2 min read.Updated: 24 Nov 2021, 07:30 AM IST Edited By Asit Manohar
Day trading guide: Nifty moving above 17,750 to 17,800 levels could change the negative trend setup towards positive and one may expect further upside move ahead, believe stock market experts
Listen to this article
Day trading stocks: After showing sharp weakness in the last few sessions, Indian stock market witnessed a sustainable upside bounce from the lows on Tuesday session. NSE Nifty surged 86 points and closed at 17,503 levels, BSE Sensex added 198 points and closed at 58,664 levels whereas Nifty Bank index went up 144 points and closed at 37,272 levels. According to stock market experts, current market pattern indicates pullback rally at Dalal Street.
On a day when the volumes on the NSE were higher than the recent average, IT was the only sector that ended in the negative. Realty, power, metals, and telecom indices surged the most. Mid-cap and small-cap indices outperformed rising 1.6 per cent and 1.8 per cent respectively.
Unveiling day trading guide for Wednesday; Nagaraj Shetti, Technical Research Analyst, HDFC Securities said, "The short term down trend seems to have halted in Nifty with sustainable upside bounce on Tuesday. A decisive move only above 17,750 to 17,800 levels could change the negative trend setup towards positive and one may expect further upside move ahead. Immediate support for NSE Nifty is placed at 17,220 levels. Any weak upside bounces in the next 1-2 sessions could result in Nifty to revisiting present low of 17,200 levels."
Day trading stocks to buy today
Sharing intraday stocks for today, stock market experts — Rohit Singre, Seniior Technical Analyst at LKP Securities; Ravi Singh, Head of Research & Vice President at ShareIndia and Parth Nyati, Founder at Tradingo — recommended 7 stocks to buy or sell today.
Rohit Singre's intraday stocks for today
1] Polyplex Corp: Buy at ₹1728, target ₹1770 to ₹1800, stop loss below ₹1700