Day trading guide for Monday: After highly volatile sessions last week, we have a truncated week ahead due to holidays on Thursday and Friday on the occasion of Dr. Baba Saheb Ambedkar Jayanti and Good Friday respectively. In this week, earning season will kick off with IT major TCS results announcement today. Rakesh Jhunjhunwala-backed Delta Corp Q4 results is also coming today. So, a lot of corporate action is expected this week and hence those traders who follow stock specific trade, will have a lot of news flow this week.
Apart from earnings, global cues, crude oil prices and FIIs’ flow will play an important role in the direction of the market.
Day trading guide for stock market today
Speaking on day trading guide for Nifty today; Santosh Meena, Head of Research, Swastika Investmart Ltd said, “Technically, the Nifty 50 index is facing resistance near the 18,100 level. However, 17600 to 17400 is a critical demand zone at Nifty. If Nifty manages to breach 18,100 hurdle, then we can expect further rally in the 50-stock index towards 18,350 to 18,500 levels. Bank Nifty is also pausing after a big move where 37,500 to 36,700 is a critical demand zone where we can expect fresh buying. On the upside, 38,500 to 39000/39500 are important resistance levels.”
“If we look at the derivative data then FIIs’ long exposure in index future stands at 69% whereas the put-call ratio is sitting at 1.01 level which is neutral to positive for the market,” Santosh Meena concluded.
Day trading stocks
Sharing day trading stocks for today, stock market experts — Sumeet Bagadia, Executive Director at Choice Broking; Rajesh Bhosale, Technical Analyst at Angel One Ltd; Rohit Singre, AVP-Research at Bonanza Portfolio; Anuj Gupta, Vice President — Research at IIFL Securities and Avinash Gorakshkar, Head of Research at Profitmart Securities — recommended 8 stocks to buy today.
Sumeet Bagadia’s day trading stocks to buy today
1] Dabur: Buy at CMP, target ₹575 to ₹580, stop loss ₹541
2] Tata Consumer: Buy at CMP, target ₹840 to ₹850, stop loss ₹800
Rajesh Bhosale’s stock pick for today
3] SRF: Buy around ₹2750, target ₹2870, stop loss ₹2684
Rohit Singre’s stock of the day
4] Mahindra & Mahindra Finance: Buy at CMP, target ₹180, stop loss ₹172
Anuj Gupta’s stocks to buy today
5] Tata Motors: Buy at CMP, target ₹490, stop loss ₹428
6] Ashok Leyland: buy at CMP, target ₹143, stop loss ₹118
Avinash Gorakshkar’s intraday stocks for today
7] ITC: Buy at CMP, target ₹283, stop loss ₹260
8] Mahindra & Mahindra: Buy at CMP, target ₹900, ₹835.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.
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