Today’s stock market day trading guide
Commenting on the outlook for Nifty 50 today, Nagaraj Shetty, Senior Technical Research Analyst, HDFC Securities said, “Short-term trend in Indian stock market remains weak. “The outlook may change,” he said. The Nifty 50 index is expected to rise from its lows in the coming sessions. The immediate resistance for Nifty today lies at 22,260 levels. ”
Announcing an intraday trading strategy for the Indian stock market today, Rushit Jain, Principal Researcher at 5paisa.com, said, “Trading with an equity-specific approach may be a better trading strategy in the short term.” “Weekly options data supports an intraday trading strategy for the Indian stock market.” The Nifty 50 index is in the 22,000-21,950 range, which coincides with rising trendline support, but only if this support is broken, we can expect a correction towards 89 DEMA near 21,750. However, the hourly measurements are oversold. If the market breadth is positive, traders should closely monitor the above-mentioned levels of the index and trade accordingly. ”
Buy and sell stock ideas with experts
Stock market experts on what stocks to buy today – Sumeet Bagadia, Executive Director, Choice Broking. Shiju Koothupalakkal, Technical Research Analyst at Prabhudas Lilladher. Bonanza Portfolio Technical Research Analyst Durmil Visrani recommended six stocks to buy or sell today.
Sumeet Bagadia Stocks to Buy Today
1]Escort: buy at INR3063, target INR3260, stop loss INR2950.
The current trading price of ESCORTS is INR3063.15. Stock prices have recently INRTrading volume increased significantly to the 3000 level, indicating price stability. If the price somehow exceeds the INRIf it is at the 3100 level, there is a possibility of reaching the short-term goal. INR3260. Meanwhile, the immediate support levels are: INR3000 and INR2950. These levels can be viewed as a buying opportunity.
2]Hull: buy at INR3722, target INR3939, stop loss INR3611.
HAL stock has shown strong bullish momentum and is currently trading at an all-time high. INR3738.95 level.Breakout above recent key resistance INRThe 3600 level is a significant technical development supported by solid trading volumes, reinforcing the stock’s strength. This jump suggests the uptrend could continue, giving investors optimism.
Shiju Koothupalakkal Stocks to Buy Today
3]Bharat Dynamics: buy at INR1847, Goal INR1940, stop loss INR1800.
The stock price, which has undergone a decent period of consolidation, is likely to continue its positive movement with heavy participation in anticipation of further upside, indicating a bullish candlestick formation. The RSI also showed a positive trigger after the consolidation phase, which triggered a new rally. I recommend buying stocks with as your first goal. INRMaintain stop loss at 1940 level INR1800 levels.
4]GRSE: buy at INR884.50, target INR930, stop loss INR867.
Short-term adjusted stock prices are supported near the important 100-period MA. INRIt reached the 840 level and witnessed a higher low formation on the daily chart and a decent bounce to improve the bias. The RSI is in a good position and is on the rebound again, with further gains expected. I recommend buying stocks with as your first goal. INRKeep stop loss at 930 level INR867 levels.
5]Mazagon Dock: buy at INR2213, target INR2340, stop loss INR2157.
The stock is showing a positive bullish candlestick formation to improve the bias to receive support near the important 50 EMA level. INRThe 2092 level and higher lows indicate a pullback that predicts further gains in the coming days. We can expect further gains as the RSI is well-positioned and is expected to rise further. I recommend buying stocks with as your first goal. INRMaintain stop loss at 2340 level INR2157 levels.
Durmil Vislani’s Stock of the Day
6]Shilpa Medicare: buy at INRFrom 540 INR542, target INR562, stop loss INR531.
The Shilpa Medicare stock is seen breaking out of a channel pattern and forming a bullish candlestick in the daily time frame, which is why a buy recommendation has been initiated against the following targets. INR562. You can initiate a buy push in the following range. INRFrom 540 INR542 below stop loss INR531 on a daily closing price basis.
Disclaimer: The views and recommendations expressed above are those of individual analysts or brokerages and not of Mint. We recommend checking with a certified professional before making any investment decisions.
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Published: April 18, 2024, 8:33 AM IST
