23 Nov , 2021 By : Kanchan Joshi
After showing weakness in the last few sessions, Indian stock market witnessed a decisive downside breakout on Monday. NSE Nifty crashed 348 points and closed at 17,416 levels while BSE Sensex plunged 1170 points and closed at 58,465 levels. Bank Nifty index too shed 847 points and closed at 37,128 levels. According to stock market experts, current pattern signal chances of further strengthening of downside momentum in the market.
On a day when the volumes on the NSE were a bit higher than recent average, all sectoral indices except telecom ended in the red. Realty, oil & gas, consumer durable and auto have fallen the most. Mid-cap and small-cap indices fell 2.6 per cent and 3 per cent respectively. Advance decline ratio was deeply in the negative.
NSE Nifty: Day trading guide for today
Speaking on day trading guide for Tuesday trade session; Nagaraj Shetti, Technical Research Analyst at HDFC Securities said, "The market seems to have entered into a sharp downward correction. The overall chart pattern as per smaller and larger timeframe is weak and more weakness could be in store in the near term. Having declined sharply from the highs, the minor pullback rally from the lows can’t be ruled out in the short term, before showing another round of weakness in the market. Further lower levels to be watched at NSE Nifty are 17,000 to 16,800 in the next few weeks."
Day trading stocks to buy today
Sharing day trading stocks for today, stock market experts — Ravi Singhal, Vice Chairman at GCL Securities; Ravi Singh, Head of Research & Vice President at ShareIndia and Rohit Singre, Senior Technical Analyst at LKP Securities — listed out these 4 stocks to buy or sell today.
Ravi Singhal's stock of the day
1] Ashok Leyland: Sell at Rs135, target rs120 and Rs111, stop loss Rs140
Ravi Singh's day trading stocks
2] Havells India: Buy at Rs1375, target Rs1400, stop loss Rs1350
3] DLF: Sell at Rs402, target Rs390, stop loss Rs410
Rohit Singre's intraday trading tips
4] NRB Bearings: Buy at CMP, target Rs175, stop loss Rs145.