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Business News/ Markets / Stock Markets/  Day trading guide for today: Six buy or sell stocks for Friday — 5th May
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Day trading guide for today: Six buy or sell stocks for Friday — 5th May

Day trading stocks: Market experts have recommended six buy or sell stocks for today — Reliance, Cipla, TCS, CAMS, JK Tyre and Delta Corp

Stock market today: Nifty today is now placed to witness sharp upside breakout of the crucial resistance zone of around 18,200 to 18,300 levels, say experts. (Bloomberg)Premium
Stock market today: Nifty today is now placed to witness sharp upside breakout of the crucial resistance zone of around 18,200 to 18,300 levels, say experts. (Bloomberg)

Day trading guide for today: Following strong global cues on possible interest rate pause by the US Federal Reserve, Indian stock market regained its upside momentum on Thursday. NSE Nifty gained 165 points and closed over four-month high at 18,255 levels whereas BSE Sensex shot up 555 points and finished at 61,749 mark. Nifty Bank index surged 372 points and ended at 43,685 levels. In broad markets, small-cap index went up 0.83 per cent while mid-cap index appreciated 0.82 per cent. The advance decline ratio remained high at 2.25:1.

Day trading guide for stock market today

Speaking on outlook for Nifty today, Nagaraj Shetti, Technical Research Analyst at HDFC Securities said, "Nifty is now placed to witness sharp upside breakout of the crucial resistance zone of around 18,200 to 18,300 levels. Hence, a decisive move above this area could open the next upside targets of around 18,600 to 18,700 levels in the near term. Immediate support for NSE Nifty is placed at 18,150 to 18,100 levels."

On bull vs bear trade setup for today, Rohan Patil, Technical Analyst at SAMCO Securities said, "The bulls continued to take charge in Indian markets as prices are trading in a higher high higher bottom formation on the daily time frame. The strong candle formations on the daily chart post inverted head & shoulder pattern breakout indicate the market is in no mood to retest its breakout levels. The momentum oscillator RS (14) has moved above 70 levels which shows convection in the trend."

Unveiling intraday trading tips for Friday, SAMCO Securities expert said, "We will still consider buying the index on every dip as the trend is our friend and presently the trend is on the higher side."

Day trading stocks for 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 — recommended six day trading stocks for Friday and those buy or sell stocks for today are Reliance Industries Ltd or RIL, Cipla, TCS, Computer Age Management Services or CAMS, JK Tyre and Delta Corp.

Sumeet Bagadia's buy or sell stocks for today

1] Cipla: Buy at CMP, target 950 to 960, stop loss 920

2] Reliance Industries Ltd or RIL: Buy at CMP, target 2500, stop loss 2410

Ganesh Dongre's buy or sell stocks

3] TCS: Buy at 3220, target 3300, stop loss 3170

4] CAMS: Buy at 2062, target 2130, stop loss 2030

Anuj Gupta's day trading stocks for Friday

5] JK Tyre: Buy at CMP, target 205, stop loss 184

6] Delta Corp: Buy at CMP, target 222, stop loss 207.

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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ABOUT THE AUTHOR
Asit Manohar
Chief Content Producer at Live Mint Digital Team
Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
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Published: 05 May 2023, 05:55 AM IST
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