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Business News/ Markets / Stock Markets/  Day trading guide for today: Six stocks to buy or sell on Tuesday — July 18
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Day trading guide for today: Six stocks to buy or sell on Tuesday — July 18

Day trading stocks: Recommended stocks to buy today include Kotak Mahindra Bank, Reliance Industries, Firstsource Solutions, Piramal Pharma, DLF, and Bajaj Finance

Stock market today: Financial space and IT sector will remain in focus, while investors will also keep an eye on US retail sales and IIP data, say experts. (MINT_PRINT)Premium
Stock market today: Financial space and IT sector will remain in focus, while investors will also keep an eye on US retail sales and IIP data, say experts. (MINT_PRINT)

Day trading guide for today: On account of strong global cues, Indian stock market finished on a higher note on Monday. Out of three key benchmark indices, BSE Sensex and NSE Nifty climbed to a new peak on the previous session, which improved the market sentiments further. BSE Sensex scaled to a new record high of 66,656 while NSE Nifty surged to a new life-time high of 19,731 on Monday session. In broad market, small-cap index hit a new peak of 34,079 while mid-cap index climbed to a new all-time high of 29,593 levels.

Day trading guide for stock market today

On outlook for Nifty today, Nagaraj Shetti, Technical Research Analyst, HDFC Securities said, "Having moved decisively above the resistance of 19,500 levels recently, Nifty is expected to reach towards the next upper trajectories of 19,800 levels (1.382% Fibonacci projection) and psychological 20,000 mark in the near term. Important support for trend reversal is placed at 19,500 levels."

Expecting the uptrend to further continue, Siddhartha Khemka, Head - Retail Research, Motilal Oswal said, "Overall, we expect the momentum to continue with intermittent minor declines. Financial space will remain in focus on the expectation of good results from other BFSI heavyweights (Indusind Bank, ICICI Pru., ICICI Lombard and ICICI Bank this week) after HDFC and mid-sized banks reported impressive numbers. With LTI Mindtree and Tata Elxsi results today (Monday) and LTTs results tomorrow (Tuesday), the IT sector would be in the limelight. On the global front, investors will keep an eye on the release of US retail sales and IIP data which will be released on Tuesday."

Stocks to watch today

Among dividend stocks in July 2023, five stocks are going to trade ex-dividend today and those shares are DCM Shriram, UTI AMC, TTK Healthcare, Orient Bell and Precision Camshafts.

Shares of Vivanta Industries will be in focus today as its board of directors is going to consider and approve bonus shares in its meeting today. apart from this, Anmol India shares would be trading ex-bonus today for finalising eligible shareholders for issuance of bonus shares in 4:1 ratio.

Ashapuri Gold share will be trading ex-split today as its board of directors has declared stock split in 1:10 ratio.

F&O ban list

Four shares have been put in F&O ban list for trade date July 18, 2023. Those four stocks are Delta Corp, Indiabulls Housing Finance, Manappuram Finance and RBL Bank.

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 at Anand Rathi — recommended six stocks to buy today.

Sumeet Bagadia's stocks to buy today

1] Kotak Mahindra Bank: Buy at 1897, target 1980, stop loss 1845.

Kotak Mahindra Bank share price has bounced back from the support level of 1850 and crossed the initial resistance of 1892 levels. Currently, the stock is trading around 1897.05 levels and also above all the important moving averages. The stock has a small resistance around 1915 levels which levels. Once stock closes above the mentioned levels it can move higher towards the target of 1980 and above. The momentum indicator RSI is comfortable around 57 levels indicating strength.

2] Reliance Industries Ltd or RIL: Buy at 2796, target 2895, stop loss 2730.

Reliance Industries Ltd., one of India's leading conglomerates, is currently trading at 2796, reaching its 52 week high. The stock has witnessed a significant uptick in trading volume and has consistently closed above the key level of 2735.

Anuj Gupta's buy or sell stocks

3] Firstsource solutions or FSL: Buy at CMP, target 160, stop loss 124.

FSL shares are looking positive on chart pattern as it has formed bullish chart structure with higher top higher bottom.

4] Piramal Pharma: Buy at CMP, target 125, stop loss 90.

Piramal Pharma share has formed bullish chart structure after fresh breakout. The stock is witnessing substantial rise in trade volume as well.

Ganesh Dongre's intraday stocks for today

5] DLF: Buy at 498, target 512, stop loss 489.

In the short-term trend, the stock has a bullish reversal pattern, technically retrenchment could be possible till 512. So, holding the support level of 489 this stock can bounce toward the 512 level in the short term. Hence, the trader can go long with a stop loss of 489 for the target price of 512.

6] Bajaj Finance: Buy at 7510, target 7700, stop loss 7400.

On the short-term chart, the stock has showing a bullish reversal pattern, so holding the support level of 7400 this stock can bounce toward the 7700 level in the short term. Hence, the trader can go long with a stop loss of 7400 for the target price of 7700.

Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views 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: 18 Jul 2023, 07:45 AM IST
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