Home Top Global NewsMarkets Day trading guide for Thursday: 6 stocks to buy or sell today — 1st September

Day trading guide for Thursday: 6 stocks to buy or sell today — 1st September

by Ozva Admin

Daily trading guide for Thursday: After showing strong weakness against the backdrop of weak global signals on Monday, the Indian stock market witnessed an excellent recovery on Tuesday and closed the day with strong gains. The Nifty 50 Index finished 446 points higher at 17,759, BSE Sensex rose 1,564 points and closed at 59,537, while the Nifty Bank Index soared 1,260 points and closed at 39,536 levels.

According to stock Exchange experts, Nifty has regained most of the lost ground and is now near the important downtrend line resistance around the 17850-17900 levels. After a failed bullish breakout of this hurdle in mid-August, the market is now gearing up for a decisive bullish breakout of that trendline hurdle. The long bullish candlestick formation on Tuesday could be an early sign of a possible breakout to the upside.

Day trading guide for today’s stock market.

Speaking about the Nifty 50 Index, Nagaraj Shetti, Technical Research Analyst at HDFC Securities, said: “Nifty appears to have reversed the recent downtrend to the upside. Now, the bulls are ready to show a big bullish breakout of resistance around 16,900”. levels for this weekend or for next week. A decisive move above the 17,900 levels could push Nifty towards the next upside target of 18,300-18,400 in the coming weeks. Immediate support for NSE Nifty is located at the 17,600″ levels.

On the Nifty call put data, Shilpa Rout, Lead Derivatives Analyst at Prabhudas Lilladher, said: “The market again surprises positively, with a rebound stronger than ever. The NIFTY options chain for weekly expiry reflects that the writers CE writers aggressively add over 2 lakh contracts at 18000CE, followed by over a lakh contracts at 17800CE/17900CE as well.PE writers stand out at 17300PE/17500PE/17600PE, with over a lakh contracts each, suggesting strong support base at immediate levels.PCR OI at 17600 being above 2, also a strong positive for BULLs now.”

“Bank Nifty Future Option chain on PE issuers is active at 39000PE, with over 90,000 contracts, with CE issuers aggregating their positions at strike 41,000, with a lakh contracts overall each, followed by 40,000CE , more than 90,000 contracts”. Shilpa Rout said.

stock trading day

Speaking about intraday stocks for today, stock market insiders: Anuj Gupta, vice president of research at IIFL Securities; Mehul Kothari, Executive Vice President of Technical Research at Anand Rathi and Vaishali Parekh, Vice President of Technical Research at Prabhudas Lilladher, recommended 6 stocks to buy today.

Anuj Gupta Intraday Actions for Today

1]Ashok Leyland: Buy at CMP, target $165, stop loss $143

2]Axis Bank: Buy at CMP, target $780, stop loss $710

Mehul Kothari’s stock picks for Thursday

3]IRCTC: Buy at $710 target $730, stop loss $700

4]Raymond: Shop at $961 target $985, stop loss $950

Vaishali Parekh’s Day Actions

5]Prestige TTK: Buy in $961 target $1200, stop loss $890.

Disclaimer: The opinions and recommendations made above are those of individual analysts or brokerage firms, and not of the Mint.

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