22 Nov , 2021 By : Kanchan Joshi
The sharp downside momentum continued in the Indian stock market on Thursday. NSE Nifty dipped 133 points and closed at 17,764 whereas BSE Sensex slipped 372 points and closed at 59,636 levels. According to stock market experts, Nifty is now placed at the edge of the support of ascending trend line, which is connected through previous swing lows at 17,750 levels. This is not a good sign and this signal chance of downside breakout of the trend line support in the short term.
Day trading guide on NSE Nifty
Unveiling intraday trading strategy for Monday; Nagaraj Shetti, Technical Research Analyst, HDFC Securities said, "The short term trend of Nifty continues to be weak. The overall negative chart pattern as per daily and weekly chart signal that the present key support of 17,700 could be broken in the short term and that could open a larger downward correction down to 17,200 to 17,100 levels in the next few weeks. Any attempt of upside bounce from here could find resistance around 17,850 to 17,900 levels."
Day trading stocks to buy today
Sharing intraday stocks for today's session, stock market experts — Sumeet Bagadia, Executive Director at Choice Broking; Rohit Singre, Senior Technical Analyst at LKP Securities; Parth Nyati, Founder at Tradingo; Ravi Singhal, Vice Chairman at GCL Securities, Ravi Singh, Head of Research & Vice President at ShareIndia and Manoj Dalmia, Founder & Director at Proficient Equities Limited — recommended 10 stocks to buy today.
Sumeet Bagadia's intraday stocks for today
1] Strides Pharma Science or STAR: Sell at CMP, target Rs480 to Rs470, stop loss Rs510
2] State Bank of India: Buy at CMP, target Rs515 to Rs520, stop loss Rs490
Ravi Singhal's stock of the day
3] BPCL: Sell around Rs406, target Rs388, stop loss Rs412
Parth Nyati's stocks to buy or sell today
4] Axis Bank: Sell Axis Bank around Rs706, target Rs685, stop loss Rs715
5] BSE: Buy around Rs1603, target Rs1675, stop loss Rs1565
Ravi Singh's stock picks for Monday
6] Aarti Industries: Sell around Rs980, target Rs950, stop loss Rs1000
7] Bata India: Sell around Rs2160, target Rs2080, stop loss Rs2180
Rohit Singre's share to buy today
8] Varun Beverages or VBL: Buy around Rs947, target Rs970 to Rs985, stop loss below Rs930
Manoj Dalmia's intraday stocks for Monday
9] Sutlej Textiles And Industries: Buy at Rs77, target Rs89, stop loss Rs72
10] Elecon Engineering Company: Buy at Rs179, target Rs197, stop loss Rs172.