Today’s stock market day trading guide: Global market sentiment remains positive despite global rating agency Fitch lowering its outlook for China. Strong US inflation data has the market excited about a short-term Federal Reserve interest rate cut. Dalal Street is expected to react to strong US CPI data as the Indian stock market opens after the stock market holiday. However, stock market experts expect this positive trend to continue.
Today’s stock market day trading guide
Commenting on the outlook for the Nifty 50 index today, Nagaraj Shetty, Senior Technical Research Analyst, HDFC Securities said, “The Nifty 50 index is currently at a hurdle around 22,800 level (upward resistance trend line and 1.618% Fibonacci extension). It’s dark.”
Rajesh Bhosale, Technical Analyst at Angel One, revealed his stock market strategy after early morning trading triggered profit taking, saying, “The nature of the correction that unfolds will be crucial. A correction in the base could trigger a broader market.” Amid this uncertainty, we recommend continuing to trade disciplined stocks while avoiding aggressive bets and ensuring a proper exit strategy. Important levels to monitor include 22,800-22,850 as critical resistance, followed by psychological resistance at 23,000 for him and immediate support observed around 22,600-22,550 for him. ”
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, and Drumil Vithlani, Technical Research Analyst at Bonanza Portfolio, recommended his 7 stocks to buy or sell today.
Sumeet Bagadia’s recommended stocks
1]Infosys: buy at INR1498, target INR1580, stop loss INR1468.
Infosys stock is currently valued at: INR1498. A recent reversal from the bottom indicated by a neutral candlestick pattern suggests a bullish reversal with solid trading volume. These patterns indicate a strong potential upward trajectory for the stock.
2]Tata Consumer: buy at INR1145, target INR1220, stop loss INR1107.
Tata Consumer Products Limited (TATACONSUM) is currently showing positive technical signals in its trading pattern.The stock is traded at INRThe 1145 level that the stock price crossed INR1135 was the 20-day and 50-day EMA levels.Its solid support base is nearby INR1107 level.
Stocks Shiju Koothupalakkal should buy today
3]NHPC: buy at INR92.85, target INR97, stop loss INR90.50.
The stock is showing a low price formation pattern on the daily chart and is receiving support nearby. INRIt gives a pullback to improve bias in the 90.50 zone. The RSI has also improved the strength of the indicator and further gains are expected in the next session. I recommend buying stocks with as your first goal. INRKeep stop loss at 97 level INR90.50 level.
4]BF Utility: buy at INR829, target INR875, stop loss INR819.
The stock witnessed a short correction, showing a low formation pattern on the daily chart and receiving support nearby. INRIt is in the 810 zone and gave a good pullback to improve the bias to expect further upside in the next session. With the RSI in a good position and the improvement showing strength, we recommend buying the stock at the initial target price. INRMaintain stop loss at 875 level INR819 levels.
5]Sarda Energy: Purchase above INR230, target INR244, stop loss INR224.
The stock is showing a bullish candlestick formation above the confluence of the 50 EMA and 200 period MA zone on the daily chart. INRThe 216 level shows strength and has room for further gains in the coming sessions. The RSI has been steadily rising and gaining momentum, and there is more potential for it to continue its positive movement. I recommend buying stocks with as your first goal. INRMaintain stop loss at 244 INR224.
Drumil Vithlani Stocks to Buy Today
6] UPL: buy at INRFrom 503 INR505, target INR520, stop loss INR497.
UPL is seen breaking out of a rectangle pattern on the daily time frame and forming a strong bullish candlestick, thus triggering a buy recommendation against the largest target. INRWith the 520 stop loss below, you can start buying on the push in the 503-505 range. INR497 on a daily closing price basis. The price is trading above the short-term EMA (20), indicating an uptrend for the security. The RSI is currently trading in a northerly direction supporting price movements.
7]Clean science and technology: buy at INRFrom 1360 INR1362, target INR1405, stop loss INR1339.
CLEAN is seen breaking out of a rectangle pattern on the daily time frame to form a bullish candlestick, and as such a buy recommendation is initiated against the following targets: INR1405. A buy trend can be initiated in the range. INRWith stop loss below 1360 INR1339 based on the day’s closing price.
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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