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Daily Trading Guide for Thursday: 6 Stocks to Buy or Sell Today — June 16

Daily trading guide for Thursday: After giving up morning gains, Indian shares ended in negative territory for the fourth consecutive session on Wednesday. The Nifty 50 index finished 39 points lower at 15,692 while the BSE Sensex lost 152 points to close at 52,541 levels. The Nifty Bank index added 27 points and closed at levels of 33,339. Volumes on the NSE were at a multi-month low as traders shied away from making further commitments ahead of the crucial US Federal Reserve meeting.

According to stock market experts, a small negative candle has formed on the daily chart with a small upper shadow. Technically, this pattern indicates a mediocre type of movement in the market. However, Nifty was placed at the crucial support of the 15,600 to 15,700 levels (the previous lows), the market is struggling to show a significant upside bounce from the support. The current chart pattern indicates the possibility of a further leg down before showing a strong rebound to the upside.

Day trading guide for today’s stock market.

Speaking on the day trading strategy for the session on Thursday, Nagaraj Shetti, Technical Research Analyst at HDFC Securities, said: “Nifty’s short-term trend remains weak with range bound action. Such a lack of strength in Important support indicates chances of a false breakout to the downside.” or a stretch lower before showing a strong bullish bounce from the lows around 15,500 levels in the short term. Immediate resistance for NSE Nifty is located at 15,780 levels.”

stock trading day

Sharing intraday stocks for today, equity market analysts: Sumeet Bagadia, CEO of Choice Broking; Rajesh Bhosale, Technical Analyst at Angel One; Mehul Kothari, Executive Vice President of Technical Research at Anand Rathi and Anuj Gupta, Vice President of Research at IIFL Securities, recommended 6 stocks to buy or sell today.

Sumeet Bagadia Intraday Actions for Today

1]Larsen & Toubro: Buy at CMP, target $1600, stop loss $1520

2]Cholamandalam Investment and Finance: Buy on CMP, target $650 to $660, stop loss $615

Rajesh Bhosale Intraday Actions

3]LIC Home Financing: Shop Around $321 target $333, stop loss $314.40

4]Laurus Labs: Sell Around $513 target $487, stop loss $526

Anuj Gupta’s Actions of the Day

5]State Bank of India or SBI: Impulse buy on CMP, target $490, stop loss $425

Mehul Kothari Stock Pick for Thursday

6]Hindustan Aeronautics Ltd or HAL: buy $1858, target $1925, stop loss $1860.

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

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