Day trading guide for today: 4 stocks to buy or sell on Tuesday — 25th October | Mint – Mint

Day trading guide for today: On account of ICICI Bank and HDFC Bank led rally in banking stocks, Indian indices finished higher on seventh straight day in one hour special Muhurat trading session on Monday. Nifty Bank index shot up 520 points and closed at 41,304 while Nifty 50 index surged 154 points and ended at 17,730 levels. BSE Sensex went up 524 points and finished at 59,831 levels.

Speaking on the reason for rise in Indian stock market, Dhiraj Relli, MD & CEO at HDFC Securities said, “Indian Indices ended in the positive in the Muhurat trading session in-line with most such sessions in the past. Indices rose, led by Bank stocks, after a volatile year, aided by positive cues from European and US markets and despite the sell-off in the Hong Kong and China markets. Investors hope that, the positive sentiment could get carried into new Samvat year despite some macro and global headwinds.”

Day trading strategies for stock market today

“The equity markets witnessed a good buying interest in last couple of weeks after forming a support base around the 17000 mark. The currency depreciation is usually considered as negative for equity markets but this time inspite of INR breaching the 83 mark, Nifty is still well above its swing lows which indicates a positive divergence and buying interest in equities,” said Ruchit Jain, Lead Research at 5paisa.com.

Speaking on intraday trading tips for Tuesday deals, Ruchit Jain of 5paisa.com said, “The immediate supports for Nifty are placed around 17460 and 17340 and close below these supports will then lead to a break in momentum where should again reassess the charts. On the flipside, 17700-17800 will be seen as the immediate resistance zone for the index.” He went on to add that the short term momentum still seems to be positive. But, one has to be very stock specific in selecting stocks for trading and avoid ones which are underperforming.

Day trading stocks to buy today

Asked about intraday stocks for today, share market experts — Sumeet Bagadia, Executive Director at Choice Broking and Anuj Gupta, Vice President — Research at IIFL Securities — listed out four shares to buy today. Those four shares are Kotak Mahindra Bank, Dabur India, Tata Motors and State Bank of India (SBI).

Sumeet Bagadia’s intraday stocks for today

1] Kotak Mahindra Bank: Buy at CMP, target 1960 and 1990, stop loss 1850

2] Dabur India: Buy at CMP, target 555 and 565, stop loss 522

Anuj Gupta’s shares to buy today

3] Tata Motors: Buy at CMP, target 412, stop loss 387

4] Stata Bank of India or SBI: Buy at CMP, target 595, stop loss 540.

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

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