Day trading guide for Monday: 8 stocks to buy or sell today — 4th April – Mint

Day trading guide for Monday: After showing choppy movement in the last couple of sessions, Nifty 50 index witnessed an excellent upside breakout on Friday at 17,550 levels on closing basis and closed the day decently higher by 205 points at 17,670 levels. BSE Sensex shot up 708 points and closed at 59,276 mark while Nifty Bank index surged 774 points and closed at 37,148 levels.

According to stock market experts, a long ‘bull candle’ was formed on the daily chart, which indicate an upside breakout. This is positive indication and one may expect further upside in the short term.

Day trading guide for stock market today

Speaking on intraday trading strategy for Nifty today; Nagaraj Shetti, Technical Research Analyst, HDFC Securities said, “The upside momentum seems to have picked up in the market after a small consolidation movement. The Nifty is expected to move towards 17,800 to 18,000 levels by end of this week, before showing another round of minor downward correction from the highs. Immediate support for NSE Nifty is placed at 17,550 levels.”

Sharing important levels in regard to Nifty and Bank Nifty index; Sumeet Bagadia, Executive Director at Choice Broking said, “Nifty has given breakout at 17,550 levels on Friday on closing basis and this is working as immediate support for the 50-stock index whereas its immediate hurdle is placed at 17,800 levels. Day traders can take broader range of NSE Nifty in between 17,400 to 18,000 levels. Likewise, small range of Nifty Bank is placed in between 36,700 to 37,500 whereas broader range of the banking index is placed in 36,300 to 38,000 range.”

Day trading stocks

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

Sumeet Bagadia’s day trading stocks to buy today

1] Ambuja Cements: Buy at CMP, target 315 to 320, stop loss 298

2] Bajaj Auto: Buy at CMP, target 3850 to 3900, stop loss 3650

Mehul Kothari’s intraday stocks for today

3] Birlasoft: Momentum buy at CMP, target 490, stop loss 455

4] Kotak Mahindra Bank: Buy at CMP, target 1932, stop loss 1700

Anuj Gupta’s day trading stocks for Mondays

5] Adani Power: Momentum buy at CMP, target 235, stop loss 189

6] Wockhardt: Buy at CMP, target 320, stop loss 264

Avinash Gorakshkar’s stocks to buy today

7] HDFC Ltd: Buy at CMP, target 2580, stop loss 2400

8] GAIL: Buy at CMP, target 173, stop loss 157.

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

Subscribe to Mint Newsletters

* Enter a valid email

* Thank you for subscribing to our newsletter.

the App to get 14 days of unlimited access to Mint Premium absolutely free!

Leave a Reply

Your email address will not be published. Required fields are marked *