Day trading guide for Wednesday: 6 stocks to buy or sell today — 22nd June
2 min read . Updated: 22 Jun 2022, 08:28 AM IST
Premium- Day trading guide for Wednesday: Nifty is currently facing a crucial overhead resistance around 15,700 to 15,800 levels, believe stock market experts
Day trading guide for Wednesday: Following positive global markets, bottom fishing due to cheaper valuations and short covering at lower levels, Indian stock market continue to rise on second successive session. Recording largest intraday gain since 17th May 2022, Nifty 50 index went up 288 points and closed at 15,638 levels whereas BSE Sensex ended 934 points higher at 52,532 mark. Nifty Bank index surged 506 points and closed at 33,191 levels.
According to stock market experts, a long bull candle was formed on the daily chart and the Nifty seems to have confirmed a short term bottom reversal at the swing low of 15183 levels. The formation couple of doji and high wave pattern at the lows of the last two sessions have finally resulted in a decisive reversal on Tuesday. This is positive indication.
Day trading guide for stock market today
Speaking on day trading guide for Nifty today, Nagaraj Shetti, Technical Research Analyst at HDFC Securities said, "Nifty is currently facing a crucial overhead resistance around 15,700 to 15,800 levels (previous swing lows, as per the concept of change in polarity). Considering the significance of this value area (evident of long bear candle formation during recent downside breakout), there is a possibility of weakness emerging from the hurdle. However, any consolidation or minor weakness in the next few sessions at the resistance could hint possibility of sharp upside breakout of 15,800 levels."
Day trading stocks
Sharing intraday stocks for today, share market experts — Rajesh Bhosale, Technical Analyst at Angel One; Mehul Kothari, AVP — Technical Research at Anand Rathi; Anuj Gupta, Vice President — Research at IIFL Securities and Avinash Gorakshkar, Head of Research at Profitmart Securities — recommended 6 stocks to buy today.
Rajesh Bhosale's intraday stocks for today
1] HDFC Life: Buy around ₹564, target ₹579, stop loss ₹554
2] ITC: Buy around ₹270, target ₹281, stop loss ₹264
Mehul Kothari's stocks to buy today
3] Bajaj Finance: Buy around ₹5550, target ₹5800, stop loss ₹5400
4 ] L&T: Buy around ₹1500, target ₹1600, stop loss ₹1450
Anuj Gupta's stock of the day
5] Tata Motors: Buy at CMP, target ₹420, stop loss ₹377
Avinash Gorakshkar's stock pick for Wednesday
6] DLF: Momentum buy at CMP, target ₹340, stop loss ₹302.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.
