Six stocks to buy or sell today, Thursday, October 19: Day trading advice

 Six stocks to buy or sell today, Thursday, October 19: Day trading advice

Today's day trading guide: The Indian stock market concluded Wednesday's session down as a result of dismal market sentiment globally. The Nifty 50 index lost 140 points and concluded the day at 19,671 levels, the BSE Sensex gained 551 points and completed the day at 65,877 levels, and the Bank Nifty index lost 520 points and ended the day at 43,888 levels. Small-cap index down 0.32%, while mid-cap index fell 0.85 % on the overall market.

Day trading advice for the current stock market

Nagaraj Shetti, a technical research analyst at HDFC Securities, commented on the prognosis for the Nifty today, saying, "The short term trend of Nifty looks to have reverted down, after demonstrating a range bound behavior. Nifty is expected to drop around 19,400 to 19,350 levels in the near future if more weakening continues from here. 19,750 levels are designated as immediate resistance.

The RSI oscillator in the Bank Nifty index has provided a negative crossing, thus momentum there may be on the negative side, according to Ruchit Jain, Lead Research at 5paisa.com. Trading should become cautious and traders should stay away from aggressive trading for directional swings until we see any momentum in the banking sector once again.

Data for Nifty Call Put Options

The head of technical and derivative research at Profitmart Securities, Chinmay Barve, commented on Nifty Call Put Option data by saying, "Major total Call open interest was observed at 19700, 19800, and 19900 strikes with total open interest of 197233, 326146, and 269375 contracts respectively. Major total Put open interest was noted at 19600 and 19500 strikes with complete open interest of 192615 and 176357 contracts, accordingly. Major total Call open interest addition was viewed at 19700 and 19800 strikes with additions of 154782 and 183140 contracts in open interest. Major Put open interest additions of 61098 and 58719 contracts were seen near the 19550 and 19450 strikes, respectively.

Data on the Bank Nifty Call Put Option

"The 44000 and 44500 strikes had the most total open interest, with 109262 and 165129 contracts, respectively. "Major total Put open interest was observed at 44000 and 43800 strikes with total open goals of 115739 and 48069 contracts respectively. Major total Call open interest was seen at 44000 and 44500 strikes with additions of 88771 and 80040 contracts in open interest, respectively. At the 44000 strike, there was a significant increase in put open interest, adding 48918 contracts in each case.

Today's day trading stocks

Stock market experts Sumeet Bagadia, Executive Director at Choice Broking, Executie Director beginning at Choice Broking, Ganesh Dongre, Vice President — Technical Research at Anand Rathi, as well as Mitesh Karwa, Research Analyst at Bonanza Portfolio, suggested six stocks to buy today when it comes to intraday stocks.

Today's intraday equities recommended by Sumeet Bagadia are as follows: 1] Cipla: Buy at $1210; target: $158; stop loss: $1180.

Strong technical indications in the Cipla share price point to a promising trading opportunity. The company just had a breakthrough in the daily period, which, together with a strong support level around 1200, confirms its potential for growth. The fact that Cipla has maintained its position above significant moving averages, such as the 20, 50, 100, and 200-day EMAs, highlights the strength of its bullish momentum. The ADX is noticeably strong at 23, further confirming a strong trend, while the RSI is on an upward trend at 58, suggesting growing strength in price movement.

2] Buy Tata Motors at $668.50; set a stop loss of $650.

The price of a Tata Motors share is now 668.50. The share price of Tata Motors has recovered from the key support level of $655. The stock is now rising above the 20, 50, and 200 Day EMA levels. Strong volumes and upward stock movement indicate strength. A stock's decline may provide a purchasing opportunity. The stock is now positive as the RSI momentum indicator is close to 67 levels. The stock's all-time high, at 678 levels, is where a little resistance is situated. The stock might move in the direction of the objective of 695 levels and higher if it overcomes the aforementioned barrier.

Tata Motors may be purchased with a medium-term view at a CMP of $668.50 and an SL of $650 for a target price of $695.

Stocks to purchase today from Ganesh Dongre 3] Godfrey Phillips: Buy at 2231; set a stop loss at 2250; and aim for 2400.

The company has a positive reversal pattern in the short-term trend, and because technical retrenchment is conceivable up to 2400, maintaining the support level of 2250 will allow this stock to briefly rebound toward that level. Therefore, the trader may buy with a target price of 2400 and a stop loss of 2250.

4] Buy Quess Corp at $443; target is $455; stop loss is $433.

The stock has shown a positive reversal pattern on the short-term chart and is now holding at the support level of $433. The trader might go long with a stop loss of 433 and a target price of 455 since this stock may rebound toward that level in the near future.

Stocks purchased or sold by Mitesh Karwa 5] Buy at $40.50 to $40.60, goal $44 and stop loss $38.70, advises Radhika Jeweltech.

A buy recommendation is issued for targets up to 44 as Radhika Jeweltech's share price is judged to be breaking out of a bullish trend and closing in the green. On a daily closing basis, one may start a purchase on a decline in the region of 40.5 to 40.9 with a stop loss below 38.7.

6] Buy Vimta Labs from $580 to $586 with a target price of $615 and a stop loss of $568.

purchasing is advised for goals up to $615 as the share price of Vimta Labs is observed to be breaking out of a pattern formation with a bullish candlestick on the daily timeframe, which suggests strength. On a daily closing basis, a buy trade may be started with a stop loss of 568 and a range of 580 to 586.