Day trading guide for Tuesday: Indian stock market snapped its four day losing streak on Monday. NSE Nifty rose 159 points and closed at 17,691 levels while BSE Sensex closed at 59,299 levels — 533 points up from its previous day close. Bank Nifty also added 353 points and closed at 37,579 levels. On a day when the volumes on the NSE were higher than normal; realty, power, metals, capital goods and healthcare indices gained the most while consumer durables index fell the most. S&P BSE Mid-cap rose 1.5 per cent and S&P BSE Small-cap gained over 1.7 per cent.
At Wall Street, Dow Jones dipped 0.94 per cent while Nasdaq crashed 2.14 per cent. Asian markets were mixed on Monday with Hong Kong’s benchmark down more than 2 per cent after troubled property developer China Evergrande’s shares were suspended from trading. Markets were closed for holidays in Shanghai and South Korea on Monday.
Trade view on Nifty
Speaking on intraday trading strategy; Deepak Jasani, Head of Retail Research at HDFC Securities said, “Nifty has formed a bullish pattern though its placement is normally after a deep/prolonged sell-off. Advance decline ratio is also sharply positive. Nifty could continue its uptick and remain in the 17,576 to 17,781 band for the near term.”
Day trading stocks to buy today
Unveiling intraday stocks for today, stock market experts — Sumeet Bagadia, Executive Director at Choice Broking; Mudit Goel, Senior Research Analyst at SMC Global Securities; Rohit Singre, Senior Technical Analyst at LKP Securities; Dr Ravi Singh, Head of Research & Vice President, Share India; Sandeep Matta, Founder at TRADEIT Investment Advisors and Manoj Dalmia, Director & Founder, Proficient Equities Private Limited — recommended 9 intraday stocks for today.
Sumeet Bagadia’s intraday stocks for today
1] Tech Mahindra: Buy at CMP, target ₹1430 to ₹1450, stop loss ₹1370
2] Tata Steel: Buy at CMP, target ₹1350 to ₹1370, stop loss ₹1290
Mudit Goel’s stock of the day
3] Wipro: Momentum buy at CMP, target ₹658, stop loss ₹632
Rohit Singre’s stocks to buy today
4] Minda Corp: Buy at CMP, target ₹140 to ₹145, stop loss below ₹130
5] HEG: Buy at CMP, target ₹2700, stop loss ₹2400
Ravi Singh’s shares to buy today
6] Tata Consultancy Services or TCS: Buy at ₹3770, target ₹3980, stop loss ₹3740
7] Tata Chemicals: Buy at ₹930, target ₹970, stop loss ₹920
Sandeep Matta’s day trading stocks for Tuesday
8] NMDC: Buy at ₹148, target ₹160, stop loss ₹140
Manoj Dalmia’s intraday stock for Tuesday
9] Pricol: Buy at ₹107, target ₹116, stop loss ₹103.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.
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