Day trading guide for today: 6 stocks to buy or sell on Wednesday — 9th November | Mint – Mint

Day trading guide for today: Following positive global sentiments, Indian stock market finished higher on Monday. NSE Nifty closed 85 points north at 18,202 whereas BSE Sensex shot up 234 points and closed at 61,185 levels. Bank Nifty gained 428 points and finished at 41,686 mark. Broad market indices outperformed Nifty and logged 0.64 per cent and 0.69 per cent gains respectively while advance decline ratio rose to 1.50:1.

According to stock market experts, Nifty is currently in an attempt to witness sharp upside breakout above the hurdle of 18,150 levels and has closed above it on Monday. New swing high was formed at 18,255 levels on Monday. Hence, a sustainable move above 18,250 levels could open further strengthening of upside momentum for the market ahead.

Day trading strategies for stock market today

On intraday trading tips for Wednesday session, Nagaraj Shetti, Technical Research Analyst at HDFC Securities said, “The short term trend of Nifty continues to be positive. The market is now showing signs of sustainable upside move into new swing highs. The next upside levels to be watched around 18350 and next 18,600 levels in the next 1-2 weeks. Immediate support for NSE Nifty is placed at 18,100 levels.”

Nifty call put option data

Speaking on Nifty call put option ratio, Shilpa Rout, Derivatives Lead Analyst at Prabhudas Lilladher said, “Nifty weekly expiry option chain witnesses PE writers actively adding their positions of more than a lakh contracts at 18000PE – over 1.7 lakh contracts, with Max fresh additions of more than 50 thousand contracts seen at 18100PE. CE writers exposure still lies at 19000 zones – nearly 2 lakh contracts, with highest fresh additions of 40 thousand contracts seen at 18400 strike. PCR_OI at 18100 now being well above 1, is shifting the base up and providing the comfort for the BULL run to continue.”

Bank Nifty call put option data

“Bank Nifty option chain on weekly basis, reflects on PE writers building positions of more than a lakh contracts at 41500PE, with CE writers adding exposure at 43000/42000 strikes- more than 80 and 75 thousand contracts respectively, which reflects on the upside clearing up till 43000 zones for the index going ahead,” Shilpa Rout said.

Day trading stocks to buy today

On intraday stocks for today, share market experts — Sumeet Bagadia, Executive Director at Choice Broking; Mehul Kothari, AVP — Technical Research at Anand Rathi and Anuj Gupta, Vice President — Research at IIFL Securities — recommended 6 shares to buy today.

Sumeet Bagadia’s stocks to buy today

1] UPL: Buy at CMP, target 770 to 780, stop loss 730

2] M&M: Buy at CMP, target 1380 and 1400, stop loss 1325

Mehul Kothari’s intraday stocks for today

3] Havells: Buy at 1235, target 1275, stop loss 1205

4] Birla Corporation: Buy at 1006, target 1048, stop loss 982

Anuj Gupta’s shares to buy today

5] State Bank of India or SBI: Buy at CMP, target 650, stop loss 594

6] Tata Steel: Buy at CMP, target 112, stop loss 101.

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

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