The Indian stock market failed to exhibit a follow-through upside move on Monday after a dramatic upside recovery from the lows, and ended the day flat. The NSE Nifty gained 6 points to conclude at 18,109, while the BSE Sensex gained 32 points to finish at 60,718. The current market pattern, according to stock market specialists, shows the presence of critical overhead resistance at 18,150 to 18,200 levels, as well as a range bound action at the crucial overhead resistance.
Healthcare and FMCG gained the most on a day when volumes on the NSE were in line with previous averages, while metals and telecom dropped the most. The mid-cap index rose 0.41 percent, while the small-cap index fell 0.19 percent.
Trade view on NSE Nifty
“The short term uptrend of Nifty remains intact,” said Nagaraj Shetti, Technical Research Analyst at HDFC Securities, “and the current range bound activity is not confirming any pullback from the highs as of now.” Before demonstrating any upside breakout of 18,200 levels, there could be 1-2 days of range-bound action. The current level of immediate support for the NSE Nifty is 18,020.
Day trading stocks to buy today
Sumeet Bagadia, Executive Director at Choice Broking; Rohit Singre, Senior Technical Analyst at LKP Securities; Parth Nyati, Founder, Tradingo; Ravi Singhal, Vice Chairman at GCL Securities; Ravi Singh, Head of Research & Vice President at ShareIndia; and Manoj Dalmia, Founder and Director at Proficient Equities Limited — all recommended 9 stocks to buy for today’s trade session.
Sumeet Bagadia’s day trading stocks for Tuesday
1) Power Grid Corporation of India: Buy at the current market price with a goal of 195 to 200 and a stop loss of 182.
2) Cipla: Buy at CMP with a goal of 960-990 and a stop loss of 915.
Day trading stocks for Rohit Singre
3) Ashok Leyland: Buy at 150 with a target of 153-155 and a stop loss of 148.
4) Aarti Industries: Buy momentum at CMP with a target of 985-895 and a stop loss of 955.
Today’s stock pick from Ravi Singhal
5) Godrej Properties: Buy at 2330 with a goal of 2400-2444 and a stop loss of 2300.
Today’s stock choice by Parth Nyati
6) Minda Corp.: Buy around 177 with a goal of 190 and a stop loss of 172.
Today is the best time to invest in Ravi Singh’s stock
7) Glenmark Pharmaceuticals: Buy at $535 with a target of $550 and a stop loss of $531.
8) ITC: Buy at 237 with a target of 245, and a stop loss of 234
Today’s intraday stock of Manoj Dalmia
9) Torrent Power: Buy at $545 with a $558 objective and a $539 stop loss.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of The Shining Media.