27 May , 2022 By : Kanchan Joshi
After weak opening on Thursday session, Indian stock market bounced back strongly and closed in green zone after a gap of four sessions. Nifty 50 index surged 144 points and closed at 16,170 levels while BSE Sensex shot up 503 points and closed at 54,252 mark. Nifty Bank index ended 755 points higher at 35,094 levels. However, volumes on the F&O expiry day were the lowest in 5 monthly expiries.
According to stock market experts, Nifty has found support around 15,900 levels and it has rallied sharply from there. The 50-stock index has moved above the 20 and 50 period MA (moving average), which indicates strength for the near term.
Day trading guide for stock market today
Speaking on day trading strategy for Nifty today, Subash Gangadharan, Senior Technical and Derivative Analyst at HDFC Securities said, "While we remain open to a pullback rally in the very near term, we must remember that the intermediate trend remains down. The bears would gain more control once the recent intermediate low of 15,735 is broken. We recommend a stock specific approach and recommend buying stocks from sectors that are showing relative strength."
Day trading stocks
Sharing intraday stocks for today, stock market experts — Mehul Kothari, AVP — Technical Research at Anand Rathi and Avinash Gorakshkar, Head of Research at Profitmart Securities — recommended 4 shares to buy today.
Mehul Kothari's intraday stocks for today
1] India Cements: Buy around Rs169, target Rs177, stop loss Rs164
2] HDFC: Buy around Rs2290, target Rs2350, stop loss Rs2250
Avinash Gorakshkar's day trading stocks to buy today
3] State Bank of India or SBI: buy at CMP, target Rs495, stop loss Rs456
4] Vedanta or VEDL: Momentum buy at CMP, target Rs338, stop loss Rs301.
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