Today's day trading guide: Indian stock markets ended lower for the third consecutive day on Thursday due to weak global data. The Nifty 50 index fell by 109 points to close at 21,462 levels, the BSE Sensex index fell by 313 points to close at 71,186 levels and the Nifty Bank index fell by 350 points to close at 45,713 levels. In the overall market, the small-cap index ended slightly higher, while the mid-cap index ended slightly lower.
“Nifty continued its downward trend amid HDFC Bank selling pressure and weak global cues.The index ended 110 points down at 21462 levels.Sector-wise, pharma, oil & gas, real estate Motilal Oswal Head of Retail Research Siddhartha Khemka said, “Strong US retail sales data and hawkish tone from US Federal Reserve speakers.'' His comments surprised investors around the world.”
Today's stock market day trading guide
Commenting on the outlook for the Nifty 50 index, Nagaraj Shetty, senior technical research analyst at HDFC Securities, said, “Nifty's short-term trend remains weak. Since it has fallen sharply, there is a possibility of a rebound in the short term.” “The rally is expected to be a selling opportunity. It is noted that the key resistance lies at the 21700-21800 level. The key downside support for Nifty today lies at the 21200-21000 level.”
Commenting on the outlook for Bank Nifty today, Kunal Shah, Senior Technical & Derivatives Analyst, LKP Securities said, “The bears continued to dominate the Bank Nifty index, leading to a decline of 0.76% in the index. Immediate support is located at $45,500. Despite the potential for short-term volatility, the broader trend continues to support a “sell on the rise” approach, and when mentioned, signals caution and the possibility of further declines. The resistance level is not convincingly violated. ”
Commenting on today's outlook for the stock market, Siddhartha Khemka of Motilal Oswal said, “Amid global uncertainty, we expect the market to consolidate within a narrow range on the upside.Today, we look at Reliance, Nifty majors such as HUL and Ultratech are scheduled to announce their financial results.” That could move the index on either side. ”
Prohibited food and drink list
13 stocks were added to the F&O prohibited list. The 13 stocks are ABRFL, Ashok Leyland, Balrampur Chini, Bandhan Bank, Delta Corp, Hindustan Copper, IEX, Metropolis, NALCO, Polycab, PVR INOX, SAIL and ZEEL.
FII DII data
In the cash sector, FIIs sold equivalent amounts of Indian stocks. INRDII purchased shares worth 990.156 billion yen INR5,977,120,000. In the F&O index futures segment, FIIs sold significant stakes. INRDII sells shares worth $250.839 billion INR45,354,820,000.
Nifty call put option data
Chinmay Babu, Head of Technical Derivatives Research at Profit Mart Securities, said of Nifty's call/put option data, “The main total call open interest is seen at 21,700, 21,800, and 22,000 strikes; They were 90,705, 101,056, and 136,019.” One of the major call open interest additions was seen at 21,500 and 21,600 strikes, which added 56,356 and 40,541 contracts to open interest, respectively. ”, adding, “The major total put open interest was seen at 21,400, 21,200 and 21,000 strikes, and the total open interest was 81,343,” with 62,156 and 106,536 contracts respectively. One of the major put open interest additions was seen at the 21400 and 21200 strikes, where open interest was added by 45884 and 30919 contracts, while the 21600 strike decreased open interest by 7211 contracts. ”
Bank Nifty Call Put Option Data
Regarding Bank Nifty's call-put option data, Barb further said, “The major call open interest was seen with exercise of 46000 and 46500 contracts, with total open interest of 115927 and 103229 contracts respectively.” he added. His one of the major call open interest additions was seen at strikes of 46,000 and 47,000 contracts, with 71,206 contracts and he added open interest of 68,262 contracts. ”, adding, “Major total put open interest was seen at strikes of 45,500 and 45,000 contracts, and total open interest was 82,268 and 89,329 contracts, respectively. One of the major put open interest additions added 33,437 contracts to open interest. It was seen at 45,500 strikes.”
Today's day trading stocks
Stock market experts on what stocks to buy today – Sumeet Bagadia, Executive Director, Choice Broking. Mr. Ganesh Dongre, Senior Manager — Technical Research at Anand Rathi. Drumil Vithlani, Technical Research Analyst at Bonanza Portfolio and Shiju Koothupalakkal, Technical Analyst at Prabhudas Lilladher, have recommended his 6 stocks to buy or sell today.
Sumeet Bagadia's Intraday Stocks Today
1]MGL: buy at INR1301.55, target INR1370, stop loss INR1253.
MGL stock price, current trading price INRThe 1301.55 level remains comfortably above the important 20-day, 50-day, and 200-day exponential moving averages (EMAs), indicating a solid technical stance. The recent consolidation phase within the 1240-1270 levels has laid the foundation for a potential upward move, highlighted by the emergence of a bullish candlestick pattern on the daily chart. The important points to note are: INRThe 1330 level marks a pivotal milestone for MGL. Successfully breaking through this resistance can act as a catalyst, propelling the stock price toward its goal. INRPossibly higher than 1370 level. It is very important for investors to closely monitor the stock's performance around this resistance level, as this is key to determining whether positive momentum will continue in the short term.
2] tata motors: buy at INR819, target INR860, stop loss INR793.
Tata Motors stock shows strong bullish momentum and is currently trading at an all-time high INR819.05 level.Breakout above recent key resistance INRThe 815 level is a significant technical development supported by solid trading volumes, reinforcing the stock's strength. This jump suggests the uptrend could continue, giving investors optimism.
Ganesh Dongre's Stock of the Day
3]Sun Pharma: buy at INR1338, target INR1365, stop loss INR1320.
In the short-term trend, Sun Pharma stock is showing a bullish reversal pattern and a contraction could technically be possible till the next period. INR1365. Therefore, if we maintain the support level, INR1320 This stock is INR1365 level in the short term. Therefore, traders can set a stop loss and go long. INRTarget stock price is 1320 INR1365.
Drumil Vithlani Stocks to Buy Today
Four] Lupin: buy at INRFrom 1422 INR1426, target INR3650, stop loss INR1390.
A breakout of the rectangle pattern has been witnessed in Lupine Limited. A gradual increase in volume indicates that buyers are interested in purchasing the security. The price is trading above the short-term EMA (50), indicating an uptrend for the security. On the indicators front, a breakout in the Relative Strength Index (RSI) indicates that the security is currently in bullish mode and is trading above the 60 level.
Buying and selling shares of Shiju Koothupalakkal
5]HBL power: buy at INR478.60, target INR494, stop loss INR472.
HBL Power stock has seen a surge in volume, indicating an upward trend in the short term.
6]Suzlon Energy: buy at INR42.90, target INR45, stop loss INR41.50.
Suzlon stock looks solid in its chart pattern, and the stock is gradually increasing in trading volume, indicating an upward trend in the short term.
Disclaimer: The views and recommendations expressed above are those of individual analysts or brokerages and not of Mint. We recommend checking with a certified professional before making any investment decisions.
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