12 Aug , 2021 By : Kanchan Joshi
Indian benchmark indices had another roller-coaster day on Wednesday even as the indices recovered from the morning lows to end almost flat. NSE Nifty ended 2 points higher at 16,282 while BSE Sensex shed 28 points and closed at 54,525 levels. On a day when volumes were in line with recent averages, metals, oil & gas and power stocks gained the most, while healthcare and banking stock fell the most. Foreign Institutional Investors (FIIs) ended up adding Rs238 crore in their portfolio while Domestic Institutional Investors (DIIs) added Rs206 crore in the Indian markets on Wednesday.
Global shares hit record highs on Wednesday after data showed US consumer price increases slowed in July, easing concerns that the Federal Reserve will imminently signal a scaling back of bond purchases. At Wall Street, Dow Jones closed 0.62 per cent higher while Nasdaq shed 0.16 per cent on Wednesday.
Trade view on Nifty
Speaking on day trading guide for Thursday; Nagaraj Shetti, Technical Research Analyst at HDFC Securities said, "The short term trend of Nifty continues to be range bound with volatile movement and similar market action is expected to continue for the next session. Nifty is currently placed at the support of 16,150 levels and could possibly make another upside attempt towards 16,350 in the next session. Immediate support is placed at 16,180 levels."
Day trading stocks to buy today
Unveiling day trading strategies for Thursday, stock market experts — Sumeet Bagadia, Executive Director at Choice Broking; Mudit Goel, Senior research Analyst at SMC Global Securities and Sandeep Matta, Founder at TRADEIT Investment Advisors — recommended 6 shares to buy today.
Sumeet Bagadia's stocks to buy today
1] Pidilite Industries: Buy at CMP, target Rs2310 to Rs2340, stop loss Rs2210
2] Tata Steel: Momentum buy at CMP, target Rs1470 to Rs1500, stop loss Rs1370
Mudit Goel's day trading stock
3] Vedanta: Buy at CMP, target Rs333, stop loss Rs318
Sandeep Matta's shares to buy today
4] Prakash Industries: Buy at Rs73, target Rs79 to Rs82, stop loss Rs65
5] MSTC: Buy at Rs260, target Rs275 to Rs283, stop loss Rs245
6] Star Paper: Buy at Rs154, target Rs165 to Rs173, stop loss Rs138.
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