Day trading guide for today: 7 stocks to buy or sell on Thursday — 20th April
Day trading guide for today: As global market drooped in cautious trade on US Fed rate hike, Indian stock market finished lower for third day in a row. NSE Nifty lost 41 points and closed at 17,618 while BSE Sensex corrected 159 points and ended at 59,567 levels. Nifty Bank index went off 111 points and finished at 42,154 levels. Small-cap index ended minorly in the positive even as the advance decline ratio dipped below 1:1 (at 0.91:1) after almost 3 weeks.
Day trading guide for stock market today
On outlook for Nifty today, Nagaraj Shetti, Technical Research Analyst at HDFC Securities said, “The underlying short term trend of Nifty continues to be choppy and this market action is expected to continue for the next session. The market is likely to find support around 17600-17500 levels before showing upside bounce from the lows.”
Speaking on Nifty Bank index outlook for today, Rajesh Bhosale, Technical Analyst at Angel One said, “Immediate support for Nifty Bank is placed at 42,000 whereas strong support for the index is lying around 41,800 levels. Likewise, Bank Nifty today is facing immediate hurdle at 42,500 while it is facing strong resistance at 42,630. This means, short range for Nifty Bank today is 42,000 to 42,500 whereas broader range for the index on Thursday can be assumed from 41,800 to 42,630 levels.”
Day trading stocks to buy today
On intraday stocks for today, stock market experts — Sumeet Bagadia, Executive Director at Choice Broking; Anuj Gupta, Vice President — Research at IIFL Securities; Jigar Patel, Senior Technical Analyst at Anand Rathi and Rajesh Bhosale, Technical Analyst at Angel One — recommended 7 day trading stocks for today.
Sumeet Bagadia’s intraday stocks for today
1] Voltas: Buy at CMP, target ₹870 to ₹880, stop loss ₹830
2] Polycab: Buy at CMP, target ₹3200 to ₹3225, stop loss ₹3080
Anuj Gupta’s stock of the day
3] Tata Steel: Buy at CMP, target ₹116, stop loss ₹103
Jigar Patel’s stocks to buy today
4] Reliance Industries Ltd or RIL: Buy at ₹2352, target ₹2385, stop loss ₹2325
5] Radico Khaitan: Buy at ₹1098, target ₹1125, stop loss ₹1082
Rajesh Bhosle’s day trading stocks for today
6] Lemon Tree: Buy at ₹83, target ₹90, stop loss ₹79
7] Axis Bank: Buy at ₹873, target ₹904, stop loss ₹857.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decisions.
Know your inner investor
Do you have the nerves of steel or do you get insomniac over your investments? Let’s define your investment approach.
Download The Mint News App to get Daily Market Updates.
