Day trading guide for Friday: Six stocks to buy or sell today — July 14

Day trading guide for stock market today

On outlook for Nifty today, Nagaraj Shetti, Technical Research Analyst at HDFC Securities said, “We observe minor degree of higher lows and the overall trend status for Nifty remains positive. Any weakness below the immediate support 19,300 could drag Nifty down to 19,200-19,100 levels in the near term. A decisive upside above 19,550 is likely to bring more upside for the short term.”

On outlook for Bank Nifty today, Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher said, “Bank Nifty witnessed a decent pullback in the initial hours but fizzled out in the second half to erode the gains and close on a flat note. The 44,500 levels still as an important support zone breaching which the trend can turn weak overall. Bank Nifty today would have the daily range of 44,400-45,000 levels.”

Asked about major triggers that may dictate Indian stock market today, Siddhartha Khemka, Head – Retail Research, Motilal Oswal said, “Fall in the US CPI data to 2-year low boosted investor sentiments putting to rest some of the concerns with regards to US Fed rate hike. However, on the domestic front, inflation came in at 3-month high due to high vegetable prices which somewhat worried investors. On the other hand, primary market continues to do well with most of the IPOs over last 1 month getting good response. Currently Utkarsh SFB IPO is open which is also garnering huge investor interest. Going ahead, with the start of Q1FY23 earnings season, market is likely to witness more stock specific action. In near term market may remain in consolidation mode though the undertone remains positive on the back of strong FII inflows, robust domestic macro-micro factors and expectation of normal monsoon.”

Stocks to watch today

Earum Pharmaceuticals, Lancor Holdings stock will be in focus during Friday deals. Board of directors of Lancor Holdings are going to consider and approve bonus shares whereas Earum Pharmaceuticals board is going to consider the proposal for bonus issue, stock split, buyback of shares and final dividend.

A total of 29 dividend stocks are going to trade ex-dividend today. Those dividend paying stocks include M&M, Bosch, Apollo tyres, Lupin, Birlasoft, REC, AU Small Finance Bank, Ujjivan Small Finance, Hindustan Zinc and Atul.

Apart from this, Aptech shares will be among stocks to watch today as the scrip is going to trade ex-bonus for issuance of bonus shares in 2:5 ratio.

Day trading stocks for today

On intraday stocks for today, stock market experts — Sumeet Bagadia, Executive Director at Choice Broking; Anuj Gupta, Vice President — Research at IIFL Securities and Ganesh Dongre, Senior Manager — Technical Research at Anand Rathi — recommended five stocks to buy today.

Sumeet Bagadia’s stocks to buy today

1] ONGC: Buy at ₹168.80, target ₹173.20, stop loss ₹164.50.

In the daily chart, ONGC has been consistently following a Higher High-Higher Low formation. As the stock has recovered from support zone and remains over ₹165, it may continue its primary trend. Price is also holding above the 20 and 40 EMAs. The RSI indicator, which is currently at 64, indicates bullishness in stock.

2] ABFRL: Buy at ₹216.60, target ₹227, stop loss ₹210.

The stock has bounced from the strong support of ₹211 levels which is also 20 and 50 day EMA levels. Currently stock is moving above 20 and 50 Day EMA. The stock has a small resistance close to ₹221 levels. Any dip in the stock can be a buying opportunity. Once stock crosses the above mentioned resistance stock can move towards ₹227 levels and higher. Momentum indicator RSI is currently around 58 levels indicating strength.

Anuj Gupta’s buy or sell stocks

3] Infosys: Buy at CMP, target ₹1390, stop loss ₹1335.

The stock is trading above 10 & 20 days moving average, and trading 3 months high levels. Has given strong breakout with substantial rise in trade volume.

4] Tech Mahindra or TechM: Buy at CMP, target ₹1240, stop loss ₹1153.

Tech Mahindra share price has given breakout after consolidation. the stock is trading above 13 month high levels. It has formed bullish candlestick pattern and bullish chart structure.

Ganesh Dongre’s intraday stocks for today

5] Divi’s Lab: Buy at ₹3620, target ₹3720, stop loss ₹3570.

In the short-term trend, the stock has a bullish reversal pattern, technically retrenchment could be possible till ₹3720. So, holding the support level of ₹3570 this stock can bounce toward the ₹3720 level in the short term. Hence, the trader can go long with a stop loss of ₹3570 for the target price of ₹3720.

6] ICICI Bank: Buy at ₹958, target ₹975, stop loss ₹945.

On the short-term chart, the stock has showing a bullish reversal pattern, so holding the support level of ₹945 this stock can bounce toward the ₹975 level in the short term. Hence, the trader can go long with a stop loss of ₹945 for the target price of ₹975.

Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before taking any investment decisions.

Updated: 14 Jul 2023, 08:41 AM IST