Day trading guide for Monday: The NSE Nifty witnessed upside move for back to back 2nd session on Friday, post minor negative pattern on 1st September (Wednesday last week) and closed the day higher by 89 points at 17,323 levels. The BSE Sensex appreciated 277 points on Friday and closed at 58,129 levels. According to experts, the 50-stock index registered a new all time high at 17,340 levels on Friday and closed near the intraday highs, which indicate a sharp upside trend continuation pattern. They said that Nifty on the weekly chart has witnessed a sharp upside breakout of narrow range movement of the last three weeks. This is positive indication and one may expect intraday volatility at the higher levels in upcoming trade sessions this week.
Trade view on Nifty
Speaking on intraday trading tips for today; Nagaraj Shetti, Technical Research Analyst at HDFC Securities said, “The short-term trend for Nifty continues to be positive and the upside momentum is at its high. There is a possibility of further upside movement in Nifty for this week towards 17,500 to 17,600 levels. The crucial support for NSE Nifty is placed around 17,260 and 17,200 levels respectively.”
Day trading stocks to buy
Sharing the intraday stocks for today, stock market experts — Sumeet Bagadia, Executive Director at Choice Broking; Sandeep Matta, Founder, TRADEIT Investment Advisors; Kapil Goenka, Founder, Eternity Financial Services; Manoj Dalmia, Director and Founder at Proficient Equities; Mudit Goel, Senior Research Analyst at SMC Global Securities and Rohit Singre, Senior Technical Analyst at LKP Securities — recommended 9 intraday shares to buy today.
Sumeet Bagadia’s intraday shares to buy today
1] HDFC AMC: Buy at CMP, target ₹3250 to ₹3300, stop loss ₹3075
2] DEN Networks: Buy at ₹49, target ₹55, stop loss ₹47
Sandeep Matta’s day trading stocks to buy
3] SAIL: Buy at ₹122, target ₹135, stop loss ₹115
4] NMDC: Buy above ₹155, target ₹170, stop loss ₹145
Kapil Goenka’s stock pick for Monday
5] Reliance Power: Buy at ₹12, target ₹16, stop loss ₹10
Manoj Dalmia’s stock of the day
6] BPCL: Buy at ₹491, target ₹544, stop loss ₹477
Mudit Goel’s intraday stock for today
7] Coal India Ltd: Momentum buy at CMP, target ₹155. Stop loss ₹144
Rohit Singre’s day trading stocks for today
8] Titan Company: Buy at ₹2016, target ₹2050 to ₹2070, stop loss below ₹1995
9] Mahanagar Gas Ltd or MGL: Buy at CMP, target ₹1200, stop loss ₹1140.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.
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