14 Dec , 2021 By : Kanchan Joshi
After showing range bound movement in the last couple of session, Indian stock market witnessed failed upside breakout on Monday, as it slipped into weakness from the highs. Nifty 50 shed 143 points and closed at 17,368 levels whereas BSE Sensex dipped 53 points and closed at 58,283 levels. According to stock market experts, there is a possibility of some more dip before the upside bounce from the lows again.
On a day when the volumes on the NSE were higher than recent average; realty, oil & gas, telecom and FMCG indices lost the most while Consumer Durables index barely managed to end in the green. BSE Small-cap index ended 0.24 per cent higher while Mid-cap index ended 0.53 per cent lower.
Day trading guide for Nifty today
Speaking on day trading strategy for Tuesday; Nagaraj Shetti, Technical Research Analyst at HDFC Securities said, "The positive chart pattern like higher tops and bottoms is intact on the daily chart and any weakness from here could be a buy on dips opportunity. The long term trend as per weekly chart remains negative. Immediate support for NSE Nifty is placed at 17,200 levels and any upside bounce from current levels could find resistance at 17,600 levels."
Day trading stocks to buy today
Sharing day trading stocks for today's trade session, stock market experts — Sumeet Bagadia, Executive Director at Choice Broking and Manoj Dalmia, Founder & Director at Proficient Equities Limited — recommended 4 stocks to buy today.
Sumeet Bagadia's day trading stocks
1] Tech Mahindra: Buy at CMP, target Rs1700, stop loss Rs1600
2] KPR Mill: Buy at CMP, target Rs575, stop loss Rs530
Manoj Dalmia's day trading stocks today
3] TTK Prestige: Buy at Rs11750, target Rs12560, stop loss Rs11457
4] Max Healthcare: Buy around Rs400, target Rs429, stop loss Rs392.
0 Comment