PremiumDay trading guide for Thursday: After topsy-turvy trade for the entire session, Indian markets finally ended in the red zone on Wednesday. The NSE Nifty went off 37 points and closed at 15,709 mark while the BSE Sensex shed 135 points and closed at 452,443 levels. Amidst volumes that were lower than the previous day and slightly higher than recent averages, Metal and telecom stocks gained while Auto and realty sectors fell.
As the US markets, especially Dow Jones, closed in the red zone on Wednesday after the US Fed meet and SGX Nifty also opened today with a downside gap of 18 points, Indian markets are expected to feel the selloff pressure in the opening bell on Thursday.
Sharing his trade view chart Nagaraj Shetti, Technical Research Analyst at HDFC Securities said, "The short term trend of Nifty continues to be negative. But, the formation of hammer type pattern at crucial support and sharp intraday upside recovery from a lower range are pointing towards an upside bounce in the market in the next 1-2 sessions. The expected upside is likely to test the upper resistance of 15,860 to 15,900 levels in the near term."
Day trading stocks to buy today
On the basis of these facts and figures, stock market experts — Sumeet Bagadia, Executive Director at Choice Broking; Mudit Goel, Senior Research Analyst at SMC global Securities and Sandeep Matta, Founder at TRADEIT Investment Advisors — have recommended the following 6 shares to buy today.
Sumeet Bagadia's day trading guide
1] Steel Authority of India Limited or SAIL: Buy at ₹132, target ₹140 to ₹145, stop loss ₹125
2] ICICI Lombard General Insurance: Buy at ₹1490, target ₹1530 to ₹1550, stop loss ₹1460
Mudit Goel's day trading stocks to buy today
3] Bharti Airtel: Buy at CMP, target ₹580, stop loss ₹560
4] Aditya Birla Fashion and Retail Ltd or ABFRL: Buy at CMP, target ₹235, stop loss ₹221
Sandeep Matta's day trading guide
5] Muthoot Capital: Buy at ₹445, target ₹465 to ₹474, stop loss ₹418
6] Canara Bank: Buy at ₹143, target ₹150 to ₹155, stop loss ₹134.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.
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