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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