Home / Markets / Stock Markets /  Day trading guide for today: 6 stocks to buy or sell on Friday — 17th March

Day trading guide for today: Despite weak global cues on Credit Suisse crisis, Indian stock market snapped five days losing spree on Thursday. NSE Nifty bounced back from tis crucial support levels and finished 13 points higher at 16,985 levels. BSE Sensex added 78 points and closed at 57,634 levels whereas Nifty Bank index surged 81 points and finished at 39,132 mark. Broad market indices ended in the negative even as the advance decline ratio fell to 0.69:1.

Day trading guide for stock market today

Speaking on outlook for Nifty today, Nagaraj Shetti, Technical Research Analyst, HDFC Securities said, "The larger degree lower tops and bottoms continued in the Nifty as per daily chart and Thursday's swing low of 16,850 levels could be considered as a new lower bottom of the sequence. Further upside from here could confirm this reversal pattern and that could possibly open a sustainable upside bounce for the short term. A decisive move above the immediate hurdle of 17,200 is expected to bring strong bounce in the market ahead. Immediate support for Nifty is at 16,850 levels."

Expecting bull vs bear show to continue, Ruchit Jain, Lead Research at 5paisa.com said, "Both Nifty and Bank Nifty witnessed a recovery from the first hour lows in Thursday’s session, and ended with formation of a ‘Doji’ candlestick pattern on the daily chart. In Technical Analysis, this pattern indicates a tug-of-war between bulls and the bears with no directional result towards the end.

Jain expected a pullback move in the market citing, "The overall trend remains negative but since the FII’s have short heavy positions and the index has approached its multiple support zone around 16850-16900, a pullback move could be there in the near term."

Day trading stocks to buy today

On intraday stocks for today, stock market experts — Sumeet Bagadia, Executive Director at Choice Broking; Anuj Gupta, Vice President — Research at IIFL Securities and Ganesh Dongre, Senior Manager — Technical Research at Anand Rathi — recommended 6 stocks to buy today.

Sumeet Bagadia's stocks to buy today

1] TVS Motor: Buy at CMP, target 1080 to 1100, stop loss 1030

2] Ambuja Cements: Buy at CMP, target 390 to 400, stop loss 365

Anuj Gupta's intraday stocks for today

3] Titan Company: Buy at CMP, target 2390, stop loss 2315

4] BPCL: Buy at CMP, target 375, stop loss 334

Ganesh Dongre's day trading stocks for Friday

5] Cholamandalam Finance: Buy at 748, target 770, stop loss 735

6] State Bank of India or SBI: Buy at 525, target 545, stop loss 512.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decisions.

Asit Manohar
Chief Content Producer at Live Mint Digital Team
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