The Indian stock market reverted abruptly on Friday after a big positive rally on Thursday, closing in the red zone. The Nifty-50 Index plummeted 204 points to settle at 17,196, while the BSE Sensex plummeted 764 points to close at 57,696. The Bank Nifty was also down 311 points, closing at 36,197. According to market analysts, the recent bullish rebound of the last few trading sessions appears to have ended, and the market has begun to decline from its highs.
Day Trading Guide for Nifty-50
Nagaraj Shetti, Technical Research Analyst at HDFC Securities, revealed the intraday trading plan for Monday “Nifty’s near-term trend remains down, and the recent retreat rebound in a downtrend appears to have ended. The NSE Nifty could fall to 16,800 levels next week as a result of additional deterioration. Nifty-50 faces immediate resistance between 17,300 and 17,350.”
Day trading stocks to buy today
Stock market gurus Sumeet Bagadia, Executive Director at Choice Broking; Ravi Singhal, Vice Chairman at GCL Securities; Manoj Dalmia, Founder & Director at Proficient Equities Limited; and Parth Nyati, Founder at Tradingo — shared their picks for today’s day trading equities.
Sumeet Bagadia’s day trading stocks
- United Phosphorus Ltd or UPL: Buy at CMP, target ₹725 to ₹730, stop loss ₹700
- NMDC: Momentum buy at CMP, target ₹150 to ₹155, stop loss ₹140
Ravi Singhal’s stock of the day
- Bajaj Finserv: Sell around ₹17,500, target ₹17,000, stop loss ₹17,777
Manoj Dalmia’s stock pick of the day
- Jindal Poly Films: Buy at ₹1102, target ₹1244, stop loss ₹1044
Parth Nyati’s day trading stocks for today
- Clean Science and Technology or CLEAN: Buy at CMP, target ₹2600, stop loss ₹241
- Aegis Logistics: Buy at around ₹247.50, target ₹255, stop loss ₹242.75.
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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