Day Trading Guide for Friday: 8 Stocks to Buy or Sell Today – April 22
Today’s trading guide for Friday: On the back of strong global signals and a drop in institutional selling, the Indian stock market ended in green territory for the second consecutive session on Thursday. The Nifty 50 index ended up 1.49% at 17,392 while BSE Sensex gained 1.53% and closed at 57,911 levels. The Nifty Bank Index jumped 501 points or 1.38% and closed at 36,816 levels. Volumes on the NSE continued to be below the recent average for the second straight session, suggesting less pressure on REIT sales. Among the sectors; the auto, IT, banking and healthcare indices rose the most while the metals index ended slightly negative.
Stock market experts say the expected decline ratio has risen smartly well above 1:1, but Small and Midcap index gains are still lagging behind large caps, suggesting a shift in interest trade to large caps. They said Nifty formed an “Inside Bar” reversal pattern on Wednesday and a move above 17,275 confirmed the trend reversal.
Daily trading guide for the stock market today
Speaking on the intraday trading strategy as it relates to Nifty today; Ruchit Jain, Lead Research, 5paisa.com said: “Nifty had formed an ‘Inside Bar’ reversal pattern on Wednesday and a move above 17,275 confirmed the trend reversal. bullish trend after the completion of a corrective phase and the broader markets also participated in the upside throughout the session.Alongside the price rise, some oscillators are also indicating positive momentum and therefore we expect a continuation of the short-term trend All sector indices (except Media) ended in the green and most of them recorded gains of 1-2%. In recent sessions, Nifty’s support base has increased and 17,270 will now be seen as immediate support.Traders should look for opportunities to buy in intraday declines and trade with a positive bias.On the higher side, CIBs near-term potentials are around 17,470 and 17,620.”
Echoing the views of Ruchit Jain; Nagaraj Shetti, Technical Research Analyst, HDFC Securities, said: “Nifty’s short-term trend continues to be positive. A sustained move above immediate resistance at the 17,450-17,500 levels could open the next few levels to the upside around 17,800-18,000 levels in the near term for Nifty.”
Day trading stocks
Share Intraday Stocks for Today, Stock Market Experts – Sumeet Bagadia, Executive Director at Choice Broking; Mehul Kothari, AVP – Technical Research, Anand Rathi Shares & Stock Brokers; Rahul Sharma, director of research at Equity 99; Anuj Gupta, Vice President – Research at IIFL Securities and Avinash Gorakshkar, Head of Research at Profitmart Securities – recommended these 8 stocks to buy today.
Sumeet Bagadia Day Trading Stocks to Buy Today
1]Divi’s Lab: Buy from CMP, target ₹4650 to ₹4700 stop-loss ₹4450
2]Kotak Mahindra Bank: Buy from CMP, objective ₹1800 to ₹1825, stop-loss ₹1725
Mehul Kothari Intraday Stocks for Today
3]Bandhan Bank: Momentum buy at CMP, objective ₹350, stop loss ₹325
4]DLF: Buy from CMP, objective ₹405, stop loss ₹380
Avinash Gorakshkar’s stock of the day
5]State Bank of India or SBI: Buy from CMP, objective ₹540, stop loss ₹503
Anuj Gupta’s stock pick for today
6]Renuka Sugars: Buy from CMP, objective ₹62, stop loss ₹47
Rahul Sharma shares to buy today
7]Tata Motors: Shop Around ₹448 target ₹462, stop loss ₹440
8]Maheshwari Logistics: shop around ₹101 target ₹112, stop loss ₹97.
Warning: The opinions and recommendations made above are those of individual analysts or brokerage firms, and not of Mint.