5 stocks to buy or sell today — March 7
Daily trading guide for Monday: After showing weakness at higher levels against the 16,800-level hurdle on Thursday, India’s stock market ended lower for the third straight session on Friday as fears over the Russian-Ukrainian conflict refused to ease. . The Nifty 50 index lost 252 points and closed at 16,245 while BSE Sensex finished 768 points lower at 54,333 levels. The Nifty Bank Index fell 536 points and closed at 34,407 levels. According to secondary market experts, the current trading pattern indicates the continuation of the downward trend in Dalal Street. They advised traders to identify themes and look for trading opportunities on both sides of the trade.
Day Trading Guide: What Global Signals Signal
Expect a weak opening on Monday; Anuj Gupta, Vice Chairman of IIFL Securities, said: “As the geopolitical tension is not set to ease, the Dow Jones Futures and the SGX Nifty Live Index are under selling fire. So the Indian secondary market today might open lower.”
Anuj Gupta of IIFL Securities said immediate support for SGX Nifty is placed at 15,800 while it faces immediate resistance at 16,460 levels.
Daily trading guide for the stock market today
Speaking on day trading guide for Nifty today; Nagaraj Shetti, Technical Research Analyst at HDFC Securities, said: “The formation of a range move at the lower high eventually resulted in a break lower. The overall chart pattern signals further weakness for the upcoming Nifty and new lows around 15,800 could be seen in the next 1-2 weeks Immediate resistance to watch at NSE Nifty is placed at 16,400 levels.
Share the intraday trading strategy; Ruchit Jain, Head of Research at 5paisa.com, said: “News coming from global geopolitical developments are likely to drive short-term market moves, but until reversals are seen, traders short-term should avoid bottom fishing and stay light on positions.The Indian VIX is still high around 28, which needs to drop back below 24 for some stability.Many thematic approaches played out during the week, during which the banking and financial space saw deep cuts due to short formations while the bullish move in base metals led to a sharp rise in metal stocks It is important for traders to identify these themes and look for trading opportunities on both sides of the market.
Unveiling of important levels for Nifty and Bank Nifty today; Sumeet Bagadia, Executive Director of Choice Broking, said: “The wider range for the NSE Nifty 50 Index today is 16,000 to 16,500, while for high-risk traders the short range for the NSE Nifty will be from 16,100 to 16,400. Similarly, the small range for Bank Nifty today will be 34,000 to 35,000 while the wider range for the Bank Index will be 33,900 to 35,300.”
Day trading stocks
Sharing day trading stocks to buy or sell today, stock market experts – Sumeet Bagadia of Choice Broking; Anuj Gupta of IIFL Securities and Avinash Gorakshkar, Head of Research at Profitmart Securities – recommended 5 stocks for intraday traders.
Day trading in Sumeet Bagadia shares for today
1]Indian Hotels: Sell to CMP, target ₹180, stop loss ₹199
2]Tech Mahindra: Buy from CMP, target ₹1500, stop loss ₹1420
Anuj Gupta’s intraday stock to buy today
3]Tata Teleservices (Maharashtra) Limited or TTML: Buy from CMP, objective ₹120, stop loss ₹90
4]Adani Wilmar Ltd or AWL: Buy from CMP, objective ₹400. stop loss ₹330
Avinash Gorakshkar’s stock of the day
5]Bharat Electronics Ltd or BEL: Buy from CMP, objective ₹225, stop loss ₹210.
Warning: The opinions and recommendations made above are those of individual analysts or brokerage firms, and not of Mint.
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