Indian stock market today: Day trading guide for Nifty 50 to Sensex, eight stocks to buy or sell today — Feb 27

Day trading guide for Indian stock market today: On account of weak global market sentiments, the Indian stock market ended lower on Monday. The Nifty 50 index lost 90 points and closed at the 22,122 level, the BSE Sensex dipped 352 points and ended at the 72,790 mark whereas the Bank Nifty index corrected 235 points and closed at the 46,576 level. In the broad market, the small-cap index fell less than the Nifty 50 index even as the advance-decline ratio fell to 0.64:1.

According to Indian stock market experts, the Nifty 50 index is in the 22,050 to 22,250 range and breakout on either side will provide a proper direction. On stocks to buy today, experts listed out eight buy or sell stocks — TVS Motor, HFCL, L&TFH, CUB, HUDCO, CDSL, Gujarat Fluorochemicals, and SONACOMS.

Day trading guide for stock market today

On the outlook for the Nifty 50 today, Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities said, “The near-term uptrend of the Nifty 50 index remains intact. Having faced a hurdle at 22,250 to 22,300 levels, there is a possibility of a minor dip in the market next week and that could be a buy-on-dips opportunity. Immediate support for Nifty today is placed at 22,040 levels.”

Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher said, “The Bank Nifty index as compared to the Nifty 50 index is witnessing sluggishness and with near-term support maintained near the 50EMA level of 46,200 zones, it would need to breach above the 47,300 band to trigger for fresh upward move.”

On the outlook for the Indian stock market today, Aditya Gaggar Director of Progressive Shares said, “With a bearish divergence in RSI, the Nifty 50 index has made a small bearish candle. The 50-stock index is oscillating in a range of 22,050 to 22,250 and breakout on either side will provide a proper direction.”

Nifty Call Put Option data

Speaking on the Nifty Call Put Options data, Chinmay Barve, Head of Technical and Derivative Research at Profitmart Securities said, “One of the major total Call open interest was seen at 22300 and 22500 strikes with total open interest of 139498 and 147503 contracts respectively. The strike price of 22200 saw one of the major open interest addition of 58873 contracts,” adding, “One of the major Put open interests was seen at 22000 and 21900 strikes with a total open interest of 136278 and 97725 contracts respectively. One of the major Put open interest additions was seen at 22100 strike which added 32393 contracts in open interest.”

Bank Nifty Call Put Option data

On Bank Nifty Call Put Options data, Chinmay Barve of Profitmart Securities said, “One of the major total Call open interest was seen at 46800 and 47000 strikes with total open interest of 102010 and 252013 contracts respectively in open interest. The strike price of 46700 saw one of the major additions of 55906 contracts in open interest,” adding, “One of the major total Put open interest was seen at 46500 and 46000 strikes with a total open interest of 136143 and 136701 contracts respectively. One of the major Put open interest additions was seen at 46600 strike which added 41208 contracts in open interest.”

Day trading stocks for today

On stocks to buy today, stock market experts — Sumeet Bagadia, Executive Director at Choice Broking; Ganesh Dongre, Senior Manager — Technical Research at Profitmart Securities; Shiju Koothupalakkal, Technical Analyst at Prabhudas Lilladher; and Mitesh Karwa, Research Analyst at Bonanza Portfolio — recommends eight stocks to buy or sell today.

Sumeet Bagadia’s stock recommendations

1] TVS Motor: Buy at ₹2162.10, target ₹2330, stop loss ₹2080.

TVS Motor share is presently trading at ₹2162.10 levels, bouncing from its initial support of ₹2080 levels which is also close to its 20 Day EMA levels. On the daily chart, the stock has formed a strong bullish candle indicating strength in the stock.

2] HFCL: Buy at ₹115.10, target ₹123, stop loss ₹111.80.

HFCL share price, currently trading at ₹115.10, is displaying a bullish trend characterized by higher highs and higher lows. This pattern, combined with substantial trading volume, indicates a growing interest in the market and the potential for further upward movement.

Ganesh Dongre’s stocks to buy today

3] L&TFH: Buy at ₹171, target ₹180, stop loss ₹167.

In the short-term trend, the stock has a bullish reversal pattern, technically retrenchment could be possible till ₹180. So, holding the support level of ₹167 this stock can bounce toward the ₹180 level in the short term. Hence, the trader can go long with a stop loss of ₹167 for the target price of ₹180.

4] CUB or City Union Bank: Buy at ₹135, target ₹144, stop loss ₹131.

In the short-term trend, the stock has a bullish reversal pattern, technically retrenchment could be possible till ₹134. So, holding the support level of ₹135 this stock can bounce toward the ₹144 level in the short term. Hence, the trader can go long with a stop loss of ₹135 for the target price of ₹144.

Shiju Koothupalakkal’s day trading stocks

5] HUDCO: Buy at ₹203.45, target ₹218, stop loss ₹198.

The stock after a short period of consolidation has improved the bias with a trend reversal indicated by rising volume participation and is expected to perform well in the coming days. We suggest buying the stock for an initial upside target of ₹218 keeping the stop loss of ₹198.

6] CDSL: Buy at ₹1900, target ₹1975, stop loss ₹1860.

The stock after the decline has once again shown improvement taking support near the significant 50EMA level of ₹1820 zone and indicating a decent pullback to improve the bias. With the RSI also signaling a buy with a trend reversal confirmed, we suggest buying the stock for an initial target of ₹1975 levels keeping the stop loss of ₹1860.

Mitesh Karwa’s buy or sell stocks

7] Gujarat Fluorochemicals: Buy at ₹3695 to ₹3698, target ₹3800, stop loss ₹3645.

Gujarat Fluorochemicals is seen to be breaking out of a bullish pattern formation on the daily timeframe and making a bullish candlestick which is why a buy recommendation is initiated for targets up to ₹3800. One can initiate a buy on a dip in the range of ₹3695 to ₹3698 with a stop loss below ₹3645 on a daily closing basis.

8] SONACOMS: Buy at ₹662 to ₹664, target ₹700, stop loss ₹640.

SONACOMS share price is seen to be breaking out of a resistance zone on the daily timeframe and making a bullish candlestick which is why a buy recommendation is initiated for targets up to ₹700. One can initiate buy on a dip in the range of ₹662 to ₹664 with stop loss below ₹640 on a daily closing basis

Disclaimer: The views and recommendations above are those of individual analysts, experts, and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decisions.