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Home / Markets / Stock Markets /  Day trading guide for Tuesday: 8 stocks to buy or sell today — 10th August

Day trading guide for Tuesday: The choppy movement continued in the market for the third consecutive session on Monday and the NSE Nifty closed 20 points higher at 16,258 while BSE Sensex scaled 125 points north and closed at 54,402 levels. Bank Nifty regained 36,000 levels and closed 219 points up at 36,028 mark. BSE mid-cap index shed over 1 per cent while the BSE small-cap declined nearly 0.75 per cent. Volumes on the NSE were the lowest since July 14, which indicates disinterest on the part of traders in a market. In the global markets, Wall Street to remained sideways on Monday as Dow Jones shed 0.30 per cent while Nasdaq added 0.16 per cent.

Trade view on Nifty

Stock market experts are of the opinion that after a sharp upside breakout of the broader high low range at 16,000 levels recently, the underlying shifting into a narrow range movement without showing any major decline could be considered as a breather pattern and this action indicate a buy on dips opportunity near the upside breakout point around 16,100 to 16,200 levels, as per the concept change in polarity.

Speaking on day trading guide for Tuesday; Nagaraj Shetti, Technical Research Analyst at HDFC Securities said, "The short term trend of Nifty remains choppy. The recent upside breakout of broader range is still intact. The present consolidation/minor weakness is unlikely to damage the sentiment post upside breakout. We expect Nifty to show sharp upside bounce again from near the support of 16,100 levels in the next couple of sessions. A decisive move above 16,350 could pull Nifty towards 16,500 in the near term."

Day trading stocks to buy today

On the basis of the above mentioned day trading strategies, stock market experts — Sumeet Bagadia, Executive Director at Choice Broking; Mudit Goel, Senior Research Analyst at SMC Global Securities; Sandeep Matta, Founder at TRADEIT Investment Advisors; Rohit Singre, Senior Technical Analyst at LKP Securities and Kapil Goenka, Director at C M Goenka Stock Brokers — recommended these 8 shares to buy today.

Sumeet Bagadia's day trading stocks

1] Mahindra & Mahindra (M&M): Buy at CMP, target 800 to 820, stop loss 760

2] Dr Reddy's Laboratories: Momentum buy at CMP, target 4925 to 5000, stop loss 4740

Mudit Goel's stock of the day

3] Axis Bank: Buy at CMP, target 775, stop loss 745

Sandeep Matta's stocks to buy today

4] TVS Motors: Buy around 565, target 583 to 600, stop loss 548

5] Muthoot Capital: Buy at 415, targt 435 455, stop loss 390

Rohit Singre's shares to buy today

6] RPG Life Sciences: Buy at 514, target 535 to 555, stop loss below 493

7] Deepak Nitrite: Buy at 2165, target 2200 to 2230, stop loss below 2125

Kapil Goenka's stock to buy today

8] Laxmi Organic: Buy at 272, target 310, stop loss 252.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.

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