Day trading guide for Friday: 8 stocks to buy or sell today — 24th June | Mint – Mint

Day trading guide for Friday: Despite fears of rising interest rates and recession across the globe, Indian stock market recovered from the early afternoon selloff on Thursday. Volumes on the NSE were in line with the recent average. Advance decline ratio jumped up to much above 1:1. Nifty 50 index ended 143 points higher at 15,556 whereas BSE Sensex surged 443 points and closed at 52,265 levels. Nifty Bank index shot up 289 points and closed at 33,135 levels.

According to stock market experts, current Dalal Street pattern indicates upside move in the market with high volatility. They said that after the weakness of Wednesday, the market showing upside bounce could be a positive indication and the days low of 15,367 is expected to be a small higher bottom formation as per daily chart. This needs to be confirmed with follow-through upside move in the subsequent session.

Day trading guide for stock market today

Speaking on day trading guide for Nifty today, Nagaraj Shetti, Technical Research Analyst at HDFC Securities said, “The Nifty 50 index is placed within a broader high low range of 15,700 to 15,350 levels. Having bounced up from the higher low on Thursday, there is a possibility of further upside move towards the crucial overhead resistance of 15,700 to 15,800 levels in the next 1-2 sessions, before showing another round of minor weakness from the highs.”

Unveiling day trading strategy, Ruchit Jain, Lead Research at 5paisa.com said, “Given that the market breadth is positive and certain sectors and stocks are also showing signs of a pullback from their oversold territory, we may see Nifty breaking the higher barrier soon. Hence, till 15,180 is intact, short term traders should look for stock specific buying opportunities and trade with a positive bias.”

Day trading stocks

Sharing intraday stocks for today, stock market experts — Sumeet Bagadia, Executive Director at Choice Broking; Mehul Kothari, AVP — Technical Research at Anand Rathi; Anuj Gupta, Vice President — Research at IIFL Securities and Avinmash Gorakshkar, Head of Research at Profitmart Securities — recommended 8 stocks to buy today.

Sumeet Bagadia’s stocks for Friday

1] Indian Hotels: Buy at CMP, target 235, stop loss 215

2] Pidilite: Buy at CMP, target 2250, stop loss 2075

Mehul Kothari’s intraday stocks for today

3] ITC: Buy around 265, target 272, stop loss 260

4] Kotak Mahindra Bank: Buy around 1680, target 1740, stop loss 1640

Anuj Gupta’s day trading stocks to buy

5] Axis Bank: Buy at CMP, target 700, stop loss 590

6] State Bank of India or SBI: Momentum buy at CMP, target 490, stop loss 418

Avinash Gorakshkar’s stock picks for Friday

7] Tata Motors: Buy at CMP, target 437, stop loss 393

8] ICICI Bank: Buy at CMP, target 730, stop loss 684.

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

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