Day trading guide for today: Six stocks to buy or sell on Friday — July 28

Day trading guide for stock market today

On outlook for Nifty today, Nagaraj Shetti, Technical Research Analyst at HDFC Securities said, “The short term trend of Nifty seems to have reversed down and more weakness could be in store for the coming sessions. There is a possibility of important cluster support for the market around 19500-19450 levels. Any rise from here could find strong resistance at 19850 levels.”

On outlook for Bank Nifty today, Ashwin Ramani, Derivatives & Technical Analyst at SAMCO Securities said, “Bank Nifty has been consolidating in the 45,600-46,200 range since the last six trading sessions. The downside support for Bank Nifty is placed around 45,300 zones while a close above 46,200 will drive further rally.”

Speaking on outlook for stock market today, Siddhartha Khemka, Head – Retail Research at Motilal Oswal said, “Market is likely to consolidate given no clarity given by the US Fed on its future course of action, leading to mixed global cues. Overall strength continues in the market, with the likelihood of consolidation at higher levels.”

Stocks to watch today

Shares of Earum Pharmaceuticals will be in focus today as board of directors of the company are going to consider and approve bonus shares for its shareholders. However, two stocks will be trading ex-bonus today. Those two stocks are Shish Industries and Remedium Lifecare. Shish industries is trading ex-bonus today for issuance of bonus shares in 2:1 ratio whereas Remedium Lifecare is trading ex-bonus today for issuance of bonus shares in 9:5 ratio.

In stock split segment, Servotech Power is going to trade ex-split today as board of directors of the company has declared stock subdivision in 1:2 ratio.

Among dividend stocks, more than 50 stocks are going to trade ex-dividend today. These dividend paying stocks include IEX, Adani Ports, Info Edge, Equitas Small Finance Bank, Union Bank, Amara Raja Batteries, IOC, Aarti Industries, Sobha, Tata Motors, etc.

Q1 results today

A total of 54 companies listed on Dalal Street are going to declare their respective Q1 earning for the financial year 2023-24. These companies include Indian Oil Corporation, SBI Cards & Payment Services, United Breweries, Mahindra & Mahindra Financial Services, Star Health & Allied Insurance Company, UCO Bank, Bank of India, Equitas Small Finance Bank, DCB Bank, Nazara Technologies, Fino Payments Bank, etc.

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 six stocks to buy today.

Sumeet Bagadia’s intraday trading stocks

1] Sun Pharma: Buy at ₹1134, target ₹1172, stop loss ₹1110.

Sun Pharma share price is presently trading around ₹1134, having recently broken out from its previous range of ₹1110 to ₹1100 that persisted for a week. This breakout signifies a potential shift in the stock’s price dynamics, making it an intriguing investment prospect.

2] Divi’s Lab: Buy at ₹3742, target ₹3910, stop loss ₹3680.

Divi’s Lab share price stock is slowly holding around the 20 and 40 EMA, which act as a crucial support. The RSI has been holding steady at 52 and might continue to move higher. In an extended period of time, the stock is rising and following the HH-HL formation. Additionally, the price is holding at the middle Bollinger band in daily chart.

Anuj Gupta’s stocks to buy today

3] Ashok Leyland: Buy at CMP, target ₹205, stop loss ₹167.

Ashok Leyland share price is looking bullish on chart patter as it has formed higher top higher bottom on the chart.

4] Tata Steel: Buy at CMP, target ₹128, stop loss ₹114.

Tata Steel share price is in bull trend with substantial rise in trade volume.

Ganesh Dongre’s stock picks for Friday

5] HDFC Life: Buy at ₹662, target ₹680, stop loss ₹650.

In the short-term trend, the stock has a bullish reversal pattern, technically retrenchment could be possible till ₹680. So, holding the support level of ₹650 this stock can bounce toward the ₹680 level in the short term. Hence, the trader can go long with a stop loss of ₹650 for the target price of ₹680.

6] Mahindra & Mahindra Finance: Buy at ₹312, target ₹323, stop loss ₹302.

On the short-term chart, the stock has shown a bullish reversal pattern, so holding the support level of ₹302 this stock can bounce toward the ₹323 level in the short term. Hence, the trader can go long with a stop loss of ₹302 for the target price of ₹323.

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.

Updated: 28 Jul 2023, 07:50 AM IST