Day trading guide for Wednesday: After showing sustainable up move in the last couple of trade sessions, Nifty witnessed sharp intraday profit booking at the hurdle of 15,900 levels and slipped into weakness on Tuesday and closed lower by 16 points. According to stock market experts, the market has shifted into a sustainable intraday upside move for the better part of the upcoming sessions. They said that immediate support is placed at 15,730. They advised traders and investors to take these levels and mood of the market as day trading guide for Wednesday while making any investment decision.
On Tuesday, volumes on the NSE were higher than recent averages. Among sectors, Power & Banks gained the most while Auto, IT and energy were the main losers. BSE midcap index ended marginally higher, while small-cap index fell 0.26 per cent.
Expecting further expansion in the volume at Indian indices, experts have advised the following 7 shares to buy when the market opens on Wednesday July 7th:
Speaking on the stocks to buy today Sumeet Bagadia, Executive Director at Choice Broking said, “Today investors and traders can buy Tata Steel and Kotak Mahindra Bank shares, if they are planning to buy any stock in the intraday trade.”
1] Kotak Mahindra Bank: Buy at ₹1750, target ₹1800 to ₹1820, stop loss ₹1720.
2] Tata Steel: Buy at ₹1160, target ₹1225, stop loss ₹1120.
Asked about day trading strategy for Wednesday Jay Thakkar, VP & Head of Equity Research at Marwadi Shares and Finance said, “One can buy HDFC Bank, PVR and Shriram Transport Finance shares today.”
3] HDFC Bank: Buy at CMP, target ₹1580 to rs 1610, stop loss ₹1505.
4] PVR: Buy at CMP ₹1418, target ₹1475 to ₹1500, stop loss ₹1367.
5] Shriram Transport Finance: Buy at CMP 1415, target ₹1500 to ₹1525, stop loss ₹1370.
On shares to buy today Sandeep Matta, Founder at TRADEIT Investment Advisors said, “Today, one can buy ITD Cementation and Sterling Tools shares.”
6] ITD Cementation: Buy at ₹89, target ₹105, stop loss ₹78.
7] Sterling Tools: Buy at ₹190, target ₹225, stop loss ₹165.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.
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