Today's stock market trading during the day guide: six stocks to buy or sell on Friday, October 27

 Today's stock market trading during the day guide: six stocks to buy or sell on Friday, October 27

A guide to day trading in the current stock market: For the sixth consecutive session, Dalal Street saw losses on Thursday as FIIs liquidated ₹7,702 crore worth of Indian equities. However, when DIIs purchased shares worth ₹6,558 crore during the previous session, they significantly bolstered the Indian stock market. The BSE Sensex dropped 900 points and closed at 63,148, the Nifty 50 index lost 264 points and closed at 18,857, and the Bank Nifty index corrected 551 points and concluded at 42,280. The small-cap index dropped by 0.32 percent in the overall market, while the mid-cap index plummeted by 1.06 percent.

Today's day trading guidance

"The short-term trend of Nifty continues to be negative," said Nagaraj Shetti, Technical Research Analyst at HDFC Securities, about the prognosis for the Nifty today. Now that we are in the oversold area, there is a possibility that we may see an upward rebound from the lows. In the near future, the next downside of 18,500 to 18,600 levels might be opened by a strong fall below 18,800 levels.

"Bank Nifty after breaking below the 200 period MA made another weak a flame to touch the 42,100 zone with heavy revenue booking seen with most of the frontline banking securities stepping into their weak trend," stated Vaishali Parekh, Vice President — Technical Research during Prabhudas Lilladher, regarding the outlook for the index today. The next observable support zone, below which things might become worse, is about 41,500 levels.

Tips for intraday trading

Siddhartha Khemka, Head of Retail Research at Motilal Oswal, revealed the stock market strategy amidst a carnage on Dalal Street. She stated, "Given the global uncertainties, there currently could be higher volatility in the near term, giving long term investors the chance to accumulate quality stocks at lower levels." We advise allocating a larger portion of your portfolio to big caps since their valuations are reasonable and they have stable growth prospects.

Data for Nifty Call Put Options

Head of Technical and Derivative Research at Profitmart Securities, Chinmay Barve, commented on Nifty Call Put Option data, saying, "Major total Call open interest was found at 19000 and 19100 strikes with total open interest of 112408 as well as 69183 contracts respectively. "Major todal Put open interest was seen at 18800 as well as 18600 strikes with total open interest of 73998 - 44696 contracts respectively. Major Call open interest addition was seen at 19000 as well as 19100 strikes which added 106828 and 46868 contracts in open interest." At the 18800 strike, there was a significant increase in put open interest, adding 51009 contracts to the total."

Nifty Call Bank Chinmay Barve of Profitmart Securities said that the major total call open interest was noted at the 42500 and 43000 strikes with total open interest of 106053 as well as 122857 contracts, respectively. "Major total Put open interest was seen at 42300 as well as 42000 strikes with total open interest of 56204 or 66589 contracts respectively. Major Call open interest addition was recorded at 42500 strike, which added 102415 contracts in open interest." At 42300 and 41500 strikes, there was a significant increase in put open interest, adding 48567 and 66407 contracts, respectively."

Investing in stocks by day today

The following stock market experts have suggested six stocks to buy or sell today: Mitesh Karwa, research analyst at Bonanza Portfolio; Ganesh Dongre, senior manager of technical research at Anand Rathi; and Sumeet Bagadia, executive director at Choice Broking.

Intraday stocks recommended by Sumeet Bagadia for today: 1] Voltas: Buy at ₹829, goal ₹865, stop loss ₹808.

The Voltas share price technical analysis points to a generally promising future. After recently rising off a support level around ₹808 levels, VOLTAS is now trading at ₹828.90 levels. This rebound suggests that buyers are in the market at this point, which might provide the groundwork for future price increases.

Buy at 1910, objective 1985, stop loss 1865, according to the ACC.

The price of an ACC share is now at ₹1910. Following an extended period of decline, the price has created a neutral candlestick pattern near the bottom of the daily chart, suggesting a possible turnaround. Right now, the price is fluctuating between ₹1868 and ₹1920. The price may rise higher with targets at the ₹1960 and ₹1985 levels if it closes over ₹1868. On the other hand, 1865 serves as a crucial support level.

Ganesh Dongre's stock day trading 3] Avalon Technologies: Purchase at ₹490, aim for ₹530, and halt losses around ₹475.

The stock has a bullish reversal pattern in the short-term trend; theoretically, a reversal might occur up to ₹530. Therefore, if the stock maintains the ₹475 support level, it may rise in the near future to the ₹530 level. For the target price of ₹530, the trader may thus go long with a stop loss of ₹475.

4] McDowell-N: Purchase at ₹1010, aim for ₹1045, and halt loss at ₹990.

The stock is maintaining the ₹590 support level as it has shown a positive reversal pattern on the short-term chart. In the near future, this stock may rise toward the ₹1045 mark. For the target price of ₹1045, the trader may thus go long with a stop loss of ₹590.

Stocks purchased or sold by Mitesh Karwa 5] Buy around ₹1006 to ₹1012, objective ₹1065, stop loss ₹970, according to Xpro India.

Since the Xpro India share seems to be closing in the green and receiving support from a support zone, a buy recommendation is issued with objectives as high as ₹1065. On a daily closing basis, one might start buying on a decline in the region of ₹1006 to ₹1012 with a stop loss below ₹970.

Sixth: Antony Waste Handling Cell Ltd., also known as AWHCL: Purchase at ₹389 to ₹391, aim for ₹415, and halt loss at ₹376.

Buying is advised with goals up to ₹415 as the AWHCL share price seems to be breaking out of a pattern formation with a bullish candlestick on the weekly timescale, indicating strength. On a daily closing basis, a buy trade with a stop loss of ₹376 might be started in the area of ₹389 to ₹391.