02 Mar , 2022 By : Kanchan Joshi
After showing an excellent comeback on Friday, Indian stock market displayed another attempt of sharp upside bounce from intraday lows on Monday and closed the day in green territory. NSE Nifty shot up 135 points and closed at 16,793 levels whereas BSE Sensex ended 388 points higher at 16,793 levels. However, Bank Nifty shed 225 points and closed at 36,205 levels. According to stock market experts, current market pattern indicates volatility with positive bias and hence 'buy on dips' should be the ideal strategy for intraday traders.
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 remains positive with range bound action. Any decisive upside breakout at NSE Nifty above 17,000 levels is likely to pull Nifty towards 17,500 levels in a quick period of time. However, an inability of bulls to sustain above 16,800 levels could trigger another round of downward correction to 16,300 levels in the near term."
Day trading stocks
Sharing day trading stocks for today, stock market experts — Sumeet Bagadia, Executive Director at Choice Broking; Avinash Gorakshkar, Head of Research at Profitmart Securities and Anuj Gupta, Vice President at IIFL Securities — recommended 6 stocks to buy today.
Sumeet Bagadia's day trading stocks to buy today
1] ICICI Bank: Buy at CMP, target Rs760 to Rs775, stop loss Rs720
2] Larsen & Toubro: Momentum buy at CMP, target Rs1875 to Rs1900, stop loss Rs1775
Avinash Gorakshkar's intraday trading stocks
3] Hindalco Industries: Buy at MP, target Rs600, stop loss Rs558
4] Tata Steel: Buy at CMP, target Rs1260, stop loss Rs1195
Anuj Gupta's day trading stocks for Wednesday
5] Axis Bank: Momentum buy at CMP, target Rs800, stop loss Rs699
6] Adani Wilmar: Buy at CMP, target Rs430, stop loss Rs340.
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