Wednesday, May 31, 2023
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Day Trading Guide for Friday

The Indian stock market (trading) swung into consolidation on Thursday after a significant upward rise in the previous two sessions. The NSE Nifty 50 rose 47 points to settle at 17,516 points, while the BSE Sensex rose 157 points to close at 58,807 points. These patterns, according to stock market specialists, point to the possibility of a slight downward correction or consolidation in the ensuing session.

Capital goods, telecom, and FMCG indices rose the most on a day when volumes on the NSE were in line with recent averages, while banks and consumer durables indices sank the most. The BSE Small-cap index increased by 0.80%, while the BSE Mid-cap index increased by 0.38 percent.

Today’s Nifty Day Trading Guide

Nagaraj Shetti, Technical Research Analyst at HDFC Securities, revealed intraday trading advice for today’s session “Nifty’s short-term uptrend is still intact. There is a probability that the NSE Nifty will consolidate or show mild weakness in the next 1-2 days before demonstrating a significant upside breakout of the 17,550 to 17,600 level obstacle. The NSE Nifty has immediate support at 17,380 levels.”

Day trading stocks to buy today

Sumeet Bagadia, Executive Director at Choice Broking; Ravi Singhal, Vice Chairman at GCL Securities; Ravi Singh, Head of Research & Vice President at ShareIndia; and Manoj Dalmia, Founder & Director at Proficient Equities Limited — listed six day trading stocks to buy or sell for today’s trade session.

Sumeet Bagadia’s day trading stocks

  • Pidilite Industries: Buy at CMP, target 2320 to 2350, stop loss 2210
  • Ircon International: Buy at CMP, target 54, stop loss 44

Ravi Singhal’s stock of the day

  • Kotak Mahindra Bank: Sell at CMP, target 1877 to 1844, stop loss 1931

Ravi Singh’s day trading stocks for today

  • TVS Motor: Buy at 684, target 705, stop loss 675
  • Indian Energy Exchange or IEX: Buy at 268, target 285, stop loss 265

Manoj Dalmia’s day trading stock to buy

  • Gravita India: Buy at 237, target 249, stop loss 232

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

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