2 min read . Updated: 08 Oct 2021, 06:56 AM IST Edited By Asit Manohar
- Day trading guide: A breach of Thursday’s high i.e. 17,858 levels could lead to further upward move in the markets, believe experts
Day trading guide for Friday: Indian stock market rebounded on Thursday after the sell-off seen on the previous trade session. NSE Nifty closed 144 points higher at 17,790 whereas BSE Sensex shot up 488 points and closed at 59,677 levels. Bank Nifty index gained 231 points and closed at 37,753 levels.
On a day when the volumes on the NSE were a little above recent average; realty, consumer durables and auto indices gained the most while oil & gas and telecom were the two indices that ended in the negative.
Trade view on NSE Nifty
Unveiling intraday trading strategy in regard to Nifty; Deepak Jasani, Head of Retail Research, HDFC Securities said, “Nifty formed a doji, which is appearing within the high low range of the previous day. Hence, this pattern does not have any predictive ability. A breach of Thursday’s high i.e. 17,858 levels could lead to further upward move in the markets. 17,641 happen to be the support for the Nifty in the near term.”
Speaking on what market can expect from today’s RBI monetary policy committee meeting; Arijit Malakar, Head Research (Retail) at Ashika Stock Broking Ltd said, “Central bank is likely to keep interest rates unchanged and may retain the accommodative stance. Strong Q2FY22 business updates from corporate and banks indicate healthy earnings growth for corporate India in the 2nd quarter that will aid in sustaining the premium valuation for Indian markets in the coming time.”
Day trading stocks to buy today
Sharing intraday trading stocks’ list for today, stock market experts — Sumeet Bagadia, Executive Director at Choice Broking; Dr Ravi Singh, Head of Research & Vice President at Share India and Manoj Dalmia, Director & Founder, Proficient Equities Private Limited — recommended 5 shares to buy today.
Sumeet Bagadia’s intraday trading stocks’ list
1] Escorts: Buy at CMP, target ₹1550 to ₹1570, stop loss ₹1475
2] Lemon Tree Hotels: Momentum buy at CMP, target ₹55 to ₹60, stop loss ₹47
Ravi Singh’s stocks to buy today
3] ICICI Bank: Buy around ₹702, target ₹715, stop loss ₹695
4] Hindalco Industries: Buy at ₹477, target ₹488, stop loss ₹474
Manoj Dalmia’s stock of the day
5] Aban Offshore: Buy at ₹54, target ₹61, stop loss ₹51.50.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.
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