Day trading guide for today: Six stocks to buy or sell on Friday — October 13

Day trading guide for today: After showing a sustainable upside move in the last couple of sessions, Indian stock market shifted into consolidation and closed lower on Thursday. Nifty 50 index went off 17 points and closed at 19,794 levels, BSE Sensex shed 64 points and ended at 66,408 mark. However, Nifty Bank index finished 82 points higher at 44,599 levels. In broad market, small-cap index surged 0.60 per cent while mid-cap index addedd 0.30 per cent.

Day trading guide for stock market today

On outlook for Nifty 50 today, Nagaraj Shetti, Technical Research Analyst at HDFC Securities said, "Nifty is currently placed at the trend line resistance around 19,850 levels and the positive chart pattern like higher tops and bottoms is intact as per daily timeframe chart. Further weakness from here is likely to end up with new higher bottom formation around the support of 19,650 levels. The overall chart pattern indicates buy on dips opportunity for short term. A decisive move above the hurdle of 19,850 levels could open next round of sharp upside momentum for the market ahead."

On outlook for Bank Nifty today, Ashwin Ramani, Derivatives & Technical Analyst at SAMCO Securities said, "Bank Nifty failed to go past the 44,700 levels for the second consecutive day and closed at 44,599, up 82 points. A breakout above 44,700 can take the Index until 45,000 levels while 44,500 level is likely to act as strong support. A breakdown below 44,500 can result in bears making a comeback in Bank Nifty again."

Nifty Call Put Option data

Speaking on Nifty Call Put Option data, Chinmay Barve, Head of Technical & Derivatives Research at Profitmart Securities said, "Major total Call open interest was seen at 19900 and 20000 strikes with total open interest of 63865 and 80791 contracts respectively. Major Call open interest addition was seen at 19800 and 20000 strike which added 59604 and 41557 contracts respectively," adding, "Major total Put open interest was seen at 19800 and 19700 strikes with total open interest of 97544 and 75693 contracts respectively. Major Put open interest addition was seen at 19800 strike which added 63157 contracts."

Buy or sell: Vaishali Parekh recommends three stocks to buy today — October 13

Bank Nifty Call Put Option data

On Bank Nifty Call Put Option data, Chinmay Barve said, "As per data shown by nseindia.com at 3.30 pm on 12 October 2023, major total Call open interest was seen at 44700 and 45000 strikes with total open interest of 128181 and 128886 contracts respectively. Major Call open interest addition was seen at 44700, 44800 and 45200 strikes which added 73187, 48489 and 34437 contracts in open interest respectively," adding, "Major r total Put open interest was seen at 44500 and 44000 strikes with total open interest of 156358 and 105540 contracts respectively. Major Put open interest addition was seen at 44600 and 44500 strikes which added 70351 and 74163 contracts respectively."

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Day trading stocks for today

On intraday stocks for today, stock market experts — Sumeet Bagadia, Executive Director at Choice Broking; Ganesh Dongre, Senior Manager — Technical Research at Anand Rathi and Kunal Kamble, Sr.Technical Analyst at Bonanza Portfolio — recommended six stocks to buy today.

Sumeet Bagadia's intraday stocks for today

1] Hindustan Unilever Ltd or HUL: Buy at ₹2557, target ₹2665, stop loss ₹2500.

HUL share price has bounced back from the support level of ₹2500 which is also close to its 20 Day EMA levels. Stock is currently trading around ₹2557 levels. The stock is also trading above all its important moving averages indicating strength. The momentum indicator RSI is currently at 60 levels. A smaller resistance is witnessed around ₹2592 levels, once stock crosses the mentioned resistance it can lead towards the target of ₹2665 and above.

2] DMart: Buy at ₹3862.75, target ₹4338, stop loss ₹3651.

DMart share is currently trading at ₹3780 and has exhibited a symmetrical triangle pattern on its daily chart. The price has recently broken out from the trendline of this pattern and undergone a robust retest at ₹3780 level, followed by a strong pullback from retest levels. Upon surpassing the ₹3981 price point, the stock is poised to break out of the symmetrical triangle pattern, with a short-term target of ₹4338.

The anticipated recovery in the Nifty FMCG and grocery segment is expected to bolster buying momentum in DMART shares. Additionally, the technical analysis reveals that DMART is trading above critical Exponential Moving Averages (EMAs), specifically the 50-day, 100-day, and 200-day EMAs, affirming its bullish momentum and the potential for further upward price movement.

Ganesh Dongre's stocks to buy today

3] Shalby: Buy at ₹286, target ₹298, stop loss ₹280.

Shalby share price has a bullish reversal pattern, technically retrenchment could be possible till ₹298 so, holding the support level of ₹280 this stock can bounce toward the ₹298 level in the short term. Hence, the trader can go long with a stop loss of ₹280 for the target price of ₹298.

4] RBL Bank: Buy at ₹247, target ₹260, stop loss ₹240.

RBL Bank share price has shown a bullish reversal pattern, so holding the support level of ₹240. This stock can bounce toward the ₹260 level in the short term, so the trader can go long with a stop loss of ₹240 for the target price of ₹260.

Kunal Kamble's buy or sell stocks

5] Maruti Suzuki India Ltd or MSIL: Buy at ₹10,580.95 to ₹10,575, target ₹11,535, stop loss ₹10,104.

Maruti is currently respecting its time cycle low, which was established on the 10th of October 2023. Since the formation of this time cycle low, Maruti has experienced consistent buying pressure, as evidenced by a series of strong bullish candles over the course of two consecutive days. Furthermore, today's trading volume has exceeded the levels observed in the previous few days, indicating a heightened level of interest in the stock. Additionally, it's worth noting that Maruti price is trading above both the Slow (18) Exponential Moving Average (EMA) and the Fast (45) EMA. This dual crossover of EMAs indicates a positive trend in the stock. Hence based on above Technical Setup a long position can be made with a SL of ₹10104 for a TP of ₹11535.

6] Dr Lal Pathlabs: Buy at ₹2547.55 to ₹2545, target ₹2700, stop loss ₹2475.

On the daily chart, Lalpath Lab has established a robust hurdle zone between ₹2500 and ₹2530, where buyers have been actively accumulating shares, propelling the stock above the hurdle mark. The recent positive price action confirms the dominance of buyers, result in the breakout of the rounding bottom formation suggesting the potential for further upward movement. Additionally, the stock is currently trading above significant moving averages, supporting the bullish momentum, and today's closing above the previous resistance line reinforces the positive trend. Hence based on above Technical Setup a long position can be made for a Tp of ₹2700 with a SL of ₹2475.

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.