Day trading guide for Wednesday: The weakness with range-bound trend continued at the Indian stock market on Tuesday as the NSE Nifty ended 78 points lower at 15,746 levels while the BSE Sensex shed 273 points and closed at 52,578 mark. Bank Nifty also ended in the red zone losing 152 points on Tuesday. The choppy trend is expected to continue in today's stock market opening bell as SGX Nifty has opened with a downside gap of 35 points and the US markets, especially Dow Jones ended Tuesday after losing around 0.24 per cent.
However, on yesterday, volumes on the NSE expanded compared to the recent averages. Metals sector was the sole gainer as the Chinese government’s latest move to curb domestic production and tame surging prices was expected to aid India’s steel mills and Novelis gave an encouraging guidance benefitting Hindalco’s stock price, while Power and Healthcare stocks came under selling pressure.
Speaking on day trading guide for Wednesday; Nagaraj Shetti, Technical Research Analyst at HDFC Securities said, "The weakness with choppy trend continued in the Nifty and still there is no respite for bulls at the lows. The chart pattern of daily and weekly signal a possibility of an upside bounce in the market from the lows of around 15,650 to 15,680 levels in the next 1-2 sessions. On the higher side 15,900 remains overhead hurdle for the near term."
Day trading stocks to buy today
On the basis of these facts and figures, stock market experts — Sumeet Bagadia, Executive Director at Choice Broking; Jay Thakkar VP and Head of Equity Research at Marwadi Shares and Finance; Mudit Goel, Senior Research Analyst at SMC Global Securities; Sandeep Matta, Founder at TRADEIT Investment Advisors and Kapil Goenka, Director at C M Goenka Stock Brokers — have recommended following shares to buy today.
Sumeet Bagadia's day trading stocks to buy today
1] Hindalco Industries: Buy at ₹415, target ₹430 to ₹440, stop loss ₹403
2] Bajaj Finserv: Buy at ₹13800, target ₹14200 to ₹14500, stop loss ₹13500
Jay Thakkar's shares to buy today
3] Graphite India: Buy at CMP ₹697, target ₹744, stop loss ₹674
4] Bombay Burmah Trading Corporation or BBTC: Buy at ₹1275, target 1350, stop loss 1235
Mudit Goel's stock of the day
5] Infosys: Buy at CMP, target ₹1620, stop loss ₹1590
Day trading guide by Sandeep Matta
6] ITD Cementation India: Buy at ₹86, target ₹90 to ₹94, stop loss ₹78
7] CEAT: Buy at ₹1330, target ₹1400 ₹1450, stop loss ₹1262
Trade view by Kapil Goenka
8] NIIT: Buy at ₹308, target ₹320, stop loss ₹299.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.
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Day trading guide for Wednesday: 8 stocks to buy or sell today — 28 July - Mint
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