BackDay trading guide for Wednesday: 6 stocks to buy or sell today — 6th July
Day trading guide: Nifty may slide down to 15,600 to 15,500 levels again in the near term, say stock market experts
PremiumDay trading guide for Wednesday: Following weakness in early morning deals at the European markets, Indian stocks lost early gains on Tuesday and closed in negative territory. The NSE Nifty 500 index ended 24 points lower at 15,810 levels whereas BSE Sensex shed 100 points and closed at 53,234 mark. Nifty Bank index lost 125 points and closed the day at 33,815 levels.
According to stock market experts, Nifty 50 index gave a breakout from the range with a gap up on Tuesday session, but the momentum fizzled after hitting the 16,000 mark and Nifty corrected to fill the intraday gap at close. They said that a reasonable negative candle was formed on the daily chart with a long upper shadow. Technically, this pattern signals a false upside breakout of the strong resistance as well as the upper range at 15,950 levels (high low range of 15,700 to 15,900 levels).
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 seems to have reversed down from the highs and the current chart pattern indicates the possibility of further weakness in the short term. One may expect Nifty to slide down to 15,600 to 15,500 levels again in the near term."
Day trading stocks
Sharing intraday stocks for today, stock market experts — Sumeet Bagadia, Executive Director at Choice Broking; Anuj Gupta, Vice President — Research at IIFL Securities and Avinash Gorakshkar, Head of Research at Profitmart Securities — recommended 6 stocks to buy today.
Sumeet Bagadia's intraday stocks for today
1] Havells India: Momentum buy at CMP, target ₹1200 to ₹1225, stop loss ₹1120
2] Polycab India: Buy at CMP, target ₹2250, stop loss ₹2125
Anuj Gupta's day trading stocks to buy
3] Tata Motors: Buy at CMP, target ₹460, stop loss ₹380
4] LIC: Buy at CMP, target ₹760, stop loss ₹670
Avinash Gorakshkar's stocks to buy today
5] Mahindra & Mahindra Finance: Buy at CMP, target ₹197, stop loss ₹176
6] SAIL: Buy at CMP, target ₹78, stop loss ₹66.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.
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