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Day trading guide for Thursday: Indian stock market snapped its two day winning streak on Wednesday driven lower by weak global cues. NSE Nifty dipped 176 points and closed at 17,646 levels whereas BSE Sensex shed 555 points and closed at 59,189 levels. Bank Nifty index ended 219 points lower at 37,521 levels. On a day when the volumes on the NSE were higher than recent average, all the sectoral indices ended in the red with metals, realty, healthcare and consumer durables leading the pack on the downside. S&P BSE Mid-cap index shed 1.2 per cent and S&P BSE Small-cap index fell 0.5 per cent.

Day trading guide on Nifty

Unveiling intraday trading strategy in regard to NSE Nifty; Deepak Jasani, Head of Retail Research at HDFC Securities said, "Nifty has formed a lower top on a short term basis. It has also formed an engulfing top on daily charts, which has bearish connotations. The weak advance decline ratio also suggests wide spread profit taking. Even if the global markets show some recovery, Nifty could after a small recovery again run into profit taking. Investors may take a part of their profits and raise cash, while traders can keep strict stop losses and reduce their positions till the sentiment improves."

Day trading stocks for today

Sharing intraday stocks for today, stock market experts — Sumeet Bagadia, Executive Director at Choice Broking; Ravi Singhal, Vice Chairman at GCL Securities; Rohit Singre, Technical Research Analyst at LKP 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] Tata Consumer Products: Momentum buy at CMP, target 840 to 850, stop loss 799

2] Britannia Industries: Buy at CMP, target 4050 to 4100, stop loss 3825

Sandeep Matta's day trading stocks to buy today

3] HDFC Asset Management Company: Buy at 2900, target 3000 to 3100, stop loss 2800

4] Ashok Leyland: Buy at 130, target 137, stop loss 123

Ravi Singhal's stock of the day

5] Reliance Industries: Sell at 2570, target 2500, stop loss 2588

Ravi Singh's shares to buy today

6] Bharti Airtel: Sell at 695, target 680, stop loss 700

7] Bharat Petroleum Corp Ltd or BPCL: Buy at 445, target 455, stop loss 442

Rohit Singre's stocks to buy today

8] Navin Fluorine International Limited: Buy at CMP, target 4100 to 4150, stop loss below 3980

9] Piramal Enterprises Ltd or PEL: Buy at CMP, target 2900 to 2940, stop loss below 2805.

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

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