Daily Trading Guide for Friday: 8 Stocks to Buy or Sell Today — June 24

Daily trading guide for Friday: Despite fears of rising interest rates and recession around the world, the Indian stock market rebounded from Thursday afternoon’s sell-off. Volumes on the NSE were in line with the recent average. The forward decline ratio jumped to much more than 1:1. The Nifty 50 Index finished 143 points higher at 15,556, while the BSE Sensex rose 443 points to close at 52,265 levels. The Nifty Bank Index soared 289 points to close at 33,135 levels.

According to stock market experts, the current Dalal Street pattern indicates a bullish move in the market with high volatility. They said that after Wednesday’s weakness, the market showing a bullish bounce could be a positive indication and the daily low of 15,367 is expected to be a small top formation according to the daily chart. This should be confirmed with a follow-up move higher in the later session.

Day trading guide for today’s stock market.

Speaking about the daily trading guidance for Nifty today, Nagaraj Shetti, Technical Research Analyst at HDFC Securities, said: “The Nifty 50 Index sits within a broader high-low range of 15,700 to 15,350 levels. Having bounced from the higher low on Thursday, there is a chance for a further move higher towards the crucial overhead resistance of 15,700 to 15,800 levels in the next 1-2 sessions, before showing another round of minor weakness from the highs.”

Introducing the day trading strategy, Ruchit Jain, Research Leader at 5paisa.com, said: “As the breadth of the market is positive and certain sectors and stocks are also showing signs of retracing their oversold territory, it is possible that Let’s see Nifty breaking the highest barrier soon.” Therefore, until 15,180 is intact, short-term traders should look for stock-specific buying opportunities and trade with a positive bias.”

stock trading day

Sharing intraday stocks for today, stock experts: Sumeet Bagadia, CEO of Choice Broking; Mehul Kothari, AVP — Technical Research at Anand Rathi; Anuj Gupta, VP of Research at IIFL Securities and Avinmash Gorakshkar, Head of Research at Profitmart Securities, recommended 8 stocks to buy today.

Sumeet Bagadia Actions for Friday

1]Indian hotels: Buy from CMP, target $235, stop loss $215

2]Pidilite: Buy at CMP, target $2250, stop loss $2075

Mehul Kothari Intraday Actions for Today

3]ICT: Shop Around $265 target $272, stop loss $260

4]Kotak Mahindra Bank: buy $1680, objective $1740, stop loss $1640

Anuj Gupta day trading shares to buy

5]Axis Bank: Buy at CMP, target $700, stop loss $590

6]State Bank of India or SBI: CMP impulse buy, target $490, stop loss $418

Avinash Gorakshkar stock picks for Friday

7]Tata Motors: Buy at CMP, target $437, stop loss $393

8]ICICI Bank: Buy at CMP, target $730, stop loss $684.

Disclaimer: The opinions and recommendations made above are those of individual analysts or brokerage firms, and not of the Mint.

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