Day trading guide for today: Indian stock market on Thursday snapped its two-day gains on the prospect of the US Fed becoming less aggressive against heightened economic headwinds in the coming months. The NSE Nifty closed at 17,076, down 75 points, while the BSE Sensex closed 289 points down at 57,925. The Nifty Bank index closed at 39,616, down 382 points. The small-cap index also fell below the Nifty while the advance/decline ratio fell to 0.62:1.
Day Trading Guide for Friday
Talking on the outlook for Nifty today, Deepak Jasani, Head of Retail Research, HDFC Securities said, “Nifty could not hold on to two day gains. 17200-17225 is proving to be a tough resistance. On downside, 16985 could provide support.” If Nifty does not turn up again by tomorrow, the short term top would have been made at 17207.”
“Technically the trend is bearish for Nifty and selling at every rally can be a profitable strategy,” said Rohan Patil, Technical Analyst, SAMCO Securities.
Ruchit Jain, Lead Research said, “FIIs still have strong short heavy short positions and it seems they are not willing to cover them. Hence, traders should be cautious in pullback moves and till the time we see shorting by FIIs Aggressive long formations should be avoided until we see covering. 5paisa.com
Rahul Ghosh, Founder & CEO, Hedged, said, “For Nifty to regain upside momentum, Bank Nifty needs to close above 40,200, which is its near-term resistance.”
stock in focus
On stocks to bargain, Rahul Ghosh said, “In this sideways market traders are advised to be stock specific, Life Insurance company’s charts seem to be now ready to come out of their bear market of the last pair One can start going long on HDFC Life from this sector since 475 Placing stop loss below 477 level 452 for higher goals.”
day trading stocks to buy today
On intraday stocks for today, Stock Market Experts – Sumeet Bagadia, Executive Director, Choice Broking; Anuj Gupta, Vice President – Research at IIFL Securities and Ganesh Dongre, Senior Manager – Technical Research at Anand Rathi – recommend 5 stocks to buy today.
sumit bagadia intraday stock for today
1]ONGC: Buy at CMP, target from 156 158, Stop Loss 148
2]Zydus Life: Buy on CMP, Target since 495 500, stop loss 470
Anuj Gupta’s earning today
3]Tata Motors: Buy at CMP, Target 440, stop loss 399
Ganesh Dongre trading stocks for today
4]Colgate-Palmolive: Buy on 1521, target 1560 stop loss 1480
5]ITC: Buy at 380, target 392, Stop Loss 374.
Disclaimer: The views and recommendations given above are those of individual analysts or broking companies and not of o2help. We advise investors to do due diligence with certified experts before making any investment decision.
