03 Sep , 2021 By : Kanchan Joshi
Nifty reversed the losses of Wednesday and closed at another record high of 17,234 on Thursday. The 50-stock index witnessed a sharp upside move yesterday and scaled new peak of 17,245. The BSE Sensex also closed at record high of 57,852 — 514 points up from its Wednesday close. The 30-stock index also scaled new peak of 57,892 during the intraday rally. On a day when volumes on the NSE were more or less in line with recent averages, auto index was the sole loser, while realty, consumer durable, IT and FMCG were the main gainers. The broader indices also rose largely in line with the Nifty. According to market experts, this trade pattern displays strength of upside momentum. This is positive indication and one may expect more upside in the short term.
Trade view on Nifty
Asked about intraday trading tips for Friday; Nagaraj Shetti, Technical Research Analyst at HDFC Securities said, "The short-term trend of Nifty is in a strong mode and the broad market indices are also in driver's seat. One may expect further upside in the next 1-2 sessions, before showing another round of consolidation or minor profit booking from the new highs. The next upside levels to be watched for NSE Nifty around 17,500 and immediate support for 50-stock index is placed at 17,150."
Intraday stocks for today
Speaking on day trading stocks to buy today, stock market experts — Sumeet Bagadia, Executive Director at Choice Broking; Ravi Singhal, Vice Chairman at GCL Securities; Sandeep Matta, Founder at TRADEIT Investment Advisors; Kapil Goenka, Founder, Eternity Financial Services and Mudit Goel, Senior Research Analyst at SMC Global Securities — recommended 7 stocks to buy today.
Sumeet Bagadia's day trading stocks to buy today
1] Kotak Mahindra Bank: Buy at CMP, target Rs1825 to Rs1850, stop loss Rs1735
2] Prestige Estates Projects: Buy at CMP, target Rs410 to Rs425, stop loss Rs360
Ravi Singhal's stock to buy today
3] HDFC Life Insurance Company: Buy at Rs760, target Rs820, stop loss Rs744
Kapil Goenka's intraday stock to buy today
4] Dollar Industries: Buy at Rs359, target Rs373, stop loss Rs348
Sandeeep Matta's shares to buy today
5] Parag Milk Foods: Buy at Rs135, target Rs155 to Rs160, stop loss Rs110
6] Zodiac Clothing Company: Buy at Rs114, target Rs140, stop loss Rs98
Mudit Goel's stock of the day
7] IGL: Momentum buy at CMP, target Rs572, stop loss Rs550.
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