Day trading guide for Wednesday: 6 stocks to buy or sell today — 1st June
1 min read . Updated: 01 Jun 2022, 07:08 AM IST
Premium- Day trading guide: The near term uptrend status of Nifty remains intact, say stock market experts
Day trading guide for Wednesday: After showing a sharp upside move on Monday, Indian stock market shifted into a consolidation zone with weak bias on Tuesday session. Nifty 50 ended 76 points lower at 16,584 levels whereas BSE Sensex shed 359 points and closed at 55,566 mark. Nifty Bank dipped 339 points and closed at 35,487 levels.
According to stock market experts, market has failed to sustain the upside recovery. They went on to add that current market pattern indicates cooling off of the up trend post sharp upside move, which could be considered as a temporary halt in the upside momentum.
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 near term uptrend status of Nifty remains intact. The present consolidation movement or minor downward correction could continue for the next 1-2 sessions, which is likely to prepare a base for another round of sharp upside move in Nifty for the near term. The next upside levels for NSE Nifty to be watched around 16,900 to 17,000 levels."
Day trading stocks
Sharing intraday stocks for today, stock market experts — Sumeet Bagadia, Executive Director at Choice Broking; Rohit Singre, AVP — Technical Research at Bonanza Portfolio and Ravi Singh, Vice President & Head of Research at Share India Securities — recommended 6 stocks to buy today.
Sumeet Bagadia's intraday stocks for today
1] JSW Steel: Momentum buy at CMP, target ₹570 to ₹580, stop loss ₹530
2] Tech Mahindra: Buy at CMP, target ₹1225, stop loss ₹1150
Rohit Singre's day trading stocks to buy today
3] Bharat Forge: Buy at CMP, target ₹750, stop loss ₹685
4] Arvind Fashions: Buy at CMP, target ₹277, stop loss ₹260
Ravi Singh's stocks to buy today
5] Coal India: Buy around ₹193, target ₹200, stop loss ₹190
6] GAIL: Buy around 147, target ₹152, stop loss ₹145.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.
