Day trading guide for today: 6 stocks to buy or sell on Monday — 23rd January
Trading Day Guide for Today: After showing weakness with range-bound action on Thursday, key benchmark indices Nifty and Sensex slipped into weak territory on Friday with volatility closing lower for the second day in a row. The NSE Nifty shed 80 points to close at 18,027 levels, while the BSE Sensex lost 236 points to end at 60,621. However, banking stocks attracted buying interest from bulls and ended 177 points higher at 42,506 levels. The broad market indices declined slightly more than the Nifty, though the advance ratio fell to 0.67:1.
According to stock market experts, a reasonable negative candle has formed on the daily chart, indicating a consolidation movement in the market. Nifty is currently placed in a broad high-low range of 18,200 to 17,800 levels and a specific direction is lacking in the market.
According to Nagaraj Shetti, technical research analyst at HDFC Securities said, “We expect the choppy movement to continue in the short-term. Lower levels of 17,900-17,800 could be the market support and an upward bounce from the lows can be expected. At the same time, the upper area of 18,150 to 18,200 is expected to represent stiff resistance in the near term.”
“The global handover suggests a positive setup for domestic markets earlier this week. The Nifty remains strongly supported by the key 17,800 mark, even as it braces for increased volatility in the near term in view of two key events.” “The Union Budget and the US Fed’s policy match the outcome,” said market expert Sugandha Sachdeva. She went on to add that risk sentiment is likely to improve as markets expect the U.S. Fed to slow the pace of rate hikes amid a slew of dovish economic data released last week that suggested it was responsible for last year’s sharp turnaround in interest rates. began to damage the economy. This largely underlines the continued pressure on the dollar index, which is hovering at a multi-month low.
“On Friday, Bank Nifty performed well against Nifty. A subsequent move above 42,700 could create good momentum for this index in the short term,” said Ruchit Jain, head of research at 5paisa.com.
Day trading stocks to buy today
Intraday stock reveal for today, stock market experts — Sumeet Bagadia, Managing Director, Choice Broking; Anuj Gupta, vice president of research at IIFL Securities and Ganesh Dongre, senior manager of technical research at Anand Rathi, listed 6 stocks as a buy on Monday.
Stocks recommendations According to Sumeet Bagadia’s Intraday Stocks Today
1] GAIL (India): Buy at CMP, target ₹105, stop loss ₹96
2] HDFC Bank: Buy at CMP, target ₹1700 to ₹1725, stop loss ₹1630
3] Tata Steel: Momentum buy on CMP, target price ₹132, stop loss ₹114
4] IDFC First Bank: Buy at CMP, target price ₹70, stop loss ₹52
Stocks recommendations According to By Ganesh Dongre shares today
5] ICICI Bank: Buy at ₹871, target price ₹895, stop loss ₹860
6] Coal India: Buy at ₹227, target price ₹240, stop loss ₹220.
Disclaimer: The above opinions and recommendations are those of individual analysts or brokerage firms and not of www.viralvdoz.com
