These 8 stocks to buy or sell today

28 Mar , 2022 By : Kanchan Joshi

Last week, Indian stock market started on a flat note and consolidated within a range throughout the week. Nifty 50 index traded within the range of 17,000 to 17,450 and has ended the week around 17,150 with a weekly loss of about three-fourth of a per cent. According to market experts, Nifty has retraced 61.8 per cent of the previous correction and around this resistance; the lower time frame charts indicated a negative divergence between price and RSI.

Stock market experts believe that divergence around resistance usually leads to either a price wise correction or a time wise correction in the short term. "We witnessed a price wise correction in Bank Nifty during this week, but Nifty saw a time-wise correction and it consolidated in a broad range of 17000-17400 as the heavyweights such as Reliance, ITC and some IT and Pharma names showed strength and prevented a price wise correction in Nifty," said Ruchit Jain, Lead Research at 5paisa.com.

Day trading guide for stock market today

Speaking on intraday trading strategy in regard to Nifty today; Nagaraj Shetti, Technical Research Analyst at HDFC Securities said, "The underlying trend of Nifty continues to be range bound with weak bias. The broader uptrend status remains intact as long as Nifty sustains above 16.800 levels. A decisive decline below this area is likely to trigger downward correction and a sustainable move above 17,450 could open renewed buying interest in the market for this week."

Advising day traders to know their levels ahead of stock market opening bell today; Sumeet Bagadia, Executive Director at Choice Broking said, "Immediate support and resistance for Nifty 50 index is placed at 17,100 and 17,350 respectively whereas strong support for NSE Nifty is placed at 17,000 while major hurdle is placed at 17,500 levels. So, day traders can assume small range of Nifty between 17,100 to 17,350 while broader range of Nifty is placed in between 17,000 to 17,500 levels. Likewise broader range for Bank Nifty can be assumed between 34,700 to 36,300 while high risk traders can assume small range of the Nifty Bank index in between 35,100 to 35,700 levels.

Unveiling intraday trading strategy for today; Ruchit Jain of 5paisa.com said, "Until Nifty gives a breakout from 17,500 range, traders should look for stock specific trades where better opportunities are seen."

Day trading stocks

Sharing day trading stocks to buy today, stock market experts — Sumeet Bagadia of Choice Broking; Sneha Seth, Derivatives Analyst at Angel One Limited; Mehul Kothari, AVP – Technical Research at Anand Rathi Shares & Stock Brokers; Astha Jain, Senior Research Analyst at Hem securities; Avinash Gorakshkar, Head of Research at Profitmart Securities; Anuj Gupta, Vice President at IIFL Securities — recommended 8 stocks to buy today.

Sumeet Bagadia's day trading stocks to buy today

1] Pidilite Industries: Buy at CMP, target Rs2500 to Rs2525, stop loss Rs2390

2] Ashok Leyland: Buy at CMP, target Rs118 to Rs120, stop loss Rs108

Sneha Seth's intraday stocks to buy today

3] Godrej Properties: Buy at CMP, target Rs1690, stop loss Rs1575

4] Engineers India Limited: Buy at CMP, targtet Rs67.50, stop loss Rs36

Mehul Kothari's stock of the day

5] Indian Hotels: Buy at CMP, target Rs240, stop loss Rs219

Day trading stock pick by Astha Jain

6] MindTree: Buy at Rs4280, target Rs4580 and Rs4890, stop loss Rs3780

Anuj Gupta's stock pick for today

7] Bharti Airtel: Buy at CMP, target Rs760, stop loss Rs670