Day trading guide for today: Six buy or sell stocks for Tuesday — May 9
2 min read 09 May 2023, 07:08 AM ISTDay trading stocks: Market experts have recommended six stocks to buy today — HDFC Life, HPCL, JSW Steel, ONGC, Shriram Finance and IndusInd Bank
PremiumDay trading guide for today: Following strong global market sentiments, Indian stock market finished higher on Monday. Out of three key benchmark indices, NSE Nifty logged highest intraday gain in terms of percentage in current financial year. NSE Nifty gained 1.08 per cent and closed at 18,264 levels, BSE Sensex surged 1.16 per cent and ended at 61,764 mark whereas Bank Nifty index shot up 622 points and closed at 43,284 levels. In broad markets, mid-cap index surged 0.94 per cent while small-cap index gained 0.56 per cent on Monday.
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 remains positive. A sustainable move above 18,300 levels is expected to pull Nifty towards the next upper area of 18,600-18,700 levels in the near term. Any failure to surpass above the hurdle is likely to result in further consolidation with minor weakness. Immediate support for NSE Nifty is placed at 18,100-18,050 levels."
Expecting the uptrend to continue, Siddhartha Khemka, Head - Retail Research at Motilal Oswal said, "For the week ahead, we expect the market to continue with its positive structure dictated by corporate earnings and consistent buying by FIIs. Investors would watch out for economic cues such as inflation data of India, the US and China along with UK GDP data and BoE interest rate during the week."
Unveiling intraday trading tips for Tuesday, Ruchit Jain, Lead Research at 5paisa.com said, "Amongst stock specific moves, the large cap cement stocks have been witnessing increasing volumes along with a positive price action. Hence, short to medium term traders can look for stock specific opportunities within this space."
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 to buy today.
Sumeet Bagadia's buy or sell stocks for today
1] HDFC Life: Buy at CMP, target ₹570 to ₹575, stop loss ₹535
2] HPCL: Buy at CMP, target ₹260 to ₹265, stop loss ₹247
Anuj Gupta's intraday stocks for today
3] JSW Steel: Buy at CMP, target ₹760, stop loss ₹715
4] ONGC: Buy at CMP, target ₹185, stop loss ₹157
Ganesh Dongre's day trading stocks to buy today
5] Shriram Finance: Buy at ₹1348, target ₹1375, stop loss ₹1320
6] IndusInd Bank: Buy at ₹1127, target ₹1170, stop loss ₹1100.
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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