Today’s trading guide for Friday: After showing decent bullish movement over the past three sessions, the Indian stock market turned into a choppy move on Thursday and closed the day in negative territory. On the March F&O series expiry day, NSE Nifty ended 33 points lower at 17,464 levels while BSE Sensex lost 115 points and closed at 58,568 levels. The Nifty Bank Index added 39 points and closed at 36,373 levels.
According to stock market experts, the current market pattern indicates range-bound action in the market. They also argued that a lack of net selling near the crucial 17,500-level overhead resistance was seen, which could be seen as a positive signal for the bulls, as this consolidation move could eventually lead to a upward breakout of the hurdle.
Daily trading guide for the stock market today
Share intraday trading tips for the Nifty 50 Index; Nagaraj Shetti, Technical Research Analyst at HDFC Securities, said: “Nifty’s short-term trend is limited and this consolidation or minor downside correction may continue for the next 1-2 sessions before showing another round of bounces higher. Immediate support for NSE Nifty is placed at 17,350 levels.”
At significant levels with respect to Nifty and Bank Nifty; Avinash Gorakshkar, Head of Research at Profitmart Securities, said: “The wider NSE Nifty range today is between 17,270 and 17,680, while the short NSE Nifty range is between 17,350 and 17,600 levels. Similarly, the wider range of the Nifty Bank Index is placed between 35,700 and 36,850 while the short range of the 50-stock index is between 35,800 and 36,650 levels.”
Day trading stocks
Share Intraday Stocks for Today, Stock Market Experts – Sumeet Bagadia, Executive Director at Choice Broking; Avinash Gorakshkar at Profitmart Securities; Mehul Kothari, AVP — Technical Research, Anand Rathi Shares & Stock Brokers; Anuj Gupta, Vice President at IIFL Securities and Astha Jain, Senior Research Analyst at Hem Securities — recommended 8 stocks to buy today.
Sumeet Bagadia Day Trading Stocks to Buy Today
1]Britannia Industries: Buy from CMP, objective ₹3300, stop loss ₹3140
2]Hindustan Copper: buy from CMP, objective ₹120, stop loss ₹110
Avinash Gorakshkar’s stock of the day
3]Hindustan Unilever Ltd: buy from CMP, objective ₹2120, stop loss ₹2010
Anuj Gupta Intraday Stocks for Today
4]IDFC First Bank: Buy from CMP, objective ₹43, stop loss ₹36
5]Ashok Leyland: Buy from CMP, target ₹124, stop loss ₹107
Mehul Kothari stocks to buy today
6]Container Corporation of India or CONCOR: Buy from CMP, objective ₹705, stop loss ₹650
7]Balrampur Chini Mills: Momentum buy at CMP, objective ₹510, stop loss ₹475
Astha Jain’s stock pick for today
8]Fineotex Chemical: Buy from CMP, objective ₹175 target ₹205, stop loss ₹150.
Warning: The opinions and recommendations made above are those of individual analysts or brokerage firms, and not of Mint.
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