Day trading guide for Monday: Indian stock market rose for a second consecutive day on Friday trade session. NSE Nifty surged 104 points and closed at 17,895 levels whereas BSE Sensex went up 381 points and regained the psychological 60,000 levels. Bank Nifty index nudged 22 points high and closed at 37,775 levels. On a day when the volumes on the NSE were in line with recent average, IT and energy indices rose the most while realty and power indices dip the most. Small-cap index was up around 1 per cent while mid-cap index was up around 0.2 per cent.
India’s equity benchmarks logged the best week since the week ended September 3, 2021. It gained 2.07 per cent over the week after losing 1.8 per cent in the previous week. In last week trade; IT, media, auto and realty indices gained the most, while FMCG and pharma ended in the negative. Advance decline ratio ended in the positive though weaker than that in the morning.
Trade view on Nifty
Unveiling intraday trading strategy; Deepak Jasani, Head of Retail Research at HDFC Securities said, “NSE Nifty moved above the bear candle of last Wednesday and in the process almost reached the earlier all time high of 17,948. A move above the all time high could mean running into another resistance at 18,000 for some time. However, if this is achieved, we could move even higher later on. Breadth of the market could deteriorate in the near term as the focus could now shift back to large-caps.”
Day trading stocks to buy today
Sharing intraday stocks for today, stock market experts — Sumeet Bagadia, Executive Director at Choice Broking; Rohit Singre, Technical Research Analyst at LKP Securities; Dr Ravi Singh, Head of Research & Vice President at Share India and Manoj Dalmia, Director & Founder, Proficient Equities Private Limited — recommended 7 intraday shares for today.
Sumeeat Bagadia’s day trading stocks
1] Wipro: Momentum buy at CMP, target ₹680 to ₹700, stopm loss ₹640
2] Reliance Industries: Buy at CMP, target ₹2750, stop loss ₹2610
Rohit Singre’s stock of the day
3] Navin Fluorine International: Buy at ₹4050, target ₹4300 to ₹4500, stop loss below ₹3850
Ravi Singh’s stocks to buy today
4] Glenmark Pharmaceuticals: Buy at ₹525, target ₹570, stop loss ₹510
5] Bharat Heavy Electricals Limited or BHEL: Buy at ₹64, target ₹69, stop loss ₹62
6] Exide Industries: Buy at ₹184, target ₹194, stop loss ₹181
Manoj Dalmia’s share to buy today
7] Suprajit Engineering: Buy at ₹351, target ₹375, stop loss ₹342.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.
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