BackDay trading guide for today: Six buy or sell stocks for Thursday — 27th April
Day trading stocks: Market experts have recommended six buy or sell stocks for today — Grasim Industries, IndiGo, BPCL, Power Grid, TCS and Maruti Suzuki
PremiumDay trading guide for today: Despite weak global cues on softening US economic data and rising banking crisis concerns, Indian stock market finished higher on Wednesday. NSE Nifty added 44 points and closed at 17,813 levels whereas BSE Sensex surged 169 points and finished at 60,300 mark. Nifty Bank index went up 151 points and ended at 42,829 levels. Broad market indices rose marginally more than the Nifty as small-cap index surged 0.34 per cent and mid-cap index went up 0.27 per cent. Advance decline ratio remained positive at 1.29:1.
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 the market continues to be positive. The Nifty is now reaching towards the important resistance of 17,863 levels in the short term. There is a possibility of minor consolidation movement at the highs before showing a decisive upside breakout for the near term. Immediate support for Nifty 50 index is placed at 17700 levels."
"Technically, the bullish candles have shown optimism amongst the traders but the index needs to cross 17,900 levels on the higher side for acceleration in momentum," said Rohan Patil, Technical Analyst at SAMCO Securities.
Unveiling day trading strategy for stock market today, Ruchit Jain, Lead Research at 5paisa.com said, "On the higher side, 50 per cent retracement of the previous correction from all-time high of 18,887 to 16,830 is around 17860. A move above this will be seen as a continuation of the trend which could then extend towards 17,925-17,950 first, and then up to 18,060-18,100. Hence, traders are advised to continue to trade with a positive bias with tab on the above mentioned levels."
Ruchit Jain went on to add that Bank Nifty index showed some divergence on the hourly charts. However, the index just gave a small dip in morning trade on Wednesday and it resumed its upside move.
"This is a sign of a strong trended phase and hence, this index too is expected to continue its rally towards 43000-43100. Even the cash segment midcaps and small cap stocks are witnessing good buying interest. Traders are advised to watch for stocks witnessing high volumes as such counters could give decent returns in the short term," said Ruchit Jain.
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; Jigar Patel, Senior Technical Analyst at Anand Rathi — recommended 6 day trading stocks for today — Grasim Industries, IndiGo, BPCL, Power Grid, TCS and Maruti Suzuki.
Sumeet Bagadia's intraday stocks for today
1] Grasim Industries: Buy at CMP, target ₹1730 and ₹1750, stop loss ₹1670
2] IndiGo: Buy at ₹2060 to ₹2075, stop loss ₹1980
Anuj Gupta's day trading stocks to buy today
3] Power Grid: Buy at CMP, target ₹248, stop loss ₹232
4] BPCL: Buy at CMP, target ₹358, stop loss ₹342
Jigar Patel's buy or sell stocks
5] Maruti Suzuki: Buy at ₹8485, target ₹8600, stop loss ₹8380
6] TCS: Buy at ₹3200, target ₹3260, stop loss ₹3145.
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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