14 Oct , 2021 By : Kanchan Joshi
After showing range bound movement with positive bias in the last four sessions, Nifty witnessed a sharp upside breakout on Wednesday and closed the day higher by 169 points at 18,161 levels. BSE Sensex closed 452 points higher at 60,737 levels whereas Bank Nifty ascended 114 points and closed at 38,635 levels. According to stock market experts, current market pattern indicates an upside breakout of crucial overhead resistance at 18,000 mark. This is positive indication and one may expect follow-through buying in the coming sessions.
On a day when the volumes on the NSE were above recent average; power, metals, consumer durables, capital goods, automobiles and IT were the main gainers while realty index ended marginally in the negative. Mid-cap index rose 1.6 per cent whereas small-cap index rose 0.63 per cent.
Stock market strategy for today
Unveiling intraday trading strategy for today; Subash Gangadharan, Senior Technical and Derivative Analyst, HDFC Securities said, "The short term trend of Nifty continues to be positive. Having closed above the hurdle of 18,000 mark, there is a possibility of further upside in the coming sessions. Next upside levels to be watched for NSE Nifty is around 18,400 to 18,500 in the next one week. Immediate support for NSE Nifty is placed at 18,050 levels."
Day trading stocks to buy today
Sharing intraday stocks for today, stock market experts — Sumeet Bagadia, Executive Director at Choice Broking; Mudit Goel, Senior Research Analyst at SMC Global Securities; Rohit Singre, Senior Technical Analyst at LKP Securities; Ravi Singhal, Vice Chairman at GCL Securities; Dr Ravi Singh, Head of Research & Vice President at Share India and Sandeep Matta, Founder at TRADEIT Investment Advisors — recommended 9 intraday shares for today.
Sumeet Bagadia's intraday stocks for today
1] Adani Ports: Buy at CMP, target Rs790 to Rs800, stop loss Rs740
2] HDFC Bank: Momentum buy at CMP, target Rs1680 to RRs 1700, stop loss Rs1600
Rohit Singre's stock of the day
3] Wipro: BTST buy at CMP, target rs683 to rs690, stop loss below rs660
Mudit Goel's stock pick of the day
4] Marico: Momentum buy at CMP, target rs602, stop loss rs575
Ravi Singhal's stock pick for today
5] Godrej Properties: Buy at rs2450, target rs2520, stop loss rs2419
Sandeep Matta's shares to buy today
6] Apollo Hospitals: Buy at rs4370, target rs4700, stop loss rs4100
7] HDFC AMC: Buy at rs2900, target rs3075, stop loss rs2820
Ravi Singh's stocks to buy today
8] LIC Housing Finance: Buy at rs445, target rs455, stop loss rs442
9] RBL BANK: Buy at rs193, target rs205, stop loss rs191.
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