Day trading guide for Monday: After showing a consolidation type movement in the last couple of sessions, Indian stock market made an attempt to stage upside breakout on last trade session of 2021. Nifty 50 index ended 150 points up on Friday at 17,354 whereas BSE Sensex gained 459 points and closed at 58,253 levels. Nifty Bank index shot up 418 points and closed at 35,481 levels. According to stock market experts, current chart pattern indicates positive signal and one may expect more upside in the short term.
Day trading guide for stock market today
On day trading guide for Nifty today; Nagaraj Shetti, Technical Research Analyst at HDFC Securities said, “The short term trend of Nifty continues to be positive and one may expect further upside in the short term. A sustainable move above 17,640 on NSE Nifty is likely to negate the bearish setup and that could open more upside as per daily and weekly timeframe chart. Immediate support for Nifty is placed at 17,260 levels.”
Speaking on day trading guide for Nifty Bank index; Ruchit Jain, Lead Research at 5paisa.com said, “Bank Nifty index is about to complete its 5 wave decline and hence it is in the last leg of the corrective phase. We may be at the end of a corrective phase or have completed the correction and hence, we expect limited downside from current levels too. So this is a good opportunity for investors to look for buying opportunities for the coming year as we expect the bull market to continue.”
Day trading stocks to buy today
Sharing day trading stocks for today; stock market experts — Sumeet Bagadia, Executive Director at Choice Broking and Mudit Goel, Senior Research Analyst at SMC Global Securities — recommended 4 stocks to buy today.
Sumeet Bagadia’s day trading stocks
1] Interglobe Aviation or INDIGO: Buy at CMP, target ₹ ₹2075 to ₹2100, stop loss ₹1970
2] Aditya Birla Fashion and Retail Ltd or ABFRL: Buy at CMP, target ₹280 and ₹290, stop loss ₹260
Mudit Goel’s day trading stocks for today
3] Firstsource Solutions Ltd or FSL: Buy at CMP, target ₹191, stop loss ₹180
4] Birlasoft: Buy at CMP, target ₹562, stop loss ₹541.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.
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