Day trading guide for Monday: 8 stocks to buy or sell today — 11th July

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Day trading guide for Monday, 11th July 2022: Driven by big upside in banking, FMCG and realty stocks, Indian stocks ended in green zone on third successive week on Friday. Nifty 50 index surged 88 points on Friday and closed at 16,221 levels, logging 3 per cent rise from the previous week. Volatility index India VIX ended at 18.40 down by 4 per cent. The BSE Sensex surged by 303 points to 54,482 mark, logging near 3 per cent weekly gains. Nifty Bank rallied 204 points and finished Friday’s session at 35,124 mark.

According to stock market experts, a small negative candle was formed at the highs on the daily chart with minor lower shadow. Technically, this pattern signal a continuation of upside momentum in the market. The two back to back unfilled opening upside gaps of the last two sessions indicate positive outlook for the market ahead.

Day trading guide for stock market today

“The short term trend of Nifty continues to be positive. Having sustained above the crucial hurdle at 16170 levels, there is a possibility of Nifty moving towards the next upside resistance of 16500 levels by next week. Immediate support is placed around 16150-16100 levels,” said Nagaraj Shetti, Technical Research Analyst at HDFC Securities.

Expecting banking and FMCG stocks to outperform other indices, Ruchit Jain, Lead Research at 5paisa.com said, “Amongst sectoral indices, the banking index has continued its outperformance and has taken the leadership along with the FMCG stocks to lift the markets higher. The structure for both these sectors remains positive and hence, traders should look for trading opportunities within these sectors. The Midcap 100 index could approach its ‘200 DEMA’ resistance which is around 28270 and hence, stock specific opportunities can be picked there too.”

Day trading stocks

Sharing intraday stocks for today, stock market experts — Sumeet Bagadia, Executive Director at Choice Broking; Avinash Gorakshkar, Head of Research at Profitmart Securities; Mehul Kothari, AVP — Technical Research at Anand Rathi and Rajesh Bhosale, Technical Analyst at Angel One — recommended 8 stocks to buy today.

Sumeet Bagadia’s intraday stocks to buy today

1] NTPC: Buy at CMP, target 150 to 155, stop loss 139

2] Sun Pharma: Buy at CMP, target 875 to 880, stop loss 840

Avinash Gorakshkar’s stock picks for Monday

3] TVS Motor: Momentum buy at CMP, target 875, stop loss 820

4] DLF: Buy at CMP, target 368, stop loss 325

Mehul Kothari’s day trading stocks to buy

5] Bharat Dynamics: Buy around 715, target 735, stop loss 700

6] Tata Steel: Buy around 886, target 920, stop loss 865

Rajesh Bhosale’s shares to buy today

7] Nippon Life India Asset Management or NAM-India: Buy around 287.55, target 303, stop loss 278.80

8] City Union Bank or CUB: Buy around 144.85, target 153, stop loss 140.80.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.

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