Day Trading Guide For Friday: 6 Stocks To Buy Or Sell Today — 8th April | Mint – Mint

Day trading guide for Friday: Following weak global cues and overnight losses in the US markets, Indian stock market ended in red territory for thirds successive session on Thursday. Nifty 50 index fell 168 points and closed at 17,639 whereas BSE Sensex ended 575 points lower at 59,034 levels. Nifty Bank index shed 75 points and closed at 37,557 levels.

According to stock market experts, currently secondary market is led by the non-institutional players who have begun to aggressively take profits in the face of balance sheet reduction by the US Fed. They expected little build-up for Friday session as today’s RBI Monetary Policy meeting may not bring in any positive surprise.

Day trading guide for stock market today

On ideal day trading strategy for today; Deepak Jasani, Head of Retail Research at HDFC Securities said, “Nervousness spread to the broader markets on Thursday as advance decline ratio fell to below 1:1 after 4 days. Currently, the markets are led by the non-institutional players who have begun to aggressively take profits in the face of balance sheet reduction by the US Fed and ahead of the RBI policy meet. Nifty should now take support from 17,442 to 17,519 band. Friday’s RBI MPC meet may not bring in any positive surprise and hence there seems to be little build-up ahead of it.”

Speaking on day trading guide in regard to Nifty and Nifty Bank index; Mehul Kothari, AVP — Technical Research at Anand Rathi Shares & Stock Brokers said, “Broader range for Nifty today is placed between 17,600 to 17,850 band whereas small range for 50-stock index is placed between 17,550 to 17,800 band. Similarly, broader range for Nifty Bank index is placed between 37,200 to 38,300 band whereas short range for Bank Nifty index can be taken between 37,500 to 38,000 levels.”

Day trading stocks

Sharing intraday stocks for today, stock market experts; Mehul Kothari of Anand Rathi Shares & Stock Brokers; Avinash Gorakshkar, Head of Research at Profitmart Securities and Anuj Gupta, Vice President — Research at IIFL Securities — recommended 6 stocks to buy today.

Mehul Kothari’s intraday stocks for today

1] HDFC Bank: Buy at CMP, target 1625, stop loss 1450

2] Sunteck Realty: Buy at CMP, target 530, stop loss 450

Avinash Gorakshkar’s day trading stocks for today

3] Axis Bank: Momentum buy at CMP, target 825, stop loss 778

4] LIC Housing Finance: Buy at CMP, target 410, stop loss 385

Anuj Gupta’s stocks to buy today

5] Yes Bank: Buy at CMP, target 23, stop loss 9

6] Indian Hotels: buy at CMP, target 290, stop loss 224.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.

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