Day trading guide for Tuesday: 8 stocks to buy or sell today — July 20 – Mint

Day trading guide for Tuesday: After showing range bound action with weak bias at the all time high of 15,962 levels on Friday, Nifty slipped into a sharp weakness on Monday and closed the day lower by 171 points, which is highest in points and per cent basis since April 30, 2021. At NSE Nifty, 42 out of 50 stocks closed in the red zone while all 12 Bank Nifty stocks closed below from its Friday close price. Speaking on the day trading guide, stock market experts said that the short-term trend of Nifty seems to have turned down, after a display of lack of strength at the new highs. The overall chart pattern signal chances of market sliding down to the crucial support of 15,635 levels in the short-term. But, there is a higher possibility of Nifty moving below this support over the period of time. Any upside moves from here could find selling pressure around 15,825 levels.

While volumes in cash markets were higher than recent averages, advance decline ratio turned negative suggesting profit taking. Banking stocks came under pressure on renewed fears of asset quality/rising slippages following Q1 results from Banks. Metal and Auto stocks also came under selling pressure following virus scare and inflation worry on a global basis.

Stocks to buy today

On the basis of above mentioned facts and figures, stock market experts — Sumeet Bagadia, Executive Director at Choice Broking; Mudit Goel, Senior Research Analyst at SMC Global Securities; Rohit Singre, Senior Technical Analyst at LKP Securities, Sandeep Matta, Founder at TRADEIT Investment Advisors and Kapil Goenka, Director at C M Goenka Stock Brokers — recommended the following 8 shares to buy today.

Sumeet Bagadia’s day trading stocks to buy today

1] State Bank of India (SBI): Buy at 425, target 440 to 450, stop loss 415

2] NTPC: Buy at 120, target 124 to 126, stop loss 118

Mudit Goel’s stock of the day

3] Torrent Power: Buy at CMP, target 495, stop loss 473

Rohit Singre’s day trading shares to buy today

4] PNC Infratech: Momentum buy at 315, target 335 to 350, stop loss below 300 on closing basis

5] J B Chemicals and Pharmaceuticals: Momentum buy nat 1870, target 2,000 to 2,100, stop loss below 1,770

Sandeep Matta’s stock recommendations for today

6] Star Paper Mills: Buy at 161, target 175 to 187, stop loss 145

7] Sterling and Wilson Solar or SW Solar: Buy at 275, target 290 to 308, stop loss 245

Kapil Goenka’s stock to buy on Tuesday

8] Kolte-Patil Developers: Buy at 245, target 268, stop loss at 227.

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