Day Trading Guide For Wednesday: 6 Stocks To Buy Or Sell Today — 25th May | Mint – Mint

Day trading guide for Wednesday: After flat opening on Tuesday, Indian stock market ended in red zone on second successive session. Nifty 50 index ended 89 points lower at 16,125 mark whereas BSE Sensex shed 236 points and closed at 54,052 levels. Nifty Bank index added 42 points and closed at 34,290 levels. Broad markets underperformed as the small-cap and mid-cap indices fell more than the 50-stock Nifty index.

According to stock market experts, daily timeframe of Nifty indicates that index has made a double bottom around the 15,735 levels and rallied sharply last Friday. Nifty has however failed to convincingly cross the recent swing high of 16,400 and has corrected from those levels in the last two sessions. They said that many stocks are also correcting and failing to hold on to their recent gains. This is a sign of weakness and caution is therefore warranted. Traders should wait for strength to emerge before going aggressively long.

Day trading guide for stock market today

Speaking on intraday trading strategy, Subash Gangadharan, Senior Technical and Derivative Analyst at HDFC Securities said, “While we remain open to further pullback rallies in the very near term, we must remember that the intermediate trend remains down. The bears would gain more control once the recent intermediate low of 15,735 is broken.”

Advising traders to remain cautious, Ruchit Jain, Lead Research, 5paisa.com said, “India VIX was up by 10 per cent on Tuesday, which is a sign of cautiousness and hence, traders should keep a tab on the same. The IT space continued its correction which validates our recent view on extension of the corrective phase in this sector. The Bank Nifty has shown relative strength in last couple of sessions but it has not yet surpassed its crucial hurdle. So in case the Nifty resumes its correction in the near term, then the banking space too will follow the path.”

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 Avinash Gorakshkar, Head of Research at Profitmart Securities — recommended 6 stocks to buy or sell today.

Sumeet Bagadia’s intraday stocks for today

1] Tata Motors: Buy at CMP, target 440 to 450, stop loss 410

2] HDFC Bank: Buy at CMP, target 1375, stop loss 1280

Anuj Gupta’s stock of the day

3] Zomato: Buy at CMP, target 75, stop loss 58

Mehul Kothari’s day trading stock

4] Kotak Mahindra Bank: Buy around 1881, target 1930, stop loss 1850

Avinash Gorakshkar’s stocks to buy today

5] State Bank of India or SBI: Buy at CMP, target 478, stop loss 454

6] LIC Housing Finance: Buy at CMP, target 400, stop loss 368.

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

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