Day trading guide for Thursday: After witnessing weakness at higher levels on Tuesday, the NSE Nifty shifted into a sustainable up move amidst a range-bound movement on Wednesday and closed 61 points higher from its Tuesday close. According to stock market experts, this pattern indicates a counter attack of bulls from the lower levels. Hence, the current market action signals negation of bearish implication. A sustainable move above 15,915 could entirely nullify the bearish effect and that could open more upside in the short term.
However, volumes on the NSE were below recent averages. Among sectors, Realty and Metals gained the most while Oil & Gas, Consumer Durables and Energy fell the most. BSE mid-cap and small-cap indices ended marginally in the green.
Therefore, amidst bulls in counter attacking mood, market experts are expecting rise in the volume. They have suggested the following 5 stocks to buy today while sharing their day trading guide for traders and investors.
Speaking on shares to buy today Sumeet Bagadia, Executive Director at Choice Broking said, “Today’s day trading guide for bulls suggest buying in SAIL and BHEL stocks.”
1] SAIL: Buy at ₹128, target ₹140 to ₹150, stop loss ₹121
2] BHEL: Buy at ₹67, target ₹72 to ₹75, stop loss ₹64
On day trading tips for stock market today Rohit Singre, Senior Technical Analyst at LKP Securities said, “Granules India and Garware Technical Fibres are the stocks to buy today.”
3] Granules India: Buy at CMP, target ₹350 to ₹355, stop loss below ₹337
4] Garware Technical Fibres: Buy at CMP, target ₹3450 to ₹3500, stop loss below ₹3350
On his day trading guide for Thursday market Sandeep Matta, Founder at TRADEIT Investment Advisors said, “My stock pick of the day is Canara Bank and I advise traders and investors to buy this banking stocks when the market opens today.”
5] Canara Bank: Buy at ₹154, target ₹163 to ₹165, stop loss ₹148.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.
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