Day Trading Guide For Tuesday: 7 Stocks To Buy Or Sell — 17th May

Day trading guide for Tuesday: Indian stock market on Monday started the day marginally positive and consolidated within a broad range throughout the day. The Nifty 50 index ended 60 points higher at 15,842 levels whereas BSE Sensex surged 180 points and closed at 52,973 mark. Bank Nifty index shot up 476 points and touched 33,597 levels. Volumes on the NSE were the, lowest in almost 3 months. BSE Small-cap and Mid-cap indices outperformed the key benchmark indices rising 1.15 per cent and 1.51 per cent respectively.

Day trading guide for stock market today

Speaking on day trading guide for Nifty today, Ruchit Jain, Lead Research, said, “Nifty ended today’s session with a ‘Doji’ candlestick on the daily chart. This pattern indicates indecision, but given that the index was not able to surpass its hurdles inspite of positive market breadth is not a good sign. However, if we look at last three trading sessions, the index has consolidated within a range wherein 15735 have acted as a support. The previous swing low of March 2022 is also around 15670 and thus, 15670-15735 is the important support zone now for the index. On the flipside, the recent downtrend has been so strong that inspite of oversold set ups, we have not seen any strength to pull the indices higher. Only if the index closes above 16000 mark, then we could expect a price-wise pullback in the short term.”

“Traders should continue to stay cautious and avoid any aggressive contra bets. Above 16000, immediate levels to watch would be around 16125 and 16210 while a breach of the above mentioned support could lead to a sell-off towards 15450,” Ruchit Jain of concluded.

Day trading stocks

Sharing intraday stocks for today, stock market experts — Sumeet Bagadia, Executive Director at Choice Broking; Rajesh Bhosale, Technical Analyst, Angel One Ltd; Mehul Kothari, AVP — Technical Research at Anand Rathi and Anuj Gupta, Vice President at IIFL Securities — recommended 7 shares to buy or sell today.

Sumeet Bagadia’s day trading stocks to buy today

1] Raymond: Buy at CMP, target 850 to 875, stop loss 775

2] Coal India: Buy at CMP, target 180 to 185, stop loss 164

Rajesh Bhosale’s intraday stocks for today

3] Kotak Mahindra Bank: Buy around 1813, target 1895, stop loss 1778

4] Apollo Hospitals: Buy around 3687, target 3880, stop loss 3590

Mehul Kothari’s stocks to buy today

5] State Bank of India or SBI: Buy above 460, target 475, stop loss 450

6] Bajaj Finserv: Buy above 12,650, target 13,150, stop loss 12,450

Anuj Gupta’s stock of the day

7] Equitas Holdings: Buy at CMP, target 125, stop loss 97.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.

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