22 Sep , 2021 By : Kanchan Joshi
NSE Nifty ended 165 points higher at 17,562 levels on Tuesday aided by a late surge as global markets seemed to be recovering from contagion fears based on troubles at Evergrande. In the process it recorded the highest single-day gain since 31st August 2021. BSE Sensex shot up 165 points and regained 59,000 levels. According to market experts, a sharp buying has emerged from a day's low of 17,326 levels and this upside momentum continued for rest of the session. Technically, this pattern indicates an upside bounce in the market after a quick decline in last two trade sessions.
Trade view on NSE Nifty
Speaking on intraday trading strategy; Nagaraj Shetti, Technical Research Analyst at HDFC Securities said, "The market seems to have reversed up surprisingly after a short period of downward correction. This pattern indicates strength of present upside momentum and emergence of buying after a small dips. The present upside bounce from initial moving average support could signal possibility of more upside towards 17,800 levels in the next few sessions. Immediate support for NSE Nifty is placed at 17,425 levels."
Intraday stocks for today
Unveiling day trading stocks to buy, stock market analysts — Sumeet Bagadia, Executive Director at Choice Broking; Sandeep Matta, Founder at TRADEIT Investment Advisors; Dr Ravi Singh, Founder & Director, DRS Advisory and Mudit Goel, Senior Research Analyst at SMC Global Securities — recommended 8 intraday shares for today.
Sumeet Bagadia's day trading stocks to buy
1] Petronet LNG: Momentum buy at CMP, target Rs238 to Rs240, stop loss Rs226
2] Bajaj Finance: Buy at CMP, target Rs8200 to Rs8250, stop loss Rs7500
Sandeep Matta's shares to buy today
3] Indian Energy Exchange or IEX: Buy at Rs583, target Rs600 to Rs618, stop loss Rs560
4] Tata Steel: Buy at Rs1292, target Rs1335 to Rs1375, stop loss Rs1235
Mudit Goel's stock of the day
5] Colgate-Palmolive (India) Limited or COLPAL: Momentum buy at CMP, target Rs1760, stop loss Rs1715
Ravi Singh's stocks to buy today
6] Bank of Baroda: Buy at Rs78, target Rs85, stop loss Rs755
7] Glenmark Pharmaceuticals: Buy at Rs506, target Rs520, stop loss Rs500
8] Tata Steel: Buy at Rs1280, target Rs1350, stop loss Rs1260.