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Day Trading Guide For Monday: 8 Stocks To Purchase Or Offer Today– 9th May


May 8, 2022
India Economy 0 1651716357274 1652058955475

Day trading guide for Monday: Following weak international hints and Wall Street thrashing, Indian stock exchange saw sharp sell-off on Friday. Awesome 50 index toppled 271 points and closed at 16,411 mark whereas BSE Sensex crashed 866 points and closed at 54,835 levels. Nifty Bank index nosedived 641 points and closed at 34,591 levels.

According to stock exchange professionals, a little body candle light was formed on the everyday chart with nearly similar open and close. Technically this pattern suggest a development of doji type candle light pattern after a space down opening. Awesome appears to have actually taken assistance of 16,350 levels, prior to revealing intraday combination. Generally, a development of doji after an affordable weak point signals concerning pattern turnaround on the advantage. The verification by the method of a sustainable close above 16,500 levels might open upside bounce in the market.

Day trading guide for stock exchange today

Speaking on intraday trading technique for Nifty today, Nagaraj Shetti, Technical Research Study Expert at HDFC Securities stated, “The short-term pattern of Awesome continues to be unfavorable. Having actually formed a doji and unfilled opening disadvantage space signal a possibility of small advantage bounce from here or from the lows in the next 1-2 sessions. Any upside from present levels might experience strong resistance around 16,650 levels on Nifty 50 index. Ultimately Nifty might decrease from the highs and reach down to the next assistance of 16,200 levels in the near term.”

Day trading stocks

Sharing intraday stocks for today, stock exchange professionals– Sumeet Bagadia, Executive Director at Option Broking; Avinash Gorakshkar, Head of Securities at Profitmart Securities; Rajesh Bhosale, Technical Expert at Angel One Ltd and Mehul Kothari, AVP– Technical Research Study at Anand Rathi– advised 8 shares to purchase or offer today.

Sumeet Bagadia’s intraday stocks for today

1] Tata Power: Purchase CMP, target 255 to 260, stop loss 238

2] State Bank of India or SBIN: Purchase CMP, target 495 to 500, stop loss 470

Avinash Gorakshkar’s day trading stocks to purchase today

3] Tata Chemicals: Purchase CMP, target 1090, stop loss 1005

4] Colgate-Palmolive or COLPAL: Purchase CMP, target 1680, stop loss 1540

Rajesh Bhosale’s intraday choices for today

5] Hero Motocorp: Purchase around 2563, target 2720, stop loss 2480

6] Tata Motors: Offer around 408, target 385, stop loss 420

Mehul Kothari’s stocks to purchase today

7] RCF: Purchase around 88, target 95, stop loss 84

8] ITC: Purchase around 264, target 280, stop loss 255.

Disclaimer: The views and suggestions made above are those of private experts or broking business, and not of Mint.

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