The strong positive momentum in the Indian stock market (trading)continued on Wednesday after a stunning rebound recovery from the lows on Tuesday. The Nifty 50 index rose 293 points to 17,469 points, while the BSE Sensex rose 1016 points to 58,649 points. The Bank Nifty index gained 666 points to settle at 37,284 points. According to stock market specialists, the recent upward movement has removed the negative sentiment that surfaced between Friday and Monday.
Real estate, metals, auto, telecom, IT, and bank indices all rose the highest on a day when volumes on the NSE were higher than the previous norm. The BSE Small-cap and Mid-cap indices lagged the Nifty by 1.4% and 1.5%, respectively.
Day trading guide for Nifty 50 today
Nagaraj Shetti, Technical Research Analyst at HDFC Securities, said, “We are unveiling our day trading advise for Thursday.” “In the last two sessions, the bulls have gained upside momentum, and the market is currently at a critical crossroads. In a short amount of time, a definitive rise above 17,550 to 17,600 levels on the NSE Nifty might open up further steep upside towards 18,000 levels. In the short term, any failure to maintain above this level is expected to spark weakness from the highs to the lows of 17,250 to 17,200 on the NSE Nifty.”
Day trading stocks to buy today
Stock market experts Sumeet Bagadia, Executive Director at Choice Broking; Ravi Singhal, Vice Chairman at GCL Securities; Ravi Singh, Head of Research & Vice President at ShareIndia; Manoj Dalmia, Founder & Director at Proficient Equities Limited; and Parth Nyati, Founder at Tradingo — listed 9 stocks to buy or sell for today’s trade session.
Sumeet Bagadia’s day trading stocks
- Hindustan Zinc: Buy at CMP, target ₹380 to ₹400, stop loss ₹340
- Glenmark Pharmaceuticals: Momentum buy at CMP, target ₹520 to ₹530, stop loss ₹494
Ravi Singhal’s stock of the day
- Bajaj Finserv: Sell around ₹17800, target ₹17017, stop loss ₹18111
Ravi Singh’s stocks to buy today
- Bharti Airtel: Buy at ₹714, target ₹735, stop loss ₹708
- DLF: Buy at ₹396, target ₹410, stop loss ₹392
Manoj Dalmia’s day trading stocks for Thursday
- Polyplex: Buy at ₹2002, target ₹2370, stop loss ₹1903
- Gufic BioSciences: Buy at ₹222, target ₹259, stop loss ₹209
Parth Nyati’s stock picks for Thursday
- Sundram Fasteners: Buy at ₹868, target ₹900, stop loss ₹850
- Biocon: Buy around ₹383, target ₹393, stop loss ₹377.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of The Shining Media.