2 min read.Updated: 13 Oct 2021, 06:50 AM IST Edited By Asit Manohar
Day trading guide for Wednesday: Further upsides on NSE Nifty are likely once the immediate resistance of 18,009 is taken out, stock market experts believe
Listen to this article
Day trading guide for Wednesday: Indian stock market ended in positive zone on Tuesday. NSE Nifty gained 46 points and closed at 17,991 levels whereas BSE Sensex shot up 148 points and closed at 60,284 levels. Bank Nifty index went up 227 points and closed at 38,521 levels. On a day when the volumes on the NSE were in line with recent averages; consumer durables, metals and FMCG indices rose the most while IT and telecom indices dipped the most. BSE Mid-cap index ended 0.65 per cent higher while the Small-cap index ended 0.26 per cent up.
According to stock market experts, although NSE Nifty index has corrected from the highs of Monday, it bounced back on Tuesday and managed to close on a strong note above the 20 DMA (Days Moving Average). This indicates that the short term uptrend looks set to continue.
Speaking on intraday trading strategy; Subash Gangadharan, Senior Technical and Derivative Analyst at HDFC Securities said, "Further upsides on NSE Nifty are likely once the immediate resistance of 18,009 is taken out. Next upside target for Nifty is at 18,100. Immediate support for NSE Nifty to watch for weakness is at 17,958 levels."
Day trading stocks for today
Sharing intraday stocks for today, stock market experts — Sumeet Bagadia, Executive Director at Choice Broking; Mudit Goel, Senior Research Analyst at SMC Global Securities; Ravi Singhal, Vice Chairman at GCL Securities; Dr Ravi Singh, Head of Research & Vice President at Share India; Sandeep Matta, Founder at TRADEIT Investment Advisors and Manoj Dalmia, Director & Founder, Proficient Equities Private Limited — recommended 9 intraday shares for today.
Sumeet Bagadia's intraday stocks for today
1] Hindustan Petroleum Corporation Limited or HPCL: Buy at CMP, target ₹338 to ₹345, stop loss ₹318