Day trading guide for Thursday: The upside breakout of range movement could be a cheering factor for bulls to make a comeback, experts believe
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Day trading guide for Thursday: After showing a range bound movement in the last 5-6 sessions, Nifty picked up upside momentum and witnessed northward breakout of the range on Wednesday and made a lifetime closing high of 17,519 — 139 points higher from its Tuesday close. BSE Sensex gained 476 points and made lifetime closing high of 58,723. After opening on a slightly positive note, the market shifted into a sustainable intraday upside move, which continued for the whole session. According to stock market experts, this is positive indication and one may expect further upside in the short term.
Speaking on day trading guide for today; Nagaraj Shetti, Technical Research Analyst at HDFC Securities said, "The upside breakout of range movement could be a cheering factor for bulls to make a comeback. One may expect NSE Nifty to go further upside towards 17,600 to 17,700 levels in next few trade sessions. Immediate support for NSE Nifty is placed at 17,420 levels."
Day trading stocks to buy today
Speaking on day trading stocks for today, stock market experts — Sumeet Bagadia, Executive Director at Choice Broking; Ravi Singhal, Vice Chairman at GCL Securities; Sandeep Matta, Founder at TRADEIT Investment Advisors; Kapil Goenka, Founder at Eternity Financial Services; Manoj Dalmia, Director and Founder, Proficient Equities Private Limited and Rohit Singre, Senior Technical Analyst at LKP Securities — recommended 9 shares to buy today.
Sumeet Bagadia's intraday stocks for today
1] United Phosphorus Ltd or UPL: Buy at CMP, target ₹780 to ₹7790, stop loss ₹745
2] Hindalco: Momentum buy at CMP, target ₹500 to ₹510, stop loss ₹471