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Day trading guide for Friday: 7 stocks to buy or sell today — 17th September – Mint

Day trading guide for Friday: After showing an upside breakout of the range movement on Wednesday, Nifty continued with follow-through upside move on Thursday and closed at record high of 17,629 — logging 110 points gain from its Wednesday close. BSE Sensex also went up 417 points and closed at record 59,141 levels. After opening on a positive note on Thursday session, the market showed minor intraday dip in the early part of the session. The upside momentum continued in the mid to later part of the session. According to experts, this action signals a decisive upside breakout of the range-bound movement. This pattern also reflects ongoing strength of uptrend in the market. Though, Nifty placed at the new highs, still there is no indication of reversal pattern at the highs. This is a positive indication and signal more upside ahead.

Banking, especially PSU bank stocks were in limelight on Thursday with exceptional upside breakout of around 2.7 per cent in Bank Nifty and 5.43 per cent in PSU Banking sector. There is a possibility of some more upside towards 38,400 to 38,500 levels in the Bank Nifty index by next week.

Asian markets were largely weak as the debt crisis at China Evergrande Group and Beijing’s latest push to rein in private industries hurt sentiments. Hong Kong’s stock market wobbled on Thursday, leaving it on course for its worst week in more than a year, after Beijing’s intensifying clampdown on sectors from gambling to education knocked investor sentiment.

Trade view on NSE Nifty

Speaking on intraday trading strategies; Nagaraj Shetti, Technical Research Analyst at HDFC Securities said, “The upside momentum continued in the market with banking and financial segments have started to outperform. The overall positive chart pattern of Nifty from smaller to larger timeframe could hint next possible upside target of 18,000 in the next 1-2 weeks. However, intraday corrections can’t be ruled out in between. Immediate support for NSE Nifty to be watched is at 17,470 levels.”

Day trading stocks to buy today

Speaking on intraday stocks for today, stock market experts — Sumeet Bagadia, Executive Director at Choice Broking; Sandeep Matta, Founder at TRADEIT Investment Advisors; Kapil Goenka, Founder at Eternity Financial Services; Manoj Dalmia, Director and Founder, Proficient Equities Private Limited and Rohit Singre, Senior Technical Analyst at LKP Securities — recommended 7 shares to buy today.

Sumeet Bagadia’s intraday trading stocks for today

1] Hero Motocorp: Momentum buy at CMP, target 3000 to 3050, stop loss 2850

2] SBI Life Insurance Company: Buy above 1184, target 1214 to 1250, stop loss 1154

Sandeep Matta’s day trading stocks

3] Indiabulls Real Estate: Buy at 141, target 155 to 165, stop loss 126

4] Phoenix: Buy at 860, target 940 to 980, stop loss 780

Kapil Goenka’s stock of the day

5] ITC: Buy at 230, target 246, stop loss 220

Manoj Dalmia’s stock to buy today

6] TPL Plastech: Buy at 192.50, target 209, stop loss 184

Rohit Singre’s stock pick for today

7] Reliance Industries Ltd or RIL: Buy at 2390, target 2440 to 2490, stop loss 2360.

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

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