Day Trading Guide for Friday: 6 Stocks to Buy or Sell Today – April 8
Today’s trading guide for Friday: Following weak global indices and overnight losses in US markets, the Indian stock market ended in red territory for the third straight session on Thursday. The Nifty 50 index fell 168 points and closed at 17,639 while BSE Sensex finished 575 points lower at 59,034 levels. The Nifty Bank Index lost 75 points and closed at 37,557 levels.
According to stock market experts, the secondary market is currently driven by non-institutional players who have started taking profits aggressively in the face of the US Fed’s balance sheet reduction. They expected little build-up for Friday’s session as today’s RBI monetary policy meeting may not bring a positive surprise.
Daily trading guide for the stock market today
On the ideal day trading strategy for today; Deepak Jasani, head of retail research at HDFC Securities, said: “Nervousness spread across markets on Thursday as the anticipated rate of decline fell below 1:1 after 4 Currently markets are led by non-institutional players who started aggressively taking profits on the face of the US Fed balance sheet reduction and ahead of the RBI policy meeting Nifty is now expected to take support from the 17,442 band at 17,519. Friday’s RBI MPC meeting may not bring a positive surprise and so there appears to be little build-up ahead of it.”
Speaking on the day trading guide regarding the Nifty Index and Nifty Bank; Mehul Kothari, AVP – Technical Research at Anand Rathi Shares & Stock Brokers, said, “The wider range for Nifty today is between 17,600 and 17,850, while a smaller range for the 50-stock index is placed between 17,550 and 17,800. Similarly, a wider range for the Nifty Bank Index is placed between 37,200 and 38,300, while the short range for the Bank Nifty Index can be between 37,500 and 38 000 levels.”
Day trading stocks
Share of intraday stocks for today, stock market experts; Mehul Kothari of Anand Rathi Shares & Stock Brokers; Avinash Gorakshkar, Head of Research at Profitmart Securities and Anuj Gupta, Vice President – Research at IIFL Securities – recommended 6 stocks to buy today.
Mehul Kothari Intraday Stocks for Today
1]HDFC Bank: Buy from CMP, objective ₹1625, stop loss ₹1450
2]Sunteck Realty: Buy from CMP, objective ₹530, stop loss ₹450
Avinash Gorakshkar’s actions for today
3]Axis Bank: Momentum buy at CMP, target ₹825, stop loss ₹778
4]LIC housing finance: buy from CMP, objective ₹410, stop loss ₹385
Anuj Gupta shares to buy today
5]Yes Bank: Buy from CMP, target ₹23, stop loss ₹9
6]Indian hotels: buy from CMP, objective ₹290, stop loss ₹224.
Warning: The opinions and recommendations made above are those of individual analysts or brokerage firms, and not of Mint.
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