The choppy movement continued in the market for the third consecutive session on Monday and the NSE Nifty closed 20 points higher at 16,258 while BSE Sensex scaled 125 points north and closed at 54,402 levels. Bank Nifty regained 36,000 levels and closed 219 points up at 36,028 mark. BSE mid-cap index shed over 1 per cent while the BSE small-cap declined nearly 0.75 per cent. Volumes on the NSE were the lowest since July 14, which indicates disinterest on the part of traders in a market. In the global markets, Wall Street to remained sideways on Monday as Dow Jones shed 0.30 per cent while Nasdaq added 0.16 per cent.

Trade view on Nifty

Stock market experts are of the opinion that after a sharp upside breakout of the broader high low range at 16,000 levels recently, the underlying shifting into a narrow range movement without showing any major decline could be considered as a breather pattern and this action indicate a buy on dips opportunity near the upside breakout point around 16,100 to 16,200 levels, as per the concept change in polarity.

Speaking on day trading guide for Tuesday; Nagaraj Shetti, Technical Research Analyst at HDFC Securities said, "The short term trend of Nifty remains choppy. The recent upside breakout of broader range is still intact. The present consolidation/minor weakness is unlikely to damage the sentiment post upside breakout. We expect Nifty to show sharp upside bounce again from near the support of 16,100 levels in the next couple of sessions. A decisive move above 16,350 could pull Nifty towards 16,500 in the near term."

Day trading stocks to buy today

On the basis of the above mentioned day trading strategies, stock market experts — Sumeet Bagadia, Executive Director at Choice Broking; Mudit Goel, Senior Research Analyst at SMC Global Securities; Sandeep Matta, Founder at TRADEIT Investment Advisors; Rohit Singre, Senior Technical Analyst at LKP Securities and Kapil Goenka, Director at C M Goenka Stock Brokers — recommended these 8 shares to buy today.

Sumeet Bagadia's day trading stocks

1] Mahindra & Mahindra (M&M): Buy at CMP, target Rs800 to Rs820, stop loss Rs760

2] Dr Reddy's Laboratories: Momentum buy at CMP, target Rs4925 to Rs5000, stop loss Rs4740

Mudit Goel's stock of the day

3] Axis Bank: Buy at CMP, target Rs775, stop loss Rs745

Sandeep Matta's stocks to buy today

4] TVS Motors: Buy around Rs565, target Rs583 to Rs600, stop loss Rs548

5] Muthoot Capital: Buy at Rs415, targt Rs435 Rs455, stop loss Rs390

Rohit Singre's shares to buy today

6] RPG Life Sciences: Buy at Rs514, target Rs535 to Rs555, stop loss below Rs493

7] Deepak Nitrite: Buy at Rs2165, target Rs2200 to Rs2230, stop loss below Rs2125

Kapil Goenka's stock to buy today

8] Laxmi Organic: Buy at Rs272, target Rs310, stop loss Rs252.