07 Jul , 2022 By : Kanchan Joshi
After showing higher level weakness on Tuesday, Indian stocks witnessed a sustainable upside bounce on Wednesday session and closed the day in positive territory. Nifty 50 index went 178 points higher at 15,989 whereas BSE Sensex shot up 616 points and closed at 53,750 levels. Nifty Bank index shot up 508 points and closed at 34,324 levels.
According to stock market experts, a long bull candle was formed on the daily chart, that has almost engulfed the negative candle of the previous session. Technically, this indicates a negation of bearish formation and signals positive bias for the market ahead.
Day trading guide for stock market today
Speaking on Nifty 50 outlook, Nagaraj Shetti, Technical Research Analyst at HDFC Securities said, "The short-term trend of Nifty has turned positive and the overall chart pattern hint at a possibility of a sharp upside breakout of the hurdle. The next upside levels on Nifty 50 to be watched are around 16,200 to 16,300 in the short term. Immediate support for NSE Nifty is placed at 15,900 levels."
Day trading stocks
Sharing intraday stocks for today — share market experts — Mehul Kothari, AVP- Technical Research at Anand Rathi; Rajesh Bhosale, Technical Analyst at Angel One; Rohit Singre, AVP — Technical Research at Bonanza Portfolio and Anuj Gupta, Vice President — Research at IIFL Securities — recommended 6 stocks to buy today.
Mehul Kothari's intraday stocks for today
1] Indusind Bank: Buy around Rs837, target Rs865, stop loss Rs820
2] Berger Paints: Buy around 592, target Rs612, stop loss Rs579
Rajesh Bhosale's day trading stocks to buy today
3] Oberoi Realty: Buy around Rs784, target Rs821, stop loss Rs764
4] Max Financial Services Ltd or MFSL: Buy around Rs824.40, target Rs869, stop loss Rs801
Rohit Singre's stock of the day
5] Praj Industries: Momentum buy at CMP, target Rs390, stop loss Rs363
Anuj Gupta's intraday stock
6] HDFC Bank: Buy at CMP, target Rs1430, stop loss Rs1340.