Day trading guide for today: 6 stocks to buy on Wednesday — 16th November | Mint – Mint

Day trading guide for today: Following strong global cues after Chinese President Xi Jinping and US President Joe Biden dropping a hint to improve US-China ties, Indian stock market ended higher on Tuesday. NSE Nifty finished 74 points higher at 17,403, BSE Sensex surged 248 points and closed at 61,872 while Nifty Bank index gained 295 points and closed at 42,372 levels. Broad market indices closed almost flat, underperforming the Nifty even as the advance decline ratio ended positive at 1.01:1.

According to stock market experts, the positive chart pattern like higher tops and bottoms continued as per daily timeframe chart and some of important opening upside gaps of the last one month remains unfilled. This is positive indication and one may expect further upside in the near term.

Stock market today: Day trading strategy for Wednesday

Unveiling intraday trading tips, Nagaraj Shetti, Technical Research Analyst at HDFC Securities said, “The short term trend of Nifty continues to be positive and the upside momentum seems to have picked up after a range movement. The next upside targets to be watched around 18,600 to 18,700 levels in the next few sessions. Immediate support for NSE Nifty is placed at 18,300 levels.”

Day trading stocks to buy today

Sharing intraday stocks for today, share market experts — Sumeet Bagadia, Executive Director at Choice Broking; Anuj Gupta, Vice President — Research at IIFL Securities; Mehul Kothari, AVP — Technical Research at Anand Rathi and Manoj Dalmia, Founder & Director at Proficient Equities — recommended 6 stocks to buy or sell today.

Sumeet Bagadia’s intraday stocks for today

1] Pidilite Industries: Buy at CMP, target 2725 to 2750, stop loss 2640

2] UltraTech Cement: Buy at CMP, target 7200 and 7300, stop loss 6800

Anuj Gupta’s stocks to buy today

3] Axis Bank: Buy at CMP, target 890, stop loss 838

4] Liberty Shoes: Buy at CMP, target 380, stop loss 323

Mehul Kothari’s stock of the day

5] Cummins India: Buy at 1370, target 1410, stop loss 1330

Manoj Dalmia’s intraday stock

6] Asian Paints: Buy at 3103, target 3135, stop loss 3088.

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

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