Monday Day Trading Guide: 6 Stocks to Buy or Sell Today – July 25
Daily Trading Guide: After a rally in bank stocks, strong global signals and short coverage by foreign institutional investors (FIIs), the Indian stock market has been rallying for the past six sessions. In the past five sessions, the Nifty 50 rose more than 4 percent and closed above 16,700 while the BSE Sensex rose 4.30 percent and finished over 56,000 marks. Among the sectoral indices, the banking sector showed a good performance led by heavyweight companies, which led to gains of about 6 percent in Nifty Bank. The mid-cap space has also seen buying interest in stocks.
According to stock market experts, a small positive candle has formed on the daily chart with a slight upper and lower shadow. This chart pattern indicates a narrow range movement in the market on rallies. The formation of small shadows indicates a slight confusion among market participants at the rallies.
Daily stock market trading guide today
Speaking on the outlook for SGX Nifty, Anuj Gupta, Vice President – Research at IIFL Securities said, “SGX Nifty is trading down 90 pips today but the overall trend for SGX Nifty today is positive. One should maintain the strategy of buying on dips and avoid taking any short position. SGX Nifty support is placed at 16,450 and 16,200 levels while it faces an obstacle at 16,800 and 17,020 levels.”
“Nifty’s short-term trend remains positive and there is still no sign of any reversal formation so far at the higher levels. But, having placed near the important general resistance around 16800 levels, there is a higher probability of a downward correction emerging from the Nagaraj Shetty, analyst said. Technical Research at HDFC Securities,
“FII covered some of its short positions in the index futures sector last week and the short covering has led to positive momentum. Next week, resistance will emerge around the 17,000 mark where we can see 61.8 per cent,” said Ruchit Jain, head of research at 5paisa. Corrective phase retracement level mentioned above.Since momentum readings have also approached overbought territory, it is wise to look to take profits now on long positions and pull some money out of the table.com.
daily stock trading
Daily Stock Sharing for Today, Stock Market Experts – Sumit Bajjadia, CEO, Choice Broking; Rajesh Possel, technical analyst at Angel One and Mehul Kothari, AVP – Technical Research at Anand Rathi – recommended a buy 6 shares today.
Sumit Baghadia daily stock for today
1]HDFC Bank: buy momentum at CMP price, target R1425 to R1450, stop loss R1360
2]Chambal Fertilizers: buy at CMP price, target R330 to R340, stop loss R310
Rajesh Bossell to buy shares today
3]Rain Industries: Buy around you R161.60, target R175, stop loss R154.40
4]United Spirits or MCDOWELL-N: Buy around you R844, target R880, stop loss R827
Mehul Kothari stock trading day to buy today
5]Bharti Airtel: Buy at R679, target R700, stop loss R665
6]Muthoot Finance: Buy from R1039, target R1080, stop loss R1020.
Disclaimer: The opinions and recommendations above are those of individual analysts or brokerages, and are not issued by the mint.
See all business news, market news, breaking news events and the latest news updates on the Live Mint. Download the Mint News app for daily market updates.
more less
Leave a Comment