16 Aug , 2021 By : Kanchan Joshi
After placing at the edge of an upside breakout of smaller high low ranges at 16360 levels on Thursday, Nifty witnessed sharp upside breakout of the range on Friday and closed the day higher by 164 points at 16,529 levels. The BSE Sensex closed above 55,000 mark for the first time ever. On a normal volume day; capital goods, telecom and IT sectors rose the most, while realty and healthcare fell. The broader indices under-performed the larger peers with both the S&P BSE mid-cap and S&P BSE small-cap almost unchanged. Nifty gained for the second consecutive week, gaining 1.79 per cent over the week.
Trade view on Nifty
Speaking on day trading guide for Monday; Nagaraj Shetti, Technical Research Analyst at HDFC Securities said, "The near term trend of Nifty continues to be positive and the present upside breakout of narrow range could signal more upside for the short term. Having reached our initial upside target of 16,500 levels on Friday, the Nifty is now expected to head towards the next upside target of around 16,800 to 17,000 levels in few weeks. Immediate support is placed at 16,380 levels."
Day trading stocks to buy today
Highlighting the day trading strategies, stock market experts — Sumeet Bagadia, Executive Director at Choice Broking; Mudit Goel, Senior Research Analyst at SMC Global Securities and Rohit Singre, Senior Technical Analyst at LKP Securities — recommended 4 shares to buy today.
Sumeet Bagadia's day trading stocks
1] Dabur: Buy at CMP, target Rs610 to Rs620, stop loss Rs575
2] Bata: Momentum buy at CMP, target Rs1740 to Rs1750, stop loss Rs1675
Mudit Goel's stock to buy today
3] Tech Mahindra: Buy at CMP, target Rs1410, stop loss Rs1365
Rohit Singre's stock of the day
4] MindTree: Momentum buy at CMP, target Rs3100, stop loss Rs2800.
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