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Day trading guide for Monday: 5 stocks to buy or sell today – 20th September – Mint

Day trading guide for Monday: Nifty snapped its 3-day winning streak on Friday ending 44 points lower at 17,585 levels. The BSE Sensex too shed 125 points and closed at 59,015 levels. However, Small-cap and Mid-cap indices tumbled more than a per cent. After opening on an upside gap of 80 points on Friday, the market surged up in the early-mid part of the session and registered a new all time high of 17,792 levels. A massive profit booking emerged from the new highs and the weakness continued for rest of the session. According to market experts, this pattern signals counter attack bear type pattern. They went on to add that such negative patterns tend to occur during strong up trended moves and more often they get nullified in the subsequent sessions.

On a day when the NSE cash volumes breached 1 lakh crore; metals, realty, power, oil & gas and healthcare stocks shed the most while telecom and bank stocks surged the most.

Trade view on NSE Nifty

Speaking on the intraday trading strategies; Nagaraj Shetti, Technical Research Analyst, HDFC Securities said, “The market seems to have started with profit booking and volatility at the new highs. Having moved up sharply in the last few sessions, there is a possibility of consolidation or minor weakness in the coming sessions. Important support for NSE Nifty is placed at 17,400 and there is a possibility of upside bounce from the lower levels.”

Day trading stocks for Monday

stock market experts — Sumeet Bagadia, Executive Director at Choice Broking; Manoj Dalmia, Director and Founder, Proficient Equities Private Limited and Ravi Singh, Founder & Director at DRS Advisory — recommended 5 shares to buy today.

Sumeet Bagadia’s intraday stocks for today

1] HDFC Bank: Momentum buy at CMP, target 1620 to 1650, stop loss 1540

2] Maruti Suzuki India Ltd or MSIL: Buy at CMP, target 7200 to 7300, stop loss 6850

Manoj Dalmia’s stock of the day

3] Manali Petrochemicals Ltd: Buy at 105.50, target 118, stop loss 98.50

Ravi Singh’s stocks to buy today

4] Bharti Airtel: Buy at 727, target 750, stop loss 720

5] Wockhardt: Buy at 440, target 455, stop loss 435.

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

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