17 Aug , 2021 By : Kanchan Joshi
After showing a sharp upside breakout on Friday, Nifty continued with upside momentum with range bound action on Monday by closing 33 points higher at 16,563 levels. In the process NSE Nifty made another all time high of 16,589.40. BSE Sensex shot up 145 points and closed at 55,582 mark while Bank Nifty shed 74 points but managed to close above 36,000 levels. In the global markets, Wall Street trade choppy on Monday as Dow Jones closed 0.31 per cent higher at 35,625 while Nasdaq dipped 0.20 per cent and closed at 14,793 mark.
Trade view on Nifty
On day trading guide for Tuesday; Nagaraj Shetti, Technical Research Analyst at HDFC Securities said, "The short term trend has shifted again into choppy, post upside breakout of the small narrow range movement. There is a possibility of Nifty showing consolidation or minor weakness in the next 1-2 sessions, before showing further upside in the near term. The next upside target remains intact at 16,800 levels and immediate support is placed at 16,480 levels."
Day trading stocks to buy today
Unveiling their respective day trading strategies, stock market experts — Ravi Singhal, Vice Chairman at GCL Securities; Mudit Goel, Senior Research Analyst at SMC Global Securities and Rohit Singre, Senior Technical Analyst at LKP Securities — recommended 5 shares to buy today.
Ravi Singhal's stocks to buy today
1] Mahindra & Mahindra or M&M: Buy at Rs799, target Rs808 to Rs828, stop loss Rs777
2] Tata Steel: Buy at Rs1519, target Rs1544 to Rs1566, stop loss Rs1488
Mudit Goel's stock of the day
3] Nestle India Limited: Buy at CMP, target Rs19000, stop loss Rs18050
Rohit Singre's shares to buy today
4] Adani Ports and Special Economic Zone: Momentum buy at CMP, target Rs730, stop loss Rs690
5] Apollo Hospitals: Momentum buy at CMP, target Rs4450, stop loss Rs4270.
0 Comment