

Day trading guide for Thursday: Immediate resistance for NSE Nifty is now placed at 15,560 levels, say experts. (iStock)Premium
Day trading guide for Thursday: Immediate resistance for NSE Nifty is now placed at 15,560 levels, say experts. (iStock)

Day trading guide for Thursday: After showing a fine upside bounce on Tuesday, Indian stock market witnessed immediate turn down in the subsequent session and closed in negative territory. Nifty 50 index lost 225 points and closed at 15,413 levels whereas BSE Senses ended 709 points lower at 51,822 mark. Nifty Bank index dipped 346 points and closed at 32,845 levels.

According to stock market experts, reasonable negative candle was formed as per daily chart, which signal a possibility of bull trap in the market. After a sustainable upside bounce on Tuesday, Nifty showing immediate reaction on the downside in the subsequent session indicate a lack of strength in the market to sustain the upside bounces.

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 market showing immediate reversal of upside bounce is not a good sign for the bulls to sustain the highs. Now, one may expect Nifty to slide down to the important support area of 15,200 levels in the next few sessions. Immediate resistance for NSE Nifty is now placed at 15,560 levels."

Day trading stocks

Sharing intraday stocks for today, stock market experts — Sumeet Bagadia, Executive Director at Choice Broking; Rajesh Bhosale, Technical Analyst at Angel One; Mehul Kothari, AVP — Technical Research at Anand Rathi and Avinash Gorakshkar, Head of Research at Profitmart Securities — recommended 8 stocks to buy or sell today.

Sumeet Bagadia's intraday stocks

1] Hindustan Petroleum Corporation Limited or HPCL: Momentum buy at CMP, target 235, stop loss 214

2] Gujarat Gas: Sell at CMP, target 395 to 390, stop loss 421

Rajesh Bhosale's stock picks for Thursday

3] Bharat Petroleum Corp Ltd or BPCL: Buy around 306, target 324, stop loss 296

4] Trent: Sell around 1021, target 975, stop loss 1052

Mehul Kothari's stock of the day

5] Polyplex: Buy around 2050, target 2240, stop loss 1950

Avinash Gorakshkar's stocks to buy today

6] TCS: Buy at CMP, target 3370, stop loss 3170

7] IGL: Buy at CMP, target 385, stop loss 340.

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

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ABOUT THE AUTHOR
Asit Manohar
Chief Content Producer at Live Mint Digital Team
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Published: 23 Jun 2022, 06:26 AM IST
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