7 stocks to buy or sell today – September 29
Wednesday Daily Trading Guide: After showing a consolidation type move in the previous two sessions, Nifty experienced high volatility on Tuesday and closed the day 106 points lower at 17,748 levels. BSE Sensex lost 410 points and closed at 59,667 levels. Minor attempts to rally the upside between the two were used to go short on the highs and this action continued for much of the session. According to stock market experts, this trading structure indicates large-scale profit taking from recent NSE Nifty highs of 17,947 levels. The strong bullish rally in the latter part of Tuesday’s session signals the absence of any significant trend reversals at highs.
A day when the volumes on the NSE were a little above the recent average; the energy, oil and gas and metals indices advanced the most, while the real estate, computer and telecommunications indices fell the most. The BSE mid and small cap indices ended lower, each down more than 0.5%.
Commercial view on NSE Nifty
Speaking on the day trading strategy for Wednesday; Nagaraj Shetti, Technical Research Analyst at HDFC Securities, said: “The market has again encountered resistance to new highs and recorded strong intraday profit taking. Nifty’s short term trend setup is still positive and buying can be expected to emerge in the next 1-2 sessions. The immediate supports to watch for NSE Nifty are between 17,650 and 17,575 levels. “
Day trading stocks today
Unveiling of Day Trading Stocks to Buy, Stock Market Experts – Sumeet Bagadia, Executive Director of Choice Broking; Ravi Singhal, vice president of GCL Securities; Sandeep Matta, founder of TRADEIT Investment Advisors; Dr Ravi Singh, founder and director of DRS Advisory; Manoj Dalmia, Director and Founder of Proficient Equities Private Limited and Kapil Goenka, Founder of Eternity Financial Services – recommended 7 intraday stocks for today.
Sumeet Bagadia day trading shares to buy
1]Dr Reddy’s laboratories: Dynamic purchasing at CMP, objective ??4950 to ??5000, stop loss ??4725
2]Indian Oil Corporation or IOC: Buy from CMP, target ??126 to ??130, stop loss ??118
Ravi Singhal’s action of the day
3]Info Edge (India) Ltd or Naukri: Buy from CMP, target ??7200, stop loss ??6700
Ravi Singh stock to buy today
4]Bharat Heavy Electricals Limited or BHEL: Will buy ??60, target ??68, stop loss ??58
Sandeep Matta stock to buy today
5]Gujarat gas: Will buy ??618, target ??640 to ??670, stop loss ??590
Manoj Dalmia intraday stock for today
6]Power Finance Corporation or PFC: Buy on ??143, target ??149, stop loss ??140
Daily actions of Kapil Goenka
7]Tamilnadu Petroproducts or TNPETRO: Buy on ??130, target ??140, stop loss ??123.
Disclaimer: The opinions and recommendations expressed above are those of individual analysts or brokerage firms, not Mint.
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