Day trading guide for Friday: Indian benchmark indices touched another record high even as the broader markets improved on Thursday. Mid-cap and small-cap stocks rebound smartly after a painful period whereas Nifty and Sensex also closed at a record high after hitting new highs of 16,375 and 54,874 respectively. NSE Nifty appreciated 0.50 per cent and closed at 16,364 while BSE Sensex went up 318 points and closed at 54,843 levels. In the global markets, Wall Street ended in green zone as Dow Jones nudged 0.04 per cent north while Nasdaq added 0.35 per cent.
Trade view on Nifty
Speaking on day trading guide for Friday; Nagaraj Shetti, Technical Research Analyst at HDFC Securities said, The short-term uptrend status of Nifty remains intact with range bound action. The overall chart pattern of Nifty and the positive reversal in broad market indices could hint at a possibility of an upside breakout of the small range in Nifty in coming sessions. The next upside levels to be watched at 16,500 and immediate support is placed at 16,290 levels.
Day trading stocks to buy today
Speaking on the day trading strategies; stock market experts — Sumeet Bagadia, Executive Director at Choice Broking; Mudit Goel, Senior Research Analyst at SMC Global Securities and Santosh Meena, Head of Research at Swastika Investmart Ltd — recommended 6 shares to buy today.
Sumeet Bagadias day trading stocks
1] Tata Motors: Momentum buy at CMP, target ₹325 to ₹330, stop loss ₹295
2] NTPC: Buy at CMP, target ₹122 to ₹125, stop loss ₹114
Mudit Goelss share to buy today
3] Wipro: Buy at CMP, target ₹620, stop loss ₹598
Santosh Meenas stocks to buy today
4] Larsen & Toubro: Buy at ₹1627, target ₹1685, stop loss ₹1585
5] Tata Power: Buy at ₹133.65, target ₹139, stop loss ₹129.50
6] IGL: Buy at ₹536.40, target ₹545, stop loss ₹530.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.
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