Daily Trading Guide for Wednesday: 5 Stocks to Buy or Sell Today — June 15

Daily trading guide for Wednesday: After swinging between gains and losses throughout the day, the Indian stock market finally ended in negative territory for the third day in a row on Tuesday. The Nifty 50 index finished 42 points lower at 15,732 while the BSE Sensex lost 153 points to close at 52,693 levels. Nifty Bank came out of 94 points and closed at 33,311 levels.

Global markets fell sharply on Tuesday after Wall Street hit a confirmed bear market milestone on fears aggressive US interest rate hikes would push the world’s largest economy into recession.

According to stock market insiders, global markets could remain skittish until the US Fed meeting ends today. They said that Nifty made a new low of 15,659 levels on Tuesday, which is close to the crucial support at 15,700 to 15,650 levels (multiple swing lows). However, there is no evidence of a strong bullish rally emerging near these important supports.

Day trading guide for today’s stock market.

Speaking in the daily trading guide for Nifty today, Nagaraj Shetti, Technical Research Analyst at HDFC Securities, said: “The market is located in the crucial support zone around 15,700 to 15,600 levels. But, the inability of the bulls to show a significant upside recovery from major support indicates chances of a further leg down to the 15,600-15,500 levels before showing a significant upside bounce from the lows Immediate resistance for NSE Nifty lies at the of 15,850”.

Ruchit Jain, head of research at 5paisa.com, advising the ‘sell on the rise’ approach, said: “The specific action of the stock does not indicate any bottom formation near the previous support zone. Therefore, in the In the short term, the index could likely break this support zone and witness further selling pressure. Therefore, traders should avoid aggressive positions and continue with the ‘Sell on High’ approach.”

stock trading day

Sharing today’s intraday stocks, stock market experts Mehul Kothari, EVP of Technical Research at Anand Rathi, Avinash Gorakshkar, Head of Research at Profitmart Securities, and Rohit Singre, EVP of Technical Research at Bonanza Portfolio, recommended 5 stocks to buy today.

Mehul Kothari Intraday Actions for Today

1]Berger paints: buy $571 target $590, stop loss $555

2]Coromandel: Shop Around $948 target $985, stop loss $925

Avinash Gorakshkar’s day trading stocks to buy today

3]GAIL: Buy at CMP, target $158, stop loss $142

4]DLF: Buy at CMP, target $334, stop loss $305

Rohit Singre’s Actions of the Day

5]Greenply: CMP impulse buy, target $190, stop loss $176.

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

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