Day trading guide for Wednesday: 6 stocks to buy or sell today — 1st June

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Day trading guide for Wednesday: After showing a sharp upside move on Monday, Indian stock market shifted into a consolidation zone with weak bias on Tuesday session. Nifty 50 ended 76 points lower at 16,584 levels whereas BSE Sensex shed 359 points and closed at 55,566 mark. Nifty Bank dipped 339 points and closed at 35,487 levels. 

According to stock market experts, market has failed to sustain the upside recovery. They went on to add that current market pattern indicates cooling off of the up trend post sharp upside move, which could be considered as a temporary halt in the upside momentum.

Day trading guide for stock market today

Speaking on day trading guide for Nifty today, Nagaraj Shetti, Technical Research Analyst at HDFC Securities said, “The near term uptrend status of Nifty remains intact. The present consolidation movement or minor downward correction could continue for the next 1-2 sessions, which is likely to prepare a base for another round of sharp upside move in Nifty for the near term. The next upside levels for NSE Nifty to be watched around 16,900 to 17,000 levels.”

Day trading stocks

Sharing intraday stocks for today, stock market experts — Sumeet Bagadia, Executive Director at Choice Broking; Rohit Singre, AVP — Technical Research at Bonanza Portfolio and Ravi Singh, Vice President & Head of Research at Share India Securities — recommended 6 stocks to buy today.

Sumeet Bagadia’s intraday stocks for today

1] JSW Steel: Momentum buy at CMP, target 570 to 580, stop loss 530

2] Tech Mahindra: Buy at CMP, target 1225, stop loss 1150

Rohit Singre’s day trading stocks to buy today

3] Bharat Forge: Buy at CMP, target 750, stop loss 685

4] Arvind Fashions: Buy at CMP, target 277, stop loss 260

Ravi Singh’s stocks to buy today

5] Coal India: Buy around 193, target 200, stop loss 190

6] GAIL: Buy around 147, target 152, stop loss 145.

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

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