December 8, 2022

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Day Trading Guide for Tuesday

Following a steep decline on Friday, the Indian stock market went into a tiny retreat rebound on Monday, closing with minor gains

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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