2 min read.Updated: 19 Oct 2021, 06:57 AM IST Edited By Asit Manohar
Day trading guide: The short term trend of Nifty remains positive. The overall chart pattern calls for caution for long positions and there is a possibility of another round of short term weakness from the higher levels, believe stock market experts
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Day trading stocks: The upside moves in the Indian stock market continued for the 7th consecutive sessions on Monday. Amid minor volatility, NSE Nifty closed 138 points higher at 18,477 after making a new all-time high of 18,543. BSE Sensex shot up 459 points and closed at 61,765 levels whereas Bank Nifty index surged 343 points and closed at 39,684 levels. According to market experts, current pattern indicates top reversals. Hence, trading long positions needs to be protected with appropriate stop loss.
On a day when the volumes on the NSE crossed ₹1 lakh crore mark; power, metals and IT were the main sectoral gainers while healthcare and telecom were the main losers. The broader indices BSE Small-cap and Mid-cap added 0.7 per cent and 1 per cent respectively.
Unveiling day trading guide and intraday trading strategy for Tuesday; Nagaraj Shetti, Technical Research Analyst at HDFC Securities said, "The short term trend of Nifty remains positive. The overall chart pattern calls for caution for long positions and there is a possibility of another round of short term weakness from the higher levels. The expected weakness could be a buy on dips opportunity for the near term. A sustainable move above 18,650 is likely to nullify this negative indication. Immediate support for NSE Nifty is placed at 18,350 levels."
Day trading stocks to buy today
Sharing intraday stocks for today, stock market experts — Sumeet Bagadia, Executive Director at Choice Broking; Mudit Goel, Senior Research Analyst at SMC Global Securities; Rohit Singre, Senior Technical Analyst at LKP Securities; Ravi Singhal, Vice Chairman at GCL Securities; Dr Ravi Singh, Head of Research & Vice President at Share India and Manoj Dalmia, Director & Founder at Proficient Equities Private Limited — recommended 8 intraday shares for today.
Sumeet Bagadia's intraday stocks for today
1] HDFC Life: Momentum buy at CMP, target ₹725, stop loss ₹690