Day trading guide for Tuesday: After showcasing range-bound movement in last few trade sessions, Indian stock market witnessed a decent upside move on Monday. NSE Nifty rose 151 points and closed at 18,068 levels while BSE Sensex went up 477 points and closed at 60,545 levels. According to stock market experts, current market pattern indicates an upside bounce from the lows and an attempt of upside breakout of the range movement around 18,050 to 18,100 levels. This is a positive indication and one may expect further upside in the short term.
On a day when the volumes on the NSE were a little higher than the recent averages; realty, power, oil & gas and consumer durables indices rose the most while healthcare index fell the most. Small-cap and Mid-cap indices rose between 0.78 per cent to 1.2 per cent.
Trade view on Nifty
Unveiling intraday trading tips for Tuesday; Subash Gangadharan, Senior Technical and Derivative Analyst, HDFC Securities said, “The short term trend of Nifty is positive. Upside breakout of the current range at 18,060 to 18,100 levels could open further upside towards the next resistance of 18,250 to 18,350 levels in the next few sessions. Immediate support for NSE Nifty is placed at 17,850 levels.”
Day trading stocks for today
Speaking on intraday stocks for today, stock market experts — Sumeet Bagadia, Executive Director at Choice Broking; Mudit Goel, Senior Research Analyst at SMC Global Securities; Rohit Singre, Senior Technical Analyst at LKP Securities; Santosh Meena, Head of Research, Swastika Investmart; Ravi Singhal, Vice Chairman at GCL Securities; Ravi Singh, Head of Research & Vice President, ShareIndia and Manoj Dalmia, Founder and Director, Proficient Equities Limited — recommended 9 stocks to buy today.
Sumeet Bagadia’s intraday stocks for today
1] Kotak Mahindra Bank: Buy at CMP, target ₹2220, stop loss ₹2050
2] BPCL or Bharat Petroleum Corp Ltd: Buy at CMP, target ₹450, stop loss ₹421
Mudit Goel’s stock of the day
3] Tata Motors: Buy at CMP, target ₹515, stop loss ₹494
Rohit Singre’s shares to buy today
4] MCDOWELL-N or United Spirits: Buy at around ₹1000, target ₹1015 to ₹1030, stop loss ₹990
5] Metropolis Healthcare: Buy at ₹3140, target ₹3200 to ₹3250, stop loss below ₹3100
Santosh Meena’s day trading stock for Tuesday
6] Vedanta: Buy at ₹324.75, target ₹332.50, stop loss ₹318.50
Ravi Singhal’s intraday share for today
7] Cholamandalam Investment and Finance Company or Chola Finance: Buy at ₹638, target ₹670, stop loss ₹629
Ravi Singh’s day trading stock for Tuesday
8] Bharat Electronics Ltd or BEL: Buy at ₹214, target ₹222, stop loss ₹211
Manoj Dalmia’s share for today
9] Usha Martin: Buy at ₹96.60, target ₹108, stop loss ₹92.40.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.
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