Day trading guide for Friday: On account of strong buying in IT, banking, consumer durable and realty stocks, Indian stock market ended in positive zone on Thursday session. Nifty 50 index ended 124 points northward at 17,659 whereas BSE Sensex gained 515 points and closed at 59,332 mark. Nifty Bank index surged 592 points and finished at 38,879 levels. Broad market indices like small-cap and mid-cap underperformed the Nifty rising 0.28 per cent and 0.31 per cent respectively. However advance-decline ratio was positive at 1.25.
According to stock market experts, Nifty Future trend of making higher highs and higher lows, is definitely a big boost to the bulls rally likely to continue for days to come now.
Day trading guide for stock market today
“Nifty showed some signs of sell-on-news as the morning gains could not be sustained. There are no new data points on the horizon which can impact the Nifty in the near term. We are getting close to end of results season and hence micro moves may also be fewer and far between from now on. Given the upward momentum, Nifty could now rise to 17,779 to 17,842 band in this upside move,” Deepak Jasani, Head of Retail Research at HDFC Securities.
Day trading stocks
Unveiling intraday stocks for today, stock market experts — Anuj Gupta, Vice President — Research at IIFL Securities; Mehul Kothari, AVP — Technical Research at Anand Rathi and Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher — listed out 6 stocks to buy today.
Anuj Gupta’s intraday stocks for today
1] PC Jeweller: Buy at CMP, target ₹70, stop loss ₹48
2] Ashok Leyland: Buy at CMP, target ₹155, stop loss ₹138
Mehul Kothari’s stocks to buy today
3] Axis Bank: Buy around ₹759, target ₹785, stop loss ₹743
4] M&M: Buy around ₹1268, target ₹1320, stop loss ₹1220
Vaishali Parekh’s stocks to buy today
5] Intellect Design: Buy around ₹618, target ₹640, stop loss ₹608
6] Zydus Lifesciences: Buy around ₹381.50, target ₹400, stop loss ₹370.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.
