Day Trading Guide For Friday: 8 Stocks To Buy Or Sell Today — 22nd April | Mint – Mint

Day trading guide for Friday: On account of strong global cues and lower institutional selling, Indian stock market ended in green territory for second successive session on Thursday. Nifty 50 index ended 1.49 per cent up at 17,392 whereas BSE Sensex gained 1.53 per cent and closed at 57,911 levels. Nifty Bank index surged 501 points or 1.38 per cent and closed at 36,816 levels. Volumes on the NSE continued to be lower than recent average for the second consecutive session suggesting lower pressure of FPI sales. Among sectors; auto, IT, banks and healthcare indices rose the most while metals index ended marginally in the negative.

According to stock market experts, advance decline ratio rose smartly to much above 1:1 but the Small and Midcap indices gains are still lagging those of the large-caps, suggesting shift of trading interest to large-caps. They said that Nifty had formed an ‘Inside Bar’ reversal pattern on Wednesday and a move above 17,275 gave a confirmation of trend reversal.

Day trading guide for stock market today

Speaking on intraday trading strategy in regard 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 gave a confirmation of trend reversal. Thus the Nifty resumed its uptrend post completion of a corrective phase and the broader markets too participated in the up move throughout the session. Along with the price up move, certain oscillators are also indicating a positive momentum and hence we expect a continuation of the trend in the short term. All the sectoral indices (except media) ended in the green and most of them witnessed gains of 1-2 percent. With the price up move in last couple of sessions, the support base for Nifty has moved higher and 17,270 will now be seen as immediate support. Traders should look for buying opportunities in intraday declines and trade with a positive bias. On the higher side, the potential near term targets are seen around 17,470 and 17,620.”

Echoing with Ruchit Jain’s views; Nagaraj Shetti, Technical Research Analyst, HDFC Securities said, “The short term trend of Nifty continuous to be positive. A sustainable move above the immediate resistance of 17,450 to 17,500 levels could open the next upside levels of around 17,800 to 18,000 levels in the near term for Nifty.”

Day trading stocks

Sharing 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, Research Head 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’s day trading stocks to buy today

1] Divi’s Lab: Buy at CMP, target 4650 to 4700, stop loss 4450

2] Kotak Mahindra Bank: Buy at CMP, target 1800 to 1825, stop loss 1725

Mehul Kothari’s intraday stocks for today

3] Bandhan Bank: Momentum buy at CMP, target 350, stop loss 325

4] DLF: Buy at CMP, target 405, stop loss 380

Avinash Gorakshkar’s stock of the day

5] State Bank of India or SBI: Buy at CMP, target 540, stop loss 503

Anuj Gupta’s stock pick for today

6] Renuka Sugars: Buy at CMP, target 62, stop loss 47

Rahul Sharma’s stocks to buy today

7] Tata Motors: Buy around 448, target 462, stop loss 440

8] Maheshwari Logistics: Buy around 101, target 112, stop loss 97.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.

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