Following a steep decline on Friday, the Indian stock market went into a tiny retreat rebound on Monday, closing with minor gains. The NSE Nifty 50 index rose 27 points to 17,053 points, while the BSE Sensex rose 153 points to 57,260 points. This pattern, according to stock market specialists, indicates market participants’ hesitancy following the downward correction.
IT, consumer durables, and telecom indices gained the most on a day when volumes on the NSE were higher than the previous average, while real estate, power, and oil & gas indices lost the most. The mid-cap index fell 0.93 percent, while the small-cap index fell 1.9%.
NSE Nifty today: Day trading guide
Nagaraj Shetti, Technical Research Analyst at HDFC Securities, revealed his intraday trading strategy for today “The Nifty is currently in a downtrend, and a little pullback rebound is likely in the next 1-2 sessions. At higher levels, Nifty will face significant overhead resistance between 17,200 and 17,300, signalling a sell-on-rise opportunity in the market. The NSE Nifty’s next lower support level to watch is at 16,780.”
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 Parth Nyati, Founder at Tradingo, spoke about day trading stocks for today’s session and recommended 7 stocks to buy.
Sumeet Bagadia’s day
Kotak Mahindra Bank: Buy at CMP, target ₹2080, stop loss ₹1980
TCS: Buy at CMP, target ₹3600 to ₹3650, stop loss ₹3400
Ravi Singhal’s stock of the day
Dr. Lal PathLabs: Buy at ₹3900, target ₹4200, stop loss ₹3800
Ravi Singh’s shares to buy today
ACC: Sell at ₹2300, target ₹2220, stop loss ₹2325
Amara Raja Batteries: Sell at ₹620, target ₹590, stop loss ₹635
Parth Nyati’s stock picks of the day
Godrej Consumer Products: Buy at CMP, target ₹944, stop loss ₹895
Shipping Corporation of India or SCI: Buy at CMP, target ₹158, stop loss ₹145.
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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