Day trading guide for Thursday: After showing a sharp upside bounce from the lows on Tuesday, Nifty shifted into a consolidation movement on Wednesday and closed 15 points lower at 17,546 levels. BSE Sensex shed 77 points and closed at 58,927 levels. On Wednesday, Indian stock market opened on a positive note, made an attempt to move up in the early part of the session. It later shifted into a narrow intraday range and that continued for the whole session. According to experts, this pattern signal a breather movement after a fine upside bounce from the lows.
On a day when the volumes on the NSE were in line with recent average — realty, metal and auto indices surged the most while banks, utilities and FMCG lost the most. The broader indices outperformed its larger peers with the S&P BSE Mid-cap adding 1.5 per cent and S&P BSE Small-cap gaining over 1 per cent.
Trade view on NSE Nifty
Speaking on intraday trading strategy; Nagaraj Shetti, Technical Research Analyst at HDFC Securities said, "The short term uptrend remains intact and the market is now taking breather before showing further upside. The overall chart pattern of daily and weekly indicate a possibility of range bound action in the next 1-2 trade sessions before showing further upside. The crucial overhead hurdles for NSE Nifty are placed at 17,625 and 17,790 levels and immediate support is placed at 17,445 levels."
Intraday stocks for today
Unveiling day trading stocks for today, stock market experts — Sumeet Bagadia, Executive Director at Choice Broking; Sandeep Matta, Founder at TRADEIT Investment Advisors; Dr Ravi Singh, Founder & Director, DRS Advisory; Manoj Dalmia, Director & Founder, Proficient Equities Private Limited and Rohit Singre, Senior Technical Analyst at LKP Securities — recommended 9 day trading stocks to buy today.
Sumeet Bagadia's day trading stocks for today
1] Grasim Industries: Momentum buy at CMP, target ₹1625 to ₹1650, stop loss ₹1525
2] Oil India Limited: Buy at CMP, target ₹230 to ₹240, stop loss ₹205
Rohit Singre's stocks to buy today
3] United Breweries Limited or UBL: Buy at CMP, target ₹1670 to ₹1690, stop loss below ₹1624
4] Century Textile: Buy at CMP, target ₹960, stop loss ₹880
Sandeep Matta's shares to buy today
5] Vedanta: Buy at ₹294, target ₹308 to ₹316, stop loss ₹294
6] Lupin: Buy at ₹940, target ₹965, stop loss ₹920
Manoj Dalmia's stock of the day
7] Birlasoft: Buy at ₹435, target ₹455, stop loss ₹426
Ravi Singh's stock picks for today
8] Ashok Leyland: Buy at ₹128.50, target ₹135, stop loss ₹125
9] Federal Bank: Buy at ₹81, target ₹88, stop loss ₹78.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.
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