07 Oct , 2021 By : Kanchan Joshi
Indian stock market snapped its two day winning streak on Wednesday driven lower by weak global cues. NSE Nifty dipped 176 points and closed at 17,646 levels whereas BSE Sensex shed 555 points and closed at 59,189 levels. Bank Nifty index ended 219 points lower at 37,521 levels. On a day when the volumes on the NSE were higher than recent average, all the sectoral indices ended in the red with metals, realty, healthcare and consumer durables leading the pack on the downside. S&P BSE Mid-cap index shed 1.2 per cent and S&P BSE Small-cap index fell 0.5 per cent.
Day trading guide on Nifty
Unveiling intraday trading strategy in regard to NSE Nifty; Deepak Jasani, Head of Retail Research at HDFC Securities said, "Nifty has formed a lower top on a short term basis. It has also formed an engulfing top on daily charts, which has bearish connotations. The weak advance decline ratio also suggests wide spread profit taking. Even if the global markets show some recovery, Nifty could after a small recovery again run into profit taking. Investors may take a part of their profits and raise cash, while traders can keep strict stop losses and reduce their positions till the sentiment improves."
Day trading stocks for today
Sharing intraday stocks for today, stock market experts — Sumeet Bagadia, Executive Director at Choice Broking; Ravi Singhal, Vice Chairman at GCL Securities; Rohit Singre, Technical Research Analyst at LKP 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] Tata Consumer Products: Momentum buy at CMP, target Rs840 to Rs850, stop loss Rs799
2] Britannia Industries: Buy at CMP, target Rs4050 to Rs4100, stop loss Rs3825
Sandeep Matta's day trading stocks to buy today
3] HDFC Asset Management Company: Buy at Rs2900, target Rs3000 to rs3100, stop loss Rs2800
4] Ashok Leyland: Buy at Rs130, target Rs137, stop loss Rs123
Ravi Singhal's stock of the day
5] Reliance Industries: Sell at Rs2570, target Rs2500, stop loss Rs2588
Ravi Singh's shares to buy today
6] Bharti Airtel: Sell at Rs695, target Rs680, stop loss Rs700
7] Bharat Petroleum Corp Ltd or BPCL: Buy at Rs445, target Rs455, stop loss Rs442
Rohit Singre's stocks to buy today
8] Navin Fluorine International Limited: Buy at CMP, target Rs4100 to Rs4150, stop loss below Rs3980
9] Piramal Enterprises Ltd or PEL: Buy at CMP, target Rs2900 to Rs2940, stop loss below Rs2805.