• Day Trading Guide: Large-cap stocks from the banking, IT and PSU space have contributed largely to the recent bullish move on Dalal Street.
Day's trading guide for today: After a muted session on Friday, both the Sensex and Nifty ended with modest gains, while the Bank Nifty index closed 91 points below the 43,000-level. The 50-stock index Nifty closed 28 points higher at 18,512, while the 30-stock index Sensex closed 20 points higher at 62,293.
According to market experts, on the weekly chart, Nifty formed a long bull candle with lower shadow. After crossing the hurdle of 18,100 level a few weeks back, the market has seen a decisive bounce this week to another resistance of 18,400 level and closed higher.
Today's day trading strategy for stock market
Speaking on the intraday trading strategy, Nagaraj Shetty, Technical Research Analyst, HDFC Securities said, "The underlying trend of Nifty remains positive. After crossing the important overhead resistance last week, Nifty is expected to move to new all-time high (up)". 18,606 level) in this week. A sustainable move above 18,600 level is likely to pull Nifty towards a new milestone of 18,950 in the near term (which is 0.786% Fibonacci retracement from June 22 low). , taken from the Sept. 22 top and Sept. 22 high. Below, as per the weekly chart).
"Large cap stocks from banking, IT and PSU space have contributed largely to this rally over the last few weeks. The midcap space has seen relatively underperformance of late as the index is still consolidating, but we have seen buying interest That could be early signs of broader market participation towards the end of the week in broader markets as well," said Ruchit Jain, Lead Research at 5paisa.com. Jain said the F&O rollover data has been strong with Nifty rollover at 82 per cent while Bank Nifty at 88 per cent. FIIs mostly rolled up long positions as they started the December series with a 'long short ratio' of 76 per cent.
Unveiling the day's trading strategy for Monday's session, Ruchit Jain of 5paisa.com said, "Technically, the 'higher top higher bottom' structure for the index continues to prevail and till we see the index find any significant support If we don't see any violation, the trend remains intact and hence the 'buy'-on-dip' approach should be continued."
nifty call put option data
"PE writers in Nifty series expiry option chain are actively adding to their positions at 18400PE/18500PE - OI of over 60 lakh shares, with highest new additions of OI of over 20 lakh shares at 18500PE. CE writer exposure is at 19000CE - Over 70 lakh shares OI, with maximum fresh risk exposure of over 40 lakh shares. PCR_OI at 18500 is hovering around 1, which looks interesting for BULLs, providing comfort for them to stay," said Shilpa Raut, Lead Analyst, Derivatives at Prabhudas Lilladher.
bank nifty call put option data
"The Bank Nifty options series, on a weekly basis, reflects a very aggressive 43000 straddle - over 40 lakh shares on the CE side and 30 lakh shares along the PE slate. The data thus constructed reflects a make or break for the index. In which target is at 45000 level otherwise fresh buying opportunity comes in 42000 zone," said Shilpa Raut.
day trading stocks to buy today
On intraday stocks for today, stock market experts - Sumeet Bagadia, Executive Director, Choice Broking; Anuj Gupta, Vice President - Research, IIFL Securities and Rajesh Bhosale, Technical Analyst, Angel One recommend 6 stocks to Buy today.
sumit bagadia intraday stock for today
1] Divi's Lab: Buy on CMP, target ₹3450, stop loss ₹3270
2] Eicher Motors: Buy CMP, target ₹3500 to ₹3550, stop loss ₹3350
Anuj Gupta's shares will be bought today
3] Wipro: Buy on CMP, target ₹425, stop loss ₹388
4] Punjab National Bank or PNB: Buy on CMP, target ₹63, stop loss ₹47
Will buy Rajesh Bhosle's shares today
5] Birlasoft: Buy around 294, target ₹309, stop loss ₹284
6] Promotion Motherson International or Motherson: Buy around ₹73.50, target ₹78, stop loss ₹71.60.
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