2 min read.Updated: 14 Oct 2021, 06:21 AM IST Edited By Asit Manohar
The short term trend of Nifty continues to be positive
Having closed above the hurdle of 18,000 mark, there is a possibility for NSE Nifty of further upside in the coming sessions
Next upside levels to be watched for NSE Nifty is around 18,400 to 18,500 in the next one week
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Day trading guide for Thursday: After showing range bound movement with positive bias in the last four sessions, Nifty witnessed a sharp upside breakout on Wednesday and closed the day higher by 169 points at 18,161 levels. BSE Sensex closed 452 points higher at 60,737 levels whereas Bank Nifty ascended 114 points and closed at 38,635 levels. According to stock market experts, current market pattern indicates an upside breakout of crucial overhead resistance at 18,000 mark. This is positive indication and one may expect follow-through buying in the coming sessions.
On a day when the volumes on the NSE were above recent average; power, metals, consumer durables, capital goods, automobiles and IT were the main gainers while realty index ended marginally in the negative. Mid-cap index rose 1.6 per cent whereas small-cap index rose 0.63 per cent.
Unveiling intraday trading strategy for today; Subash Gangadharan, Senior Technical and Derivative Analyst, HDFC Securities said, "The short term trend of Nifty continues to be positive. Having closed above the hurdle of 18,000 mark, there is a possibility of further upside in the coming sessions. Next upside levels to be watched for NSE Nifty is around 18,400 to 18,500 in the next one week. Immediate support for NSE Nifty is placed at 18,050 levels."
Day trading stocks to buy today
Sharing intraday stocks for today, stock market experts — Sumeet Bagadia, Executive Director at Choice Broking; Mudit Goel, Senior Research Analyst at SMC Global Securities; Rohit Singre, Senior Technical Analyst at LKP Securities; Ravi Singhal, Vice Chairman at GCL Securities; Dr Ravi Singh, Head of Research & Vice President at Share India and Sandeep Matta, Founder at TRADEIT Investment Advisors — recommended 9 intraday shares for today.
Sumeet Bagadia's intraday stocks for today
1] Adani Ports: Buy at CMP, target ₹790 to ₹800, stop loss ₹740