Day trading guide for Wednesday: India’s equity benchmark indices on Tuesday broke a three session losing streak following positive Asian cues. After showing higher level intraday weakness on Monday, Nifty witnessed sustainable upside bounce on Tuesday and closed the day higher by 119 points. According to stock market experts, the negative implication of sell on intraday rise of Monday was nullified and NSE Nifty was able to breach the crucial intraday resistance of 15,800 on the upside. This is positive indication and signal more upside in the short-term, say experts while talking about the day trading guide for Indian stock market’s traders and investors.
Volumes on the NSE on Tuesday were in line with recent averages which are on the lower side. Among sectors — Banks, Metals and Oil & Gas gained the most while IT and FMCG lost the most. The S&P BSE Mid-cap was little changed while the S&P BSE Small-cap advanced 0.46 per cent.
Day trading guide for Indian stock market
As the SGX Nifty today is trading with an upside gap 82.55 points or 0.53 per cent at 15,794.50 levels, 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 and Sandeep Matta, Founder at TRADEIT Investment Advisors — have recommended the following shares to buy today when the market opens on Wednesday.
Sumeet Bagadia’s day trading guide for Wednesday
1] ONGC: Buy at ₹120, target ₹124 to ₹126, stop loss ₹118
2] Indiabulls Housing Finance: Buy at ₹279, target ₹290 to ₹300, stop loss ₹270
Mudit Goel’s stock market tip
3] HDFC Life: Momentum buy at CMP, target ₹710, stop loss ₹685
Rohit Singre’s recommended stocks to buy today
4] Greaves Cotton: BTST buy at CMP ₹174, target ₹178 to ₹181, stop loss below ₹170
5] Bodal Chemicals: Momentum buy at CMP, target ₹127 to ₹135, stop loss below ₹107
Sandeep Matta’s suggested shares to buy today
6] Britannia Industries: Buy at ₹3470, target ₹3550 to ₹3600, stop loss ₹3350
7] BHEL: Buy at ₹66.50, target ₹70 to ₹74, stop loss ₹61
8] Tata Motors: Buy at ₹311, target ₹330 to ₹345, stop loss ₹290.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.
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