23 Aug , 2021 By : Kanchan Joshi
The NSE Nifty last week snapped a two week winning streak and ended lower by 0.48 per cent at 16,450 levels. In the process it was able to suggest indecision at higher levels. Over the week, FMCG and IT were the main gainers while metals, media, PSU bank and realty lost the most. According to stock market experts, global worries like Fed withdrawing stimulus, Delta variant spread, slowing global growth and China’s regulatory tightening are impacting Indian markets.
Trade view on Nifty
On his day trading guide for Monday; Nagaraj Shetti, Technical Research Analyst at HDFC Securities said, "The short term upside trend of Nifty seems to have reversed and one may expect some more weakness in the coming sessions. The next lower area of 16,250 to 16,300 levels could offer support for the market in the early next week and the market could bounce back from the lows by next week. On the higher side, intraday resistance is placed at 16,500 to 16,550 levels."
Day trading stock to buy or sell today
Speaking on the day trading strategies, stock market experts — Sumeet Bagadia, Executive Director at Choice Broking; Sandeep Matta, Founder at TRADEIT Investment Advisors and Mudit Goel, Senior Research Analyst at SMC Global Securities — recommended 6 shares to buy or sell today.
Sumeet Bagadia's day trading stocks
1] Dabur: Buy at Rs605, target Rs620 to Rs630, stop loss Rs590
2] Biocon: Sell at Rs360, target Rs350 to Rs342, stop loss Rs370
Sandeep Matta's shares to buy today
3] Tata Motors: Buy at Rs281, target Rs292 Rs304, stop loss Rs262
4] Shyam Metalics: Buy at Rs392, target Rs410 to Rs428, stop loss Rs355
5] Prakash Industries: Buy at Rs67, target Rs74 to Rs78, stop loss Rs62
Mudit Goel's stock of the day
6] Tata Consumer Products: Momentum buy at CMP, target Rs870, stop loss Rs839.
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