28 Jun , 2022 By : Kanchan Joshi
On account of falling inflation expectations and easing of COVID-19 restrictions in China, the upside momentum continued in the India stock market with range bound action on Monday. Nifty 50 index added 132 points and closed at 15,832 levels whereas BSE Sensex surged 433 points and closed at 53,161 levels. Nifty Bank index ended 183 points higher at 33,811 levels.
According to stock market experts, the crucial overhead resistance of 15,800 levels (previous swing lows, as per the concept of change in polarity) has been taken out on the upside. But, the lack of further upside post upside breakout and a formation of range bound action subsequently after the opening could dampen the effort of bulls to sustain the highs.
Day trading guide for stock market today
Speaking on day trading guide for Nifty today, Nagaraj Shetti, Technical Research Analyst at HDFC Securities said, "The short term trend of Nifty continues to be positive. Display of lack of strength to sustain the highs during upside breakout is likely to result in further consolidation or downward correction from the highs. On the other side, a decisive upside move above 15,900 could open further upside towards another hurdle of 16200 levels."
Day trading stocks
Sharing intraday stocks for today, stock market experts — Rajesh Bhosale, Technical Analyst at Angel One Ltd; Mehul Kothari, AVP — Technical Research at Anand Rathi; Rohit Singre, AVP — Technical Research at Bonanza Portfolio and Anuj Gupta, Vice President at IIFL Securities — recommended 8 stocks to buy today.
Rajesh Bhosale's intraday stocks for today
1] NTPC: Buy around Rs138.50, target Rs142, stop loss Rs136.60
2] Ambuja Cements: Buy around Rs365, target Rs378, stop loss Rs359
Mehul Kothari's stock picks for Tuesday
3] Mphasis: Buy at Rs2340, target Rs2420, stop loss Rs2300
4] Havells India: Buy around Rs1102, target Rs1150, stop loss Rs1080
Anuj Gupta's day trading stocks to buy
5] Paytm: Buy at CMP, target Rs760, stop loss Rs668
6] LIC: Buy at CMP, target Rs740, stop loss Rs628
Rohit Singre's stocks of the day
7] CCL Products: Buy at CMP, target Rs400, stop loss Rs365
8] JSW Energy: Buy at CMP, target Rs230, stop loss Rs209.