Day trading guide for today: Five stocks to buy or sell on Monday — 28th August
3 min read 28 Aug 2023, 07:54 AM ISTDay trading stocks: Market experts have recommended five stocks to buy today — Infosys, Titan Company, KPI Green Energy, Century Plyboards, and Map My India
PremiumDay trading guide for today: On account of weak global market cues, Indian stock market ended downside on second day in a row on Friday. NSE Nifty went down 120 points and ended at 19,265 levels, BSE Sensex finished 365 points southward at 64,886 mark whereas Bank Nifty index corrected 264 points and closed at 44,231 levels. NSE Cash market volumes were higher as compared to recent average. All the sectoral Indices ended in the red. Amongst the sectoral indices, Nifty PSU Banks, Nifty Reality and Nifty Healthcare were major losers.
Day trading guide for stock market today
On outlook for Nifty today, Nagaraj Shetti, Technical Research Analyst at HDFC Securities said, "The short term trend of Nifty continues to be negative and there is a possibility of some more weakness in the coming sessions. However, a sizable upside bounce from the important lower support of 19,000 mark can't be ruled out in the near term. Immediate resistance for Nifty today is placed at 19,380 levels."
On outlook fro Bank Nifty today, Apurva Sheth, Head of Market Perspectives & Research at SAMCO Securities said, "Bank Nifty also opened with a gap down and drifted lower. Maximum put open interest is placed at 44,000 levels while horizontal support is placed at 43,500. Bulls will try to stay afloat these levels in the coming week."
Stocks to watch today
Market observers and investors are expected to remain vigilant about the board meeting outcome of Vedavaag System, Dhruv Consultancy Services and Blue Chip Tex Fuel Industries as board of directors of these companies are going to consider and approve interim and final dividend. Among dividend stocks in August 2023, three stocks are going to trade ex-dividend today. Those three dividend paying stocks are Wardwizard Innovations and Mobility, Precision Wires and Bannariamman Sugars.
F&O ban list
Eight stocks have been put in the list of F&O ban during Monday session. Those eight stocks are BHEL, Escorts, GMR Infra, Hindustan Copper, India Cements, Manappuram Finance, RBL Bank and Sun TV.
Day trading stocks for today
On intraday stocks for today, stock market experts — Sumeet Bagadia, Executive Director at Choice Broking; Rajesh Bhosale, Technical Analyst, Angel One and Pravesh Gour, Senior Technical Analyst at Swastika Investmart — recommended five stocks to buy or sell today.
Sumeet Bagadia's intraday stocks for today
1] Infosys: Buy at ₹1420, target ₹1465, stop loss ₹1394.
Infosys share is currently trading at ₹1420, having found a firm support zone between ₹1395 to ₹1400 levels, from which it has recently rebounded. This price action is indicative of a potential bullish sentiment in the stock. Furthermore, the Relative Strength Index (RSI) stands at 59, demonstrating an upward trend trajectory.
An encouraging sign for traders and investors is the impending breakout of the ₹1425 resistance level, which could catalyze a substantial upward movement in INFY shares. Against this backdrop, a prudent trading strategy may involve initiating a buy position at the current market price of ₹1420, while maintaining a stop loss at ₹1394 to mitigate potential downside risks.
2] Titan Company: Buy at ₹3067, target ₹3210, stop loss ₹2980.
Titan share price has a strong support at ₹2980 which is also a 50 Day EMA levels. If the stock maintains a higher level than ₹3100, it may advance upward and approach the target price of ₹3210 levels which is also all-time high levels. On daily chart TITAN has formed a hammer pattern which indicates bullishness for the stock. The RSI indicator is comfortably trading at 60 levels which indicate that the stock has potential to move upwards.
Rajesh Bhosale's stocks to buy today
3] KPI Green Energy: Buy at ₹920, target ₹1000, stop loss ₹870.
The stock is looking on chart pattern and may given upside movement in near term.
4] Century Plyboards: Buy at ₹660, target ₹720, stop loss ₹620.
Chart pattern is signaling upside movement in short term.
Pravesh Gour's stock of the day
5] CE Info Systems or Map My India: Buy at ₹1775, target ₹1834, stop loss at ₹1735.
The counter is continuing its higher highs and higher lows formation and has given a breakout of a flag formation with huge volume.
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.
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