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Day trading guide for Thursday: After showing a sharp upside bounce from the lows on Tuesday, the strong upside momentum continued in the Indian stock market on Wednesday. Nifty 50 index surged 293 points and closed at 17,469 levels while BSE Sensex shot up 1016 points and closed at 58,649 levels. Bank Nifty index appreciated 666 points and closed at 37,284 mark. According to stock market experts, this upside move in last two sessions has erased the negative sentiment emerged on last Friday and this Monday.
On a day when the volumes on the NSE were higher than the recent average; realty, metals, auto, telecom, IT and bank indices surged the most. BSE Small-cap and Mid-cap indices underperformed the Nifty rising 1.4 per cent and 1.5 per cent respectively.
Day trading guide for Nifty 50 today
Unveiling day trading guide for Thursday; Nagaraj Shetti, Technical Research Analyst at HDFC Securities said, "The bulls have gained upside momentum in the last two sessions and the market is now placed at the important juncture. A decisive move above 17,550 to 17,600 levels on NSE Nifty could open further sharp upside towards 18,000 levels in a quick period of time. Any failure to sustain above this area is likely to trigger weakness from the highs towards the low of 17,250 to 17,200 levels on NSE Nifty in the near term."
Day trading stocks to buy today
Listing out day trading stocks for today's trade session, stock market experts — Sumeet Bagadia, Executive Director at Choice Broking; Ravi Singhal, Vice Chairman at GCL Securities, Ravi Singh, Head of Research & Vice President at ShareIndia, Manoj Dalmia, Founder & Director at Proficient Equities Limited and Parth Nyati, Founder at Tradingo — recommended 9 stocks to buy or sell today.
Sumeet Bagadia's day trading stocks
1] Hindustan Zinc: Buy at CMP, target ₹380 to ₹400, stop loss ₹340
2] Glenmark Pharmaceuticals: Momentum buy at CMP, target ₹520 to ₹530, stop loss ₹494
Ravi Singhal's stock of the day
3] Bajaj Finserv: Sell around ₹17800, target ₹17017, stop loss ₹18111
Ravi Singh's stocks to buy today
4] Bharti Airtel: Buy at ₹714, target ₹735, stop loss ₹708
5] DLF: Buy at ₹396, target ₹410, stop loss ₹392
Manoj Dalmia's day trading stocks for Thursday
6] Polyplex: Buy at ₹2002, target ₹2370, stop loss ₹1903
7] Gufic BioSciences: Buy at ₹222, target ₹259, stop loss ₹209
Parth Nyati's stock picks for Thursday
8] Sundram Fasteners: Buy at ₹868, target ₹900, stop loss ₹850
9] Biocon: Buy around ₹383, target ₹393, stop loss ₹377.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.
