Day trading stocks: The downside momentum continued in Indian stock market for the second consecutive session on Wednesday. NSE Nifty went down 100 points and closed at 17,898 levels whereas BSE Sensex shed 314 points and closed at 60,008 levels. According to stock market experts, current market pattern indicates sell on rise opportunity and the weakness seems to have gathered strength in the last couple of sessions.
On a day when the volumes on the NSE were in line with recent averages; auto & power indices jumped the most while realty, oil & gas and telecom indices fell the most. Mid-cap index ended lower by 0.21 per cent, while small-cap index closed flat.
Trade view on Nifty
Unveiling day trading guide for today; Nagaraj Shetti, Technical Research Analyst at HDFC Securities said, “The short term trend of Nifty is down and the bears have started to participate actively in the market. The next important support for bulls at NSE Nifty is around 17,750 and a move below this area is likely to open sharp weakness in the near term. Minor upside bounce in Nifty from the lower support is not ruled out in the short term.”
Day trading stocks to buy today
Sharing intraday stocks for today, stock market experts — Sumeet Bagadia, Executive Director at Choice Broking; Parth Nyati, Founder, Tradingo; Ravi Singhal, Vice Chairman at GCL Securities and Ravi Singh, Head of Research & Vice President at ShareIndia — recommended 6 shares to buy today.
Sumeet Bagadia’s day trading stocks for today
1] Asian Paints: Buy at CMP, target ₹3350 to ₹3400, stop loss ₹3140
2] Tech Mahindra: Buy at CMP, target ₹1650 to ₹1675, stop loss ₹1580
Ravi Singhal’s stock of the day
3] Birlasoft: Buy at ₹475, target ₹500, stop loss ₹466
Ravi Singh’s stock pick for Thursday
4] Thyrocare Technologies: Buy at ₹1210, target ₹1240, stop loss ₹1190
Ravi Singh’s shares to buy today
5] Hindustan Zinc: Buy at ₹332.65, target ₹343, stop loss ₹326
6] Greaves Cotton: Buy at ₹149.50, target ₹160, stop loss ₹143.50.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.
Never miss a story! Stay connected and informed with Mint. Download our App Now!!