After showing sharp weakness and intraday upside recovery on Tuesday, Nifty shifted into a consolidation with weak bias on Wednesday and closed the day lower by 37 points at 17,711 levels. BSE Sensex shed 254 points and closed at 59,413 levels. A promising upside recovery has emerged in the mid to later part, but the market was not able to close at the highs. According to stock market experts, this trend indicates a formation of high wave type pattern. Normally, such formations after a reasonable decline could hint at a possibility of halt in present trend and this need to be confirmed with reasonable upside move in the subsequent sessions.

On a day when the volumes on the NSE were higher than the recent average; power, metals and realty indices gained the most whereas banks, auto, capital goods and FMCG indices fell the most.

Trade view on NSE Nifty

Unveiling intraday trading tips for today; Nagaraj Shetti, Technical Research Analyst at HDFC Securities said, "The short term trend of Nifty remains negative. But, lack of sharp follow-through selling and an emergence of buying from the lower supports suggest chances of upside bounce in the market in the next 1-2 sessions. A sustainable move above the immediate resistance of 17,800 could open strong upside bounce towards 18,000 mark. Immediate support for NSE Nifty is placed at 17,580 to 17,600 levels."

Day trading stocks to buy today

Unveiling 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; Sandeep Matta, Founder at TRADEIT Investment Advisors; Dr Ravi Singh, Head of Research & Vice President, ShareIndia and Manoj Dalmia, Director & Founder, Proficient Equities Private Limited — recommended 9 intraday stocks for today.

Sumeet Bagadia's day trading stocks

1] HDFC Life: Buy at CMP, target Rs755 to Rs765, stop loss Rs715

2] Bank of Baroda: Buy at CMP, target Rs85 to Rs88, stop loss Rs77.50

Mudit Goel's stock of the day

3] L&T Finance Holdings: Buy at CMP, target Rs95, stop loss Rs87

Rohit Singre's intraday stocks for today

4] Deepak Nitrite: Momentum buy at rs2360, target Rs2420 to Rs2480, stop loss Rs2330

5] Tata Chemicals: BTST buy at Rs926, target Rs946 to Rs960, stop loss Rs910

Ravi Singhal's stock to buy today

6] AU Small Finance Bank: Buy at Rs1158, target rs1222, stop loss Rs1127

Ravi Singh's shares to buy

7] Aarti Industries: Buy at Rs930, target Rs980, stop loss Rs900

8] Tata Power: Buy at Rs150, target Rs160, stop loss Rs147

Manoj Dalmia's day trading stock for Thursday

9] KRBL: Buy at Rs302, target Rs320, stop loss Rs295.