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Day trading guide for Wednesday: 4 stocks to buy or sell today — 5th January

Day trading guide: Nifty metal index has given fresh breakout at 5600 levels on closing basis and it may go up to 6000 and 6200 levels in short term, believe stock market experts. (MINT)Premium
Day trading guide: Nifty metal index has given fresh breakout at 5600 levels on closing basis and it may go up to 6000 and 6200 levels in short term, believe stock market experts. (MINT)

  • Day trading guide: The short term trend of Nifty is sharply up and this upside momentum is likely to continue for the short term, believe stock market experts

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Day trading guide for Wednesday: The sharp upside momentum continued in the Indian stock market for the second consecutive sessions on Tuesday. Fifty stocks index Nifty 50 gained 179 points and closed at 17,805 whereas BSE Sensex shot up 672 points and closed at 59,855 levels. Bank Nifty index surged 418 points and closed at 36,840 levels. According to stock market experts, current market pattern signals more upside for the short term.

Day trading guide for stock market today

Speaking on day trading guide for Nifty today; Nagaraj Shetti, Technical Research Analyst at HDFC Securities said, "The short term trend of Nifty is sharply up and this upside momentum is likely to continue for the short term. The next upside target for NSE Nifty to be watched at 18,200 levels and this could be achieved in the next one week. Immediate support for Nifty is placed at 17,650 levels."

Expecting the bull run to continue in Nifty metal indices; Sumeet Bagadia, Executive Director at Choice Broking said, "Nifty metal index has given fresh breakout at 5600 levels on closing basis and it may go up to 6000 and 6200 levels in short term. So, day traders are advised to look at metal stocks too as banking and metal stocks are expected to lead upcoming rally at Indian stock market."

Day trading stocks

Sharing day trading stocks for today, stock market experts — Sumeet Bagadia, Executive Director at Choice Broking and Avinash Gorakshkar, Head of Research at Profitmart Securities — recommended 4 stocks to buy today.

Sumeet Bagadia's day trading stocks for today

1] Welspun Corp: Momentum buy at CMP, target 195 and 200, stop loss 177

2] Gujarat Alkalies: Buy at CMP, target 690 to 700, stop loss 650

Avinash Gorakshkar's day trading stocks for Wednesday

3] Voltas: Buy at 1246, target 1285, stop loss 1225

4] Container Corporation of India or CONCOR: Buy at 628, target 655, stop loss 613.

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

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