Home Correction trading Daily Trading Guide for Today: 6 Stocks to Buy or Sell Today – October 14

Daily Trading Guide for Today: 6 Stocks to Buy or Sell Today – October 14


Daily trading guide for today: Due to weak global signals, Dalal Street ended lower on Thursday. The Nifty 50 index finished 109 points lower but finished above 17,000 levels. BSE Sensex lost 390 points and closed at 57,235 while the Nifty Bank index lost 494 points and ended at 38,624 levels. The small cap index outperformed key indices even as the expected decline ratio fell to 0.51:1.

According to stock market experts, the Indian stock market is repeatedly testing the 200-day EMA support around 16,900 levels and has not shown any sustainable bullish movement near the support. At the lower levels, 16,800 acts as strong support, coinciding with the value zone and also support for the ascending middle trendline. Therefore, any downward correction could be a buying opportunity on a dip.

Intraday Trading Strategies for the Stock Market Today

Speaking on the technical outlook for NSE Nifty, Nagaraj Shetti, Technical Research Analyst at HDFC Securities, said, “Nifty’s underlying trend remains choppy and the market shows no strength to sustain the highs. 16,800-16,750 levels over the next few sessions before showing a significant bounce higher from the lows. Immediate resistance for NSE Nifty is placed at 17,150 levels.

“The 17000-16900 range followed by the 16750 swing low will be seen as crucial support for Nifty in the near term. pullback, 17260 followed by 17425 will be the initial levels to expect,” said Ruchit Jain, Head of Research at 5paisa.com.

Nifty call put option data

“A nifty weekly expiry options chain sees PE writers actively adding their positions to 17,000PE – in total almost 90,000 contracts and new additions of over 60,000 contracts. One thousand contracts each. The PCR_OI at 17,000 being well above 1, is still a very positive sign for BULLs, which if held will reverse the trend for higher targets,” said Shilpa Rout, Chief Derivatives Analyst at Prabhudas Lilladher.

Bank Nifty Call Put Options Data

“Options Chain Nifty Bank on a weekly basis reflects on PE Writer positions at 37,500 strikes – in total over 40,000 contracts and new additions of 30,000 contracts. CE Writers totaling exposures of over 50,000 contracts in various strikes from 39,000 to 42,000 zones, thus hinting at a very wide range for the index,” added Shilpa Rout.

Day trading stocks to buy today

On intraday trading tips, share from market experts – Sumeet Bagadia, Executive Director at Choice Broking; Anuj Gupta, Vice President – Research at IIFL Securities and Ravi Singh, Vice President and Head of Research at Share India – recommended 6 stocks to buy today.

Sumeet Bagadia shares to buy today

1]Grasim Industries: Buy from CMP, objective 1710 to 1720, stop loss 1650

2]Tata Motors: Buy from CMP, objective 410 to 415, stop loss 390

Anuj Gupta Intraday Stocks for Today

3]Coal India Ltd: Buy from CMP, objective 250, stop loss 224

4]Vedanta: Buy from CMP, target 304, stop loss 284

Ravi Singh shares to buy today

5]Eicher Motors: Buy on 3470 target 3550, stop loss 3455

6]Adani Enterprises: Buy on 3225 target 3300, stop loss 3200.

Disclaimer: The opinions and recommendations made above are those of individual analysts or brokerage firms, and not of Mint.

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