Day trading guide for Tuesday: The upside momentum continued in the Indian markets on Monday and NSE Nifty closed with 54 points gain at 17,377 levels. The BSE Sensex appreciated 166 points and closed at record 58,296 levels. After opening on a positive note on yesterday, the market shifted into a narrow intraday range movement from early-mid to later part of the session. According to market experts, such patterns at the highs or crucial hurdles more often act as a reversal after the confirmations of decline in subsequent sessions. Therefore, any reasonable decline on Tuesday trade session could signal minor downward correction in the market.
Trade view on Nifty
Speaking on intraday trading tips; Nagaraj Shetti, Technical Research Analyst at HDFC Securities said, “The short-term trend for Nifty continues to be positive. Though, Nifty formed a small range candle at the new highs, there is no immediate threat to a short term upside momentum for the Nifty. Initial upside targets for NSE Nifty to be watched is around 17,500 to 17,600 levels in the next few sessions. Immediate support for NSE Nifty is placed at 17,300 levels.”
Day trading stocks to buy today
Sharing day trading stocks for today, stock market experts — Sumeet Bagadia, Executive Director at Choice Broking; Sandep Matta, Founder, TRADEIT Investment Advisors; Kapil Goenka, Founder at Eternity Financial Services; Manoj Dalmia, Director and Founder, Proficient Equities; Mudit Goel, Senior Research Analyst at SMC Global Securities and Rohit Singre, Senior Technical Analyst at LKP Securities — recommended 9 shares to buy today.
Sumeet Bagadia’s stocks to buy today
1] Spencer’s Retail: Buy at CMP, target ₹125 to ₹135, stop loss ₹108
2] IGL: Buy at CMP, target ₹585 to ₹600, stop loss ₹560
Sandeep Matta’s shares to buy today
3] Omaxe: Buy at ₹83.5, target ₹92 to ₹100, stop loss ₹74
4] Mahamaya Steel Industries: Buy above ₹99, target ₹110 to ₹118, stop loss ₹88
Kapil Goenka’s day trading stock
5] Indo Count Industries Ltd or ICIL: Buy at ₹270, target ₹285, stop loss ₹262
Manoj Dalmia’s stock of the day
6] Arvind Smartspace: Buy at ₹141, target ₹159, stop loss ₹133
Mudit Goel’s intraday stock to buy
7] Tech Mahindra: Buy at CMP, target ₹1485, stop loss ₹1448
Rohit Singre’s day trading guide
8] Navin Fluorine International Limited: Momentum buy at CMP, target ₹4230 to ₹4300, stop loss below ₹4070
9] Godrej Agrovet: Buy at ₹660, target ₹700 to ₹730, stop loss ₹630.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.