Day trading guide for Monday: After showing range bound movement in the last couple of sessions, the NSE Nifty shifted into a reasonable upside move on Friday and closed the day higher by 68 points at 16,705 levels — logging 1.55 per cent weekly gain last week. The BSE Sensex also managed to sustain above 56,000 levels after closing at 56,124 on Friday trade session — registering 1.44 per cent weekly gain. According to market experts, this weekly pattern indicate an upside trend continuation pattern in the market after a small range movement.
Trade view on Nifty
Speaking on the day trading guide for Monday; Nagaraj Shetti, Technical Research Analyst at HDFC Securities said, “The lack of strong selling enthusiasm at the new highs has resulted in a range bound action and small upside breakout of the said range movement. This is positive indication and there is a possibility of further upside in the short term. The next upside levels to be watched around 16,900 by next week. Immediate support for NSE Nifty is placed at 16,550 levels.”
Day trading stocks to buy today
Speaking on day trading stocks, stock market experts — Sumeet Bagadia, Executive Director at Choice Broking; Kapil Goenka, Founder, Eternity Financial Services and Rohit Singre, Senior Technical Analyst at LKP Securities — recommended these 5 shares to buy today.
Sumeet Bagadia’s stocks to buy today
1] Karur Vysya Bank: Buy at CMP, target ₹45 to ₹48, stop loss ₹39
2] Burger King India: Buy at CMP, target ₹185, stop loss ₹163
Kapil Goenka’s stock of the day
3] NOCIL: Buy at ₹277, target ₹300 to ₹310, stop loss ₹255
Rohit Singre’s shares to buy today
4] Piramal Enterprises Ltd or PEL: Momentum buy at CMP, target ₹2700, stop loss ₹2500
5] P I Industries: Buy at CMP, target ₹3350, stop loss ₹3100.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.
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