Tuesday, May 30, 2023
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Day Trading Guide for Wednesday

Following a sharp drop (day trading) on Monday, the Indian stock market made a strong return on Tuesday, closing the day in the green. The Nifty-50 index gained 264 points to settle at 17,176, while the BSE Sensex gained 886 points to close at 57,633. The Bank Nifty index, meanwhile, gained 882 points to settle at 36,618. Stock market specialists believe that the present trade pattern signals the construction of an inside day type formation, which might have a beneficial impact in the following sessions.

The NSE’s volume was lower than the recent norm. There were no sectoral losers, with real estate, metals, and banking leading the gainers. The BSE Mid-cap and Small-cap indices both rose 1.1 percent and 1.3 percent, respectively, underperforming marginally.

Day trading guide for Nifty today

Nagaraj Shetti, Technical Research Analyst at HDFC Securities, revealed the intraday trading plan for today’s session “Bulls may be encouraged by the significant upside bounce in Tuesday’s session as they attempt to recover from the lows. However, the current uptick in price could be fleeting, and selling pressure could emerge from the critical overhead resistance of 17,550 to 17,600 on the NSE Nifty in the near future.”

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 — shared day trading stocks to buy today for today’s trade session.

Sumeet Bagadia’s day trading stocks

  • Federal Bank: Buy at CMP, target 93 to 95, stop loss 87
  • Hindalco Industries: Buy at CMP, target 460 to 470, stop loss 421

Ravi Singhal’s stock of the day

  • Bajaj Finserv: Buy at CMP, target 17500 to 17750, stop loss 16999

Parth Nyati’s day trading stocks for today

  • ICICI Bank: Buy at CMP, target 747, stop loss 728
  • Ashok Leyland: Buy at 122.50, target 126, stop loss 120

Ravi Singh’s stock pick of the day

  • Torrent Power: Buy at 580, target 605, stop loss 570

Manoj Dalmia’s intraday stocks for today

  • Ramky Infrastructure: Buy around 211, target 233, stop loss 198
  • Oricon Enterprises: Buy at 36.50, target 44, stop loss 33.50.

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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